Assenagon Asset Management S.A. Cuts Stock Position in nVent Electric plc (NYSE:NVT)

Assenagon Asset Management S.A. reduced its position in nVent Electric plc (NYSE:NVT - Free Report) by 36.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 125,308 shares of the company's stock after selling 71,128 shares during the quarter. Assenagon Asset Management S.A. owned about 0.08% of nVent Electric worth $6,569,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Capital A Wealth Management LLC bought a new position in shares of nVent Electric in the fourth quarter worth approximately $27,000. Whipplewood Advisors LLC boosted its holdings in shares of nVent Electric by 467.3% during the 1st quarter. Whipplewood Advisors LLC now owns 607 shares of the company's stock valued at $32,000 after buying an additional 500 shares in the last quarter. Park Square Financial Group LLC bought a new stake in shares of nVent Electric during the 4th quarter valued at $38,000. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of nVent Electric by 43.9% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 1,112 shares of the company's stock valued at $58,000 after buying an additional 339 shares in the last quarter. Finally, SBI Securities Co. Ltd. purchased a new position in shares of nVent Electric in the 4th quarter worth about $65,000. 90.05% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Lynnette R. Heath sold 4,041 shares of the stock in a transaction that occurred on 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 transaction, the executive vice president now directly owns 32,665 shares in the company, valued at approximately $2,003,997.75. This represents a 11.01% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.80% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Royal Bank of Canada boosted their target price on nVent Electric from $73.00 to $75.00 and gave the stock an "outperform" rating in a research report on Monday, May 5th. Seaport Res Ptn raised nVent Electric from a "hold" rating to a "strong-buy" rating in a research report on Friday, March 21st. KeyCorp boosted their target price on nVent Electric from $60.00 to $72.00 and gave the stock an "overweight" rating in a research report on Monday, May 5th. Citigroup reduced their price target on shares of nVent Electric from $85.00 to $59.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Finally, CL King raised shares of nVent Electric from a "neutral" rating to a "buy" rating and set a $70.00 price target for the company in a research report on Monday, March 17th. Six 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 has an average rating of "Buy" and a consensus target price of $70.67.

nVent Electric Stock Performance

Shares of NYSE NVT traded down $1.65 during midday trading on Friday, hitting $68.11. 1,101,468 shares of the company's stock traded hands, compared to its average volume of 1,944,991. nVent Electric plc has a 1 year low of $41.71 and a 1 year high of $81.55. The stock has a market capitalization of $11.21 billion, a price-to-earnings ratio of 34.75, a price-to-earnings-growth ratio of 1.48 and a beta of 1.30. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.28 and a current ratio of 1.73. The firm has a fifty day moving average of $60.24 and a 200 day moving average of $63.46.

nVent Electric (NYSE:NVT - Get Free Report) last posted its quarterly earnings results on Friday, May 2nd. The company reported $0.67 earnings per share for the quarter, topping 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 business had revenue of $809.30 million during the quarter, compared to the consensus estimate of $790.74 million. During the same period in the prior year, the company posted $0.78 EPS. The firm's revenue for the quarter was up 10.5% compared to the same quarter last year. On average, analysts forecast that nVent Electric plc will post 3.04 earnings per share for the current year.

nVent Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Friday, July 18th will be paid a $0.20 dividend. The ex-dividend date is Friday, July 18th. This represents a $0.80 annualized dividend and a yield of 1.17%. nVent Electric's payout ratio is 22.86%.

nVent Electric 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.