Impax Asset Management LLC Acquires New Position in nVent Electric PLC (NVT)
Impax Asset Management LLC acquired a new position in nVent Electric PLC (NYSE:NVT) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 43,172 shares of the company’s stock, valued at approximately $1,084,000.
Other large investors have also recently made changes to their positions in the company. First Bank & Trust bought a new position in nVent Electric in the second quarter worth approximately $105,000. Kohmann Bosshard Financial Services LLC bought a new position in nVent Electric in the second quarter worth approximately $113,000. Glen Harbor Capital Management LLC bought a new position in nVent Electric in the second quarter worth approximately $134,000. Riverhead Capital Management LLC bought a new position in nVent Electric in the second quarter worth approximately $152,000. Finally, Tyers Asset Management LLC bought a new stake in nVent Electric during the 2nd quarter valued at $184,000. 81.60% of the stock is currently owned by institutional investors.
Shares of NYSE NVT opened at $28.08 on Tuesday. nVent Electric PLC has a 12-month low of $21.00 and a 12-month high of $29.84. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.53 and a current ratio of 2.12.
The firm also recently announced a quarterly dividend, which was paid on Friday, August 17th. Shareholders of record on Friday, August 3rd were given a dividend of $0.175 per share. The ex-dividend date of this dividend was Thursday, August 2nd. This represents a $0.70 dividend on an annualized basis and a yield of 2.49%.
In other nVent Electric news, Director Randall J. Hogan sold 204,462 shares of the company’s stock in a transaction dated Friday, June 22nd. The shares were sold at an average price of $26.79, for a total transaction of $5,477,536.98. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director William T. Monahan sold 17,133 shares of the company’s stock in a transaction dated Wednesday, September 5th. The shares were sold at an average price of $28.08, for a total transaction of $481,094.64. The disclosure for this sale can be found here.
NVT has been the topic of several recent research reports. Barclays reaffirmed a “hold” rating and set a $25.00 target price on shares of nVent Electric in a research report on Friday, July 27th. Susquehanna Bancshares initiated coverage on nVent Electric in a research report on Friday, May 18th. They set a “positive” rating and a $30.00 target price on the stock. Finally, KeyCorp initiated coverage on nVent Electric in a research report on Tuesday, May 15th. They set an “overweight” rating and a $29.00 target price on the stock. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $28.25.
nVent Electric Company Profile
nVent Electric plc designs, manufactures, markets, installs, and services electrical connection and protection products and solutions in the United States, Canada, and internationally. The company operates through three segments: Enclosures, Thermal Management, and Electrical & Fastening Solutions.
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