Franklin Resources Inc. Trims Position in nVent Electric PLC $NVT

Key Points

• Franklin Resources cut its nVent Electric stake by 22.7% in the fourth quarter, selling 1.37 million shares and ending with about 4.67 million shares worth roughly $476 million.
• Insiders have been selling shares, including CMO Martha Claire Bennett and CAO Randolph A. Wacker, while total insider sales over the last quarter reached 87,685 shares valued at about $15 million.
• Analysts remain bullish on nVent Electric after strong earnings and raised price targets, with the stock reporting better-than-expected Q1 results, a new $500 million buyback authorization, and a quarterly dividend of $0.21 per share.

Franklin Resources Inc. decreased its holdings in shares of nVent Electric PLC (NYSE:NVT - Free Report) by 22.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,667,858 shares of the company's stock after selling 1,372,582 shares during the period. Franklin Resources Inc. owned approximately 2.89% of nVent Electric worth $475,981,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. AQR Capital Management LLC grew its stake in shares of nVent Electric by 33.1% in the 1st quarter. AQR Capital Management LLC now owns 94,968 shares of the company's stock valued at $4,841,000 after purchasing an additional 23,606 shares during the last quarter. Jones Financial Companies Lllp raised its stake in shares of nVent Electric by 575.6% during the first quarter. Jones Financial Companies Lllp now owns 8,803 shares of the company's stock worth $461,000 after purchasing an additional 7,500 shares during the last quarter. Geneos Wealth Management Inc. lifted its holdings in shares of nVent Electric by 436.0% during the first quarter. Geneos Wealth Management Inc. now owns 1,072 shares of the company's stock worth $56,000 after purchasing an additional 872 shares during the period. Marshall Wace LLP grew its position in nVent Electric by 31.8% in the 2nd quarter. Marshall Wace LLP now owns 41,061 shares of the company's stock valued at $3,008,000 after buying an additional 9,898 shares during the last quarter. Finally, Cresset Asset Management LLC grew its position in nVent Electric by 57.7% in the 2nd quarter. Cresset Asset Management LLC now owns 8,136 shares of the company's stock valued at $596,000 after buying an additional 2,977 shares during the last quarter. Institutional investors and hedge funds own 90.05% of the company's stock.

Insiders Place Their Bets

In other news, CMO Martha Claire Bennett sold 3,778 shares of nVent Electric stock in a transaction on Monday, May 11th. The stock was sold at an average price of $170.00, for a total transaction of $642,260.00. Following the completion of the transaction, the chief marketing officer owned 225 shares of the company's stock, valued at $38,250. The trade was a 94.38% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Randolph A. Wacker sold 4,094 shares of the business's stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $165.57, for a total transaction of $677,843.58. Following the completion of the sale, the chief accounting officer owned 49,873 shares in the company, valued at $8,257,472.61. This represents a 7.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 87,685 shares of company stock valued at $14,961,768. Company insiders own 1.70% of the company's stock.

Analyst Ratings Changes

A number of brokerages have commented on NVT. KeyCorp upped their price objective on shares of nVent Electric from $140.00 to $185.00 and gave the stock an "overweight" rating in a research report on Monday, May 4th. Zacks Research upgraded shares of nVent Electric from a "hold" rating to a "strong-buy" rating in a research report on Monday, May 4th. Royal Bank Of Canada lifted their price objective on nVent Electric from $151.00 to $180.00 and gave the company an "outperform" rating in a report on Monday, May 4th. Evercore reissued an "outperform" rating and set a $190.00 target price on shares of nVent Electric in a research note on Monday, May 4th. Finally, Roth Mkm reissued a "buy" rating and issued a $185.00 price target on shares of nVent Electric in a report on Monday, May 4th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, nVent Electric currently has an average rating of "Buy" and an average target price of $184.20.

nVent Electric Stock Up 0.4%

NVT stock opened at $163.52 on Tuesday. The company has a current ratio of 1.70, a quick ratio of 1.21 and a debt-to-equity ratio of 0.41. The company's 50-day moving average price is $149.06 and its 200 day moving average price is $123.86. nVent Electric PLC has a 52 week low of $67.21 and a 52 week high of $178.00. The company has a market cap of $26.44 billion, a P/E ratio of 54.33, a P/E/G ratio of 1.54 and a beta of 1.35.

nVent Electric (NYSE:NVT - Get Free Report) last posted its quarterly earnings results on Friday, May 1st. The company reported $1.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.94 by $0.15. The company had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.11 billion. nVent Electric had a net margin of 11.37% and a return on equity of 16.82%. The company's revenue for the quarter was up 53.5% on a year-over-year basis. During the same period last year, the firm earned $0.67 EPS. nVent Electric has set its Q2 2026 guidance at 1.120-1.150 EPS and its FY 2026 guidance at 4.450-4.550 EPS. On average, research analysts expect that nVent Electric PLC will post 4.55 earnings per share for the current fiscal year.

nVent Electric declared that its Board of Directors has initiated a stock repurchase plan on Saturday, May 16th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 1.8% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's board believes its stock is undervalued.

nVent Electric Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 7th. Shareholders of record on Friday, July 24th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Friday, July 24th. This represents a $0.84 annualized dividend and a yield of 0.5%. nVent Electric's dividend payout ratio is 27.91%.

About nVent Electric

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.