Copeland Capital Management LLC Reduces Stock Holdings in nVent Electric PLC $NVT

Copeland Capital Management LLC decreased its stake in nVent Electric PLC (NYSE:NVT) by 20.4% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 282,078 shares of the company’s stock after selling 72,147 shares during the quarter. Copeland Capital Management LLC’s holdings in nVent Electric were worth $28,763,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of NVT. AQR Capital Management LLC boosted its holdings in shares of nVent Electric by 33.1% in the 1st quarter. AQR Capital Management LLC now owns 94,968 shares of the company’s stock worth $4,841,000 after purchasing an additional 23,606 shares during the period. Jones Financial Companies Lllp boosted its holdings in nVent Electric by 575.6% during the 1st quarter. Jones Financial Companies Lllp now owns 8,803 shares of the company’s stock valued at $461,000 after acquiring an additional 7,500 shares during the period. Geneos Wealth Management Inc. boosted its holdings in nVent Electric by 436.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,072 shares of the company’s stock valued at $56,000 after acquiring an additional 872 shares during the period. Marshall Wace LLP boosted its holdings in nVent Electric by 31.8% during the 2nd quarter. Marshall Wace LLP now owns 41,061 shares of the company’s stock valued at $3,008,000 after acquiring an additional 9,898 shares during the period. Finally, Cresset Asset Management LLC boosted its holdings in nVent Electric by 57.7% during the 2nd quarter. Cresset Asset Management LLC now owns 8,136 shares of the company’s stock valued at $596,000 after acquiring an additional 2,977 shares during the period. Hedge funds and other institutional investors own 90.05% of the company’s stock.

Wall Street Analysts Forecast Growth

NVT has been the subject of a number of recent analyst reports. UBS Group restated a “buy” rating and set a $135.00 price objective on shares of nVent Electric in a report on Friday, March 13th. Roth Mkm boosted their price objective on nVent Electric from $130.00 to $135.00 and gave the company a “buy” rating in a report on Monday, March 23rd. Royal Bank Of Canada boosted their price objective on nVent Electric from $138.00 to $143.00 and gave the company an “outperform” rating in a report on Thursday, March 19th. Barclays boosted their price objective on nVent Electric from $141.00 to $150.00 and gave the company an “overweight” rating in a report on Wednesday, April 1st. Finally, Citigroup boosted their price objective on nVent Electric from $133.00 to $152.00 and gave the company a “buy” rating in a report on Monday, April 13th. Eleven analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $144.00.

nVent Electric Trading Up 1.9%

Shares of NYSE NVT opened at $142.82 on Friday. The company has a quick ratio of 1.16, a current ratio of 1.63 and a debt-to-equity ratio of 0.41. The business has a fifty day simple moving average of $120.43 and a two-hundred day simple moving average of $111.18. The firm has a market cap of $23.09 billion, a PE ratio of 33.21, a price-to-earnings-growth ratio of 1.45 and a beta of 1.28. nVent Electric PLC has a twelve month low of $52.60 and a twelve month high of $144.11.

nVent Electric (NYSE:NVT) last issued its earnings results on Saturday, February 7th. The company reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.01. The business had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1 billion. nVent Electric had a return on equity of 15.18% and a net margin of 18.25%.nVent Electric’s revenue was up 41.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.59 EPS. Analysts expect that nVent Electric PLC will post 4.15 earnings per share for the current fiscal year.

nVent Electric Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 8th. Shareholders of record on Friday, April 24th will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, April 24th. This represents a $0.84 dividend on an annualized basis and a yield of 0.6%. nVent Electric’s payout ratio is 19.53%.

Insider Buying and Selling at nVent Electric

In other nVent Electric news, Director Susan M. Cameron sold 5,000 shares of nVent Electric stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $114.52, for a total transaction of $572,600.00. Following the completion of the sale, the director directly owned 13,405 shares of the company’s stock, valued at $1,535,140.60. The trade was a 27.17% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Jerry W. Burris sold 5,244 shares of nVent Electric stock in a transaction on Friday, February 6th. The shares were sold at an average price of $112.27, for a total value of $588,743.88. Following the sale, the director directly owned 46,371 shares of the company’s stock, valued at approximately $5,206,072.17. This trade represents a 10.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 17,841 shares of company stock valued at $2,046,166 in the last ninety days. Corporate insiders own 1.70% of the company’s stock.

About nVent Electric

nVent Electric PLC is a global manufacturer of electrical connection, protection and thermal management solutions. The company designs, engineers and produces a broad portfolio of products aimed at enhancing safety, reliability and performance in electrical systems across a variety of industries. Its core offerings include electrical enclosures, heat tracing systems, grounding and bonding products, cable management, and fastening solutions. nVent serves markets such as commercial and industrial construction, oil and gas, telecommunications, data centers, utilities, and renewable energy.

The company’s electrical enclosures and housing solutions protect sensitive components from environmental hazards, while its Raychem brand heat tracing products provide freeze protection and temperature maintenance for critical piping and equipment.