Champlain Investment Partners LLC Takes Position in nVent Electric plc (NYSE:NVT)

Champlain Investment Partners LLC acquired a new position in shares of nVent Electric plc (NYSE:NVT) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 1,272,570 shares of the company’s stock, valued at approximately $86,738,000. Champlain Investment Partners LLC owned 0.77% of nVent Electric at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Franklin Resources Inc. increased its stake in shares of nVent Electric by 22.1% in the 3rd quarter. Franklin Resources Inc. now owns 7,020,425 shares of the company’s stock valued at $527,374,000 after purchasing an additional 1,269,335 shares during the last quarter. Norges Bank acquired a new stake in nVent Electric in the fourth quarter valued at about $197,434,000. William Blair Investment Management LLC raised its stake in nVent Electric by 8.8% during the fourth quarter. William Blair Investment Management LLC now owns 2,591,405 shares of the company’s stock worth $176,630,000 after acquiring an additional 210,690 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of nVent Electric by 1.7% in the third quarter. Principal Financial Group Inc. now owns 1,763,254 shares of the company’s stock worth $123,891,000 after acquiring an additional 28,876 shares during the last quarter. Finally, Invesco Ltd. boosted its stake in shares of nVent Electric by 15.0% in the 4th quarter. Invesco Ltd. now owns 1,723,868 shares of the company’s stock valued at $117,499,000 after purchasing an additional 224,657 shares in the last quarter. 90.05% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Royal Bank of Canada boosted their price objective on nVent Electric from $85.00 to $86.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. The Goldman Sachs Group lowered their price objective on shares of nVent Electric from $86.00 to $74.00 and set a “buy” rating for the company in a research note on Wednesday, April 2nd. Seaport Res Ptn upgraded shares of nVent Electric from a “hold” rating to a “strong-buy” rating in a research report on Friday, March 21st. CL King upgraded shares of nVent Electric from a “neutral” rating to a “buy” rating and set a $70.00 price target for the company in a report on Monday, March 17th. Finally, Barclays dropped their price objective on shares of nVent Electric from $70.00 to $65.00 and set an “overweight” rating on the stock in a report on Thursday, April 10th. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $69.00.

nVent Electric Stock Performance

Shares of nVent Electric stock opened at $49.59 on Thursday. nVent Electric plc has a 52 week low of $41.71 and a 52 week high of $86.57. The company has a quick ratio of 1.28, a current ratio of 1.73 and a debt-to-equity ratio of 0.65. The business has a 50 day moving average price of $56.70 and a 200-day moving average price of $66.87. The company has a market cap of $8.16 billion, a PE ratio of 25.30, a price-to-earnings-growth ratio of 1.48 and a beta of 1.21.

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

nVent Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 25th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.61%. The ex-dividend date of this dividend is Friday, April 25th. nVent Electric’s dividend 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.