Assenagon Asset Management S.A. Has $6.57 Million Position in nVent Electric PLC (NYSE:NVT)

Assenagon Asset Management S.A. cut its stake in shares of nVent Electric PLC (NYSE:NVT - Free Report) by 36.2% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 125,308 shares of the company's stock after selling 71,128 shares during the period. Assenagon Asset Management S.A. owned about 0.08% of nVent Electric worth $6,569,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of NVT. Handelsbanken Fonder AB increased its position in nVent Electric by 25.1% during the first quarter. Handelsbanken Fonder AB now owns 545,354 shares of the company's stock worth $28,587,000 after buying an additional 109,430 shares during the last quarter. SG Americas Securities LLC acquired a new stake in nVent Electric in the 1st quarter worth $815,000. GAMMA Investing LLC raised its position in shares of nVent Electric by 74.3% during the first quarter. GAMMA Investing LLC now owns 3,476 shares of the company's stock valued at $182,000 after buying an additional 1,482 shares during the last quarter. Harbor Capital Advisors Inc. lifted its stake in shares of nVent Electric by 48.8% in the first quarter. Harbor Capital Advisors Inc. now owns 33,200 shares of the company's stock valued at $1,740,000 after buying an additional 10,895 shares during the period. Finally, Farther Finance Advisors LLC grew its position in nVent Electric by 381.0% during the first quarter. Farther Finance Advisors LLC now owns 1,996 shares of the company's stock worth $106,000 after buying an additional 1,581 shares in the last quarter. Hedge funds and other institutional investors own 90.05% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on NVT. Seaport Res Ptn upgraded nVent Electric from a "hold" rating to a "strong-buy" rating in a research report on Friday, March 21st. The Goldman Sachs Group decreased their price target on shares of nVent Electric from $86.00 to $74.00 and set a "buy" rating on the stock in a research note on Wednesday, April 2nd. CL King raised shares of nVent Electric from a "neutral" rating to a "buy" rating and set a $70.00 price target on the stock in a report on Monday, March 17th. Barclays raised their price objective on shares of nVent Electric from $70.00 to $74.00 and gave the stock an "overweight" rating in a report on Monday, June 9th. Finally, KeyCorp upped their target price on shares of nVent Electric from $60.00 to $72.00 and gave the company an "overweight" rating in a research note on Monday, May 5th. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Buy" and an average price target of $70.67.

Insiders Place Their Bets

In other news, EVP Lynnette R. Heath sold 4,041 shares of nVent Electric stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $61.35, for a total value of $247,915.35. Following the completion of the sale, the executive vice president now directly owns 32,665 shares of the company's stock, valued at approximately $2,003,997.75. This trade represents a 11.01% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.50% of the company's stock.

nVent Electric Price Performance

Shares of NVT traded up $1.22 during trading hours on Wednesday, hitting $71.05. The stock had a trading volume of 647,490 shares, compared to its average volume of 1,940,108. The stock has a market capitalization of $11.70 billion, a price-to-earnings ratio of 20.34, a P/E/G ratio of 1.41 and a beta of 1.30. The company's fifty day moving average is $61.11 and its two-hundred day moving average is $63.35. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.87 and a quick ratio of 2.42. nVent Electric PLC has a 52 week low of $41.71 and a 52 week high of $81.55.

nVent Electric (NYSE:NVT - Get Free Report) last released its quarterly earnings results on Friday, May 2nd. The company reported $0.67 earnings per share for the quarter, beating analysts' consensus estimates of $0.66 by $0.01. nVent Electric had a return on equity of 13.54% and a net margin of 18.22%. The firm had revenue of $809.30 million during the quarter, compared to analysts' expectations of $790.74 million. During the same period last year, the firm posted $0.78 EPS. The business's revenue was up 10.5% on a year-over-year basis. On average, analysts anticipate that nVent Electric PLC will post 3.04 EPS for the current year.

nVent Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Friday, July 18th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.13%. The ex-dividend date of this dividend is Friday, July 18th. nVent Electric's payout ratio is presently 22.86%.

nVent Electric Company Profile

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.