Balyasny Asset Management L.P. Grows Stake in nVent Electric plc (NYSE:NVT)

Balyasny Asset Management L.P. boosted its stake in nVent Electric plc (NYSE:NVT - Free Report) by 16,062.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 875,197 shares of the company's stock after purchasing an additional 869,782 shares during the period. Balyasny Asset Management L.P. owned about 0.53% of nVent Electric worth $59,653,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in NVT. Quadrant Capital Group LLC boosted its position in nVent Electric by 4.1% during the 4th quarter. Quadrant Capital Group LLC now owns 3,807 shares of the company's stock valued at $259,000 after buying an additional 150 shares during the period. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of nVent Electric by 26.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 773 shares of the company's stock worth $53,000 after purchasing an additional 162 shares during the period. Calamos Advisors LLC grew its stake in shares of nVent Electric by 1.6% in the fourth quarter. Calamos Advisors LLC now owns 11,468 shares of the company's stock worth $782,000 after purchasing an additional 176 shares during the last quarter. Utah Retirement Systems lifted its holdings in nVent Electric by 2.3% in the 4th quarter. Utah Retirement Systems now owns 8,923 shares of the company's stock worth $608,000 after buying an additional 200 shares during the period. Finally, Hancock Whitney Corp grew its position in shares of nVent Electric by 1.4% in the 4th quarter. Hancock Whitney Corp now owns 15,031 shares of the company's stock worth $1,025,000 after buying an additional 206 shares during the last quarter. Hedge funds and other institutional investors own 90.05% of the company's stock.

Insider Buying and Selling

In other nVent Electric news, EVP Lynnette R. Heath sold 4,041 shares of the business's stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $61.35, for a total transaction of $247,915.35. Following the completion of the sale, the executive vice president now directly owns 32,665 shares in the company, valued at $2,003,997.75. The trade was a 11.01 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.80% of the stock is currently owned by corporate insiders.

nVent Electric Stock Up 1.3 %

NVT stock traded up $0.80 during trading on Friday, hitting $61.54. 1,660,040 shares of the stock traded hands, compared to its average volume of 1,913,162. The firm's 50 day moving average is $53.86 and its two-hundred day moving average is $64.87. nVent Electric plc has a 1 year low of $41.71 and a 1 year high of $86.57. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.73 and a quick ratio of 1.28. The stock has a market cap of $10.13 billion, a price-to-earnings ratio of 31.40, a price-to-earnings-growth ratio of 1.48 and a beta of 1.24.

nVent Electric (NYSE:NVT - Get Free Report) last released its quarterly earnings data on Friday, May 2nd. The company reported $0.67 EPS for the quarter, beating the consensus estimate of $0.66 by $0.01. nVent Electric had a return on equity of 14.52% and a net margin of 10.09%. The company had revenue of $809.30 million for the quarter, compared to analysts' expectations of $790.74 million. During the same period last year, the firm posted $0.78 earnings per share. nVent Electric's revenue was up 10.5% compared to the same quarter last year. On average, sell-side analysts anticipate that nVent Electric plc will post 3.04 EPS for the current year.

nVent Electric Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 9th. Investors of record on Friday, April 25th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.30%. The ex-dividend date of this dividend was Friday, April 25th. nVent Electric's dividend payout ratio is currently 22.86%.

Analysts Set New Price Targets

NVT has been the subject of a number of recent analyst reports. KeyCorp upped their target price on nVent Electric from $60.00 to $72.00 and gave the company an "overweight" rating in a report on Monday, May 5th. Seaport Res Ptn raised shares of nVent Electric from a "hold" rating to a "strong-buy" rating in a research note on Friday, March 21st. Royal Bank of Canada boosted their price target on shares of nVent Electric from $73.00 to $75.00 and gave the company an "outperform" rating in a research report on Monday, May 5th. 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 report on Wednesday, April 2nd. Finally, Citigroup reduced their target price on nVent Electric from $85.00 to $59.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $70.00.

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.