Mountain Pacific Investment Advisers LLC Has $13.09 Million Stock Position in nVent Electric plc (NYSE:NVT)

Mountain Pacific Investment Advisers LLC raised its position in nVent Electric plc (NYSE:NVT) by 14.9% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 192,050 shares of the company’s stock after acquiring an additional 24,900 shares during the period. Mountain Pacific Investment Advisers LLC owned approximately 0.12% of nVent Electric worth $13,090,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. Larson Financial Group LLC increased its stake in 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 purchasing an additional 181 shares in the last quarter. ORG Wealth Partners LLC acquired a new position in shares of nVent Electric during the third quarter valued at about $29,000. UMB Bank n.a. increased its position in shares of nVent Electric by 280.0% during the third quarter. UMB Bank n.a. now owns 418 shares of the company’s stock worth $29,000 after acquiring an additional 308 shares in the last quarter. Anchor Investment Management LLC increased its position in shares of nVent Electric by 94.0% during the second quarter. Anchor Investment Management LLC now owns 578 shares of the company’s stock worth $44,000 after acquiring an additional 280 shares in the last quarter. Finally, Huntington National Bank raised its holdings in shares of nVent Electric by 57.3% in the 3rd quarter. Huntington National Bank now owns 612 shares of the company’s stock worth $43,000 after acquiring an additional 223 shares during the last quarter. 90.05% of the stock is owned by institutional investors and hedge funds.

nVent Electric Stock Up 1.3 %

NVT stock opened at $72.36 on Tuesday. nVent Electric plc has a 1-year low of $55.62 and a 1-year high of $86.57. The stock has a market cap of $11.93 billion, a P/E ratio of 21.22, a P/E/G ratio of 3.35 and a beta of 1.27. The stock’s fifty day simple moving average is $73.20 and its two-hundred day simple moving average is $71.18. The company has a current ratio of 1.83, a quick ratio of 1.36 and a debt-to-equity ratio of 0.68.

nVent Electric (NYSE:NVT) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $0.63 earnings per share for the quarter, missing the consensus estimate of $0.81 by ($0.18). nVent Electric had a net margin of 16.95% and a return on equity of 15.66%. The company had revenue of $782.00 million for the quarter, compared to the consensus estimate of $937.37 million. nVent Electric’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.84 EPS. Analysts expect that nVent Electric plc will post 2.49 EPS for the current year.

nVent Electric Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, January 17th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date is Friday, January 17th. This is a boost from nVent Electric’s previous quarterly dividend of $0.19. nVent Electric’s payout ratio is 23.46%.

Insider Activity at nVent Electric

In other news, CAO Randolph A. Wacker sold 8,022 shares of nVent Electric stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $75.87, for a total value of $608,629.14. Following the completion of the transaction, the chief accounting officer now owns 25,993 shares in the company, valued at $1,972,088.91. This trade represents a 23.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Jon D. Lammers sold 67,297 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $76.07, for a total transaction of $5,119,282.79. Following the sale, the executive vice president now owns 58,121 shares in the company, valued at $4,421,264.47. The trade was a 53.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 96,382 shares of company stock worth $7,365,956. Insiders own 2.50% of the company’s stock.

Analyst Ratings Changes

NVT has been the subject of a number of recent research reports. KeyCorp boosted their price objective on nVent Electric from $80.00 to $84.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Citigroup decreased their price target on nVent Electric from $91.00 to $90.00 and set a “buy” rating for the company in a report on Monday, January 13th. Royal Bank of Canada raised their price objective on nVent Electric from $80.00 to $85.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. Finally, Barclays upped their target price on shares of nVent Electric from $76.00 to $88.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $86.17.

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.