River & Mercantile Asset Management LLP Purchases Shares of 58,466 nVent Electric plc (NYSE:NVT)

River & Mercantile Asset Management LLP purchased a new stake in nVent Electric plc (NYSE:NVT – Get Rating) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 58,466 shares of the company’s stock, valued at approximately $1,890,000.

Other hedge funds have also recently bought and sold shares of the company. SeaCrest Wealth Management LLC bought a new stake in nVent Electric in the 2nd quarter valued at $39,000. Wipfli Financial Advisors LLC bought a new position in shares of nVent Electric during the 3rd quarter worth about $50,000. FinTrust Capital Advisors LLC lifted its holdings in shares of nVent Electric by 9.6% during the 3rd quarter. FinTrust Capital Advisors LLC now owns 4,689 shares of the company’s stock worth $158,000 after acquiring an additional 411 shares during the period. Alan B. Lancz & Associates Inc. bought a new position in shares of nVent Electric during the 2nd quarter worth about $167,000. Finally, Captrust Financial Advisors lifted its holdings in shares of nVent Electric by 16.2% during the 2nd quarter. Captrust Financial Advisors now owns 5,375 shares of the company’s stock worth $168,000 after acquiring an additional 751 shares during the period. 87.12% of the stock is owned by institutional investors.

nVent Electric Trading Down 7.1 %

Shares of NVT stock opened at $41.09 on Thursday. nVent Electric plc has a 12-month low of $29.19 and a 12-month high of $46.66. The company has a market capitalization of $6.79 billion, a P/E ratio of 17.34 and a beta of 1.33. The firm has a 50-day moving average price of $42.43 and a 200 day moving average price of $38.21. The company has a quick ratio of 1.36, a current ratio of 1.89 and a debt-to-equity ratio of 0.39.

nVent Electric (NYSE:NVT – Get Rating) last posted its quarterly earnings data on Tuesday, February 7th. The company reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.08. The firm had revenue of $742.00 million during the quarter, compared to analysts’ expectations of $712.01 million. nVent Electric had a net margin of 13.74% and a return on equity of 15.38%. The company’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.50 EPS. Research analysts forecast that nVent Electric plc will post 2.57 earnings per share for the current fiscal year.

nVent Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 12th. Shareholders of record on Friday, April 28th will be given a $0.175 dividend. This represents a $0.70 annualized dividend and a yield of 1.70%. The ex-dividend date is Thursday, April 27th. nVent Electric’s payout ratio is presently 29.54%.

Analysts Set New Price Targets

NVT has been the subject of a number of analyst reports. Barclays raised their price objective on shares of nVent Electric from $50.00 to $53.00 and gave the stock an “overweight” rating in a report on Wednesday, February 8th. Royal Bank of Canada lifted their price target on shares of nVent Electric from $47.00 to $51.00 and gave the company an “outperform” rating in a report on Wednesday, March 8th.

Insider Buying and Selling at nVent Electric

In other nVent Electric news, insider Joseph A. Ruzynski sold 3,500 shares of the firm’s stock in a transaction dated Monday, February 13th. The shares were sold at an average price of $45.07, for a total value of $157,745.00. Following the completion of the sale, the insider now owns 22,130 shares in the company, valued at approximately $997,399.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 2.10% of the company’s stock.

nVent Electric Company Profile

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nVent Electric Plc engages in the provision of electrical connection and protection solutions. It operates through the following segments: Enclosures, Thermal Management, and Electrical & Fastening Solutions. The Enclosures segment offers solutions that protect, connect, and manage heat in critical electronics, communication, control, and power equipment.