Assenagon Asset Management S.A. Takes Position in nVent Electric PLC $NVT

Key Points

• Assenagon Asset Management opened a new Q4 position in nVent of 24,147 shares (~$2.46M); other institutions also added stakes and hedge funds/institutional investors now own 90.05% of the company.
• Company insiders have been net sellers recently — Director Jerry W. Burris sold 5,244 shares and CEO Beth Wozniak sold 7,597 shares, with insiders selling 17,841 shares (~$2.05M) in the past three months and owning 2.50% of stock.
• Analysts hold a consensus "Moderate Buy" (10 Buys, 1 Hold) with an average target of $138.50; nVent slightly topped Q results (EPS $0.90 vs. $0.89) with revenue of $1.07B, up 41.9% YoY.

Assenagon Asset Management S.A. purchased a new position in shares of nVent Electric PLC (NYSE:NVT - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 24,147 shares of the company's stock, valued at approximately $2,462,000.

Other large investors also recently bought and sold shares of the company. TABR Capital Management LLC purchased a new position in nVent Electric in the 4th quarter worth approximately $3,284,000. Wealth Enhancement Advisory Services LLC grew its position in shares of nVent Electric by 1.2% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 38,097 shares of the company's stock valued at $4,194,000 after purchasing an additional 449 shares in the last quarter. Sanders Morris Harris LLC acquired a new stake in shares of nVent Electric in the fourth quarter valued at approximately $208,000. Nordea Investment Management AB lifted its position in nVent Electric by 130.0% during the fourth quarter. Nordea Investment Management AB now owns 298,175 shares of the company's stock worth $30,664,000 after buying an additional 168,520 shares in the last quarter. Finally, Everhart Financial Group Inc. lifted its position in nVent Electric by 64.9% during the fourth quarter. Everhart Financial Group Inc. now owns 12,571 shares of the company's stock worth $1,282,000 after buying an additional 4,946 shares in the last quarter. Hedge funds and other institutional investors own 90.05% of the company's stock.

Insider Activity

In other news, Director Jerry W. Burris sold 5,244 shares of the company's stock in a transaction that occurred 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 transaction, the director directly owned 46,371 shares in the company, valued at approximately $5,206,072.17. This represents a 10.16% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Beth Wozniak sold 7,597 shares of the stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $116.47, for a total transaction of $884,822.59. Following the transaction, the chief executive officer directly owned 52,990 shares of the company's stock, valued at $6,171,745.30. The trade was a 12.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 17,841 shares of company stock valued at $2,046,166. Company insiders own 2.50% of the company's stock.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Wall Street Zen cut nVent Electric from a "strong-buy" rating to a "buy" rating in a report on Monday, February 23rd. Glj Research started coverage on shares of nVent Electric in a research report on Thursday, March 5th. They set a "buy" rating and a $151.00 price target on the stock. Weiss Ratings raised shares of nVent Electric from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, March 11th. UBS Group restated a "buy" rating and set a $135.00 price objective on shares of nVent Electric in a research report on Friday, March 13th. Finally, Zacks Research lowered shares of nVent Electric from a "strong-buy" rating to a "hold" rating in a report on Friday, February 6th. Ten analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $138.50.

nVent Electric Stock Performance

Shares of nVent Electric stock opened at $112.67 on Tuesday. The firm has a market cap of $18.22 billion, a PE ratio of 26.20, a price-to-earnings-growth ratio of 1.22 and a beta of 1.31. The company has a quick ratio of 1.16, a current ratio of 1.63 and a debt-to-equity ratio of 0.41. nVent Electric PLC has a 52 week low of $41.71 and a 52 week high of $129.94. The business's fifty day simple moving average is $114.87 and its 200-day simple moving average is $107.44.

nVent Electric (NYSE:NVT - Get Free Report) last issued its quarterly earnings data on Saturday, February 7th. The company reported $0.90 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.89 by $0.01. The firm had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1 billion. nVent Electric had a return on equity of 15.18% and a net margin of 18.25%.The company's quarterly revenue was up 41.9% on a year-over-year basis. During the same period last year, the company earned $0.59 EPS. Equities analysts forecast that nVent Electric PLC will post 3.04 earnings per share for the current year.

nVent Electric Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 8th. Stockholders of record on Friday, April 24th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Friday, April 24th. nVent Electric's payout ratio is 19.53%.

nVent Electric Company Profile

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.

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