Mountain Pacific Investment Advisers LLC Grows Stake in nVent Electric plc (NYSE:NVT)

Mountain Pacific Investment Advisers LLC grew its holdings in shares of nVent Electric plc (NYSE:NVT) by 18.4% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 167,150 shares of the company’s stock after acquiring an additional 25,977 shares during the quarter. Mountain Pacific Investment Advisers LLC’s holdings in nVent Electric were worth $11,744,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA boosted its holdings in nVent Electric by 16.0% in the second quarter. Massachusetts Financial Services Co. MA now owns 4,884,487 shares of the company’s stock valued at $374,201,000 after acquiring an additional 673,990 shares in the last quarter. Boston Partners increased its position in shares of nVent Electric by 3.2% during the first quarter. Boston Partners now owns 3,325,834 shares of the company’s stock valued at $250,770,000 after buying an additional 102,643 shares during the period. Congress Asset Management Co. MA increased its position in shares of nVent Electric by 1.2% during the first quarter. Congress Asset Management Co. MA now owns 2,219,332 shares of the company’s stock valued at $167,338,000 after buying an additional 26,897 shares during the period. Principal Financial Group Inc. raised its stake in nVent Electric by 2.5% in the second quarter. Principal Financial Group Inc. now owns 1,734,378 shares of the company’s stock worth $132,869,000 after buying an additional 42,391 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in nVent Electric by 50.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,633,421 shares of the company’s stock valued at $96,519,000 after acquiring an additional 547,624 shares in the last quarter. Institutional investors own 90.05% of the company’s stock.

Insider Buying and Selling

In other nVent Electric news, Director Herbert K. Parker acquired 7,566 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were bought at an average cost of $65.71 per share, with a total value of $497,161.86. Following the completion of the transaction, the director now directly owns 34,524 shares of the company’s stock, valued at approximately $2,268,572.04. This represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Herbert K. Parker purchased 7,566 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were purchased at an average cost of $65.71 per share, for a total transaction of $497,161.86. Following the purchase, the director now directly owns 34,524 shares in the company, valued at approximately $2,268,572.04. This represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Michael B. Faulconer sold 20,004 shares of the company’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $63.34, for a total value of $1,267,053.36. Following the sale, the insider now owns 19,766 shares of the company’s stock, valued at approximately $1,251,978.44. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 2.50% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

NVT has been the subject of several research reports. Barclays decreased their target price on nVent Electric from $87.00 to $86.00 and set an “overweight” rating for the company in a research report on Wednesday, October 2nd. Royal Bank of Canada lowered their price objective on nVent Electric from $88.00 to $82.00 and set an “outperform” rating for the company in a research report on Wednesday, August 7th. Finally, KeyCorp raised shares of nVent Electric from a “sector weight” rating to an “overweight” rating and set a $80.00 target price on the stock in a research report on Wednesday, September 4th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $85.00.

nVent Electric Stock Performance

nVent Electric stock opened at $71.75 on Thursday. nVent Electric plc has a twelve month low of $45.60 and a twelve month high of $86.57. The company has a quick ratio of 1.49, a current ratio of 2.17 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $11.91 billion, a P/E ratio of 20.92, a PEG ratio of 1.35 and a beta of 1.27. The stock’s 50 day moving average is $66.35 and its 200 day moving average is $73.29.

nVent Electric (NYSE:NVT) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.82 earnings per share for the quarter, missing the consensus estimate of $0.83 by ($0.01). The company had revenue of $880.30 million for the quarter, compared to the consensus estimate of $892.89 million. nVent Electric had a net margin of 16.59% and a return on equity of 17.21%. nVent Electric’s revenue was up 9.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.77 earnings per share. On average, equities research analysts predict that nVent Electric plc will post 3.26 earnings per share for the current fiscal year.

nVent Electric Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 18th will be given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 1.06%. The ex-dividend date is Friday, October 18th. nVent Electric’s dividend payout ratio (DPR) is currently 22.16%.

nVent Electric Profile

nVent Electric plc, together with its subsidiaries, designs, manufactures, markets, installs, and services electrical connection and protection solutions in North America, Europe, the Middle East, Africa, the Asia Pacific, and internationally. The company operates through three segments: Enclosures, Electrical & Fastening Solutions, and Thermal Management.