Impax Asset Management Group plc Has $43.63 Million Stake in nVent Electric plc (NYSE:NVT)

Impax Asset Management Group plc increased its holdings in shares of nVent Electric plc (NYSE:NVT) by 2,764.1% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 647,304 shares of the company’s stock after purchasing an additional 624,703 shares during the quarter. Impax Asset Management Group plc’s holdings in nVent Electric were worth $43,626,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Larson Financial Group LLC raised its position in shares of nVent Electric by 91.9% during the 3rd quarter. Larson Financial Group LLC now owns 378 shares of the company’s stock valued at $27,000 after acquiring an additional 181 shares during the last quarter. Crews Bank & Trust acquired a new stake in shares of nVent Electric during the fourth quarter worth $26,000. Huntington National Bank increased its holdings in nVent Electric by 57.3% in the third quarter. Huntington National Bank now owns 612 shares of the company’s stock valued at $43,000 after purchasing an additional 223 shares during the last quarter. Brooklyn Investment Group acquired a new position in nVent Electric in the third quarter valued at about $44,000. Finally, Tsfg LLC bought a new position in nVent Electric during the fourth quarter worth about $51,000. 90.05% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Citigroup cut their price target on shares of nVent Electric from $91.00 to $90.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Royal Bank of Canada increased their target price on shares of nVent Electric from $85.00 to $86.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Finally, Barclays boosted their price target on shares of nVent Electric from $76.00 to $88.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, nVent Electric has a consensus rating of “Buy” and a consensus target price of $86.33.

nVent Electric Stock Performance

Shares of NVT opened at $62.64 on Monday. The firm has a market cap of $10.34 billion, a P/E ratio of 31.96, a PEG ratio of 1.48 and a beta of 1.26. nVent Electric plc has a twelve month low of $56.44 and a twelve month high of $86.57. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.28 and a current ratio of 1.73. The firm’s 50 day moving average price is $68.84 and its two-hundred day moving average price is $70.25.

nVent Electric (NYSE:NVT) last posted its quarterly earnings data on Thursday, February 6th. The company reported $0.59 EPS for the quarter, meeting the consensus estimate of $0.59. nVent Electric had a net margin of 10.09% and a return on equity of 14.52%. On average, analysts forecast that nVent Electric plc will post 3.04 EPS for the current fiscal year.

nVent Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 25th will be issued a dividend of $0.20 per share. The ex-dividend date is Friday, April 25th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.28%. nVent Electric’s payout ratio is presently 40.82%.

About nVent Electric

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.