Magnetar Financial LLC Sells 35,693 Shares of nVent Electric PLC $NVT

Key Points

• Magnetar Financial LLC significantly reduced its holdings in nVent Electric PLC by 80.6%, bringing their stake down to 8,591 shares worth approximately $450,000.
• Insider trading activity saw notable sales, with EVP Lynnette R. Heath selling 17,853 shares valued at approximately $1.6 million and EVP Aravind Padmanabhan selling 24,534 shares for about $2.2 million.
• Analysts are optimistic about nVent Electric, with several firms increasing their price targets, resulting in a consensus "Buy" rating and an average price target of $87.00.

Magnetar Financial LLC reduced its position in nVent Electric PLC (NYSE:NVT - Free Report) by 80.6% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 8,591 shares of the company's stock after selling 35,693 shares during the period. Magnetar Financial LLC's holdings in nVent Electric were worth $450,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the company. Nuveen LLC bought a new stake in nVent Electric in the 1st quarter worth approximately $229,615,000. Millennium Management LLC grew its position in nVent Electric by 743.7% in the 4th quarter. Millennium Management LLC now owns 2,215,624 shares of the company's stock worth $151,017,000 after purchasing an additional 1,953,026 shares during the period. American Century Companies Inc. grew its position in nVent Electric by 1,869.8% in the 1st quarter. American Century Companies Inc. now owns 1,462,840 shares of the company's stock worth $76,682,000 after purchasing an additional 1,388,578 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in nVent Electric by 145.8% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,466,560 shares of the company's stock worth $99,961,000 after purchasing an additional 869,906 shares during the period. Finally, Balyasny Asset Management L.P. grew its position in nVent Electric by 16,062.5% in the 4th quarter. Balyasny Asset Management L.P. now owns 875,197 shares of the company's stock worth $59,653,000 after purchasing an additional 869,782 shares during the period. 90.05% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on NVT shares. Royal Bank Of Canada reissued an "outperform" rating and set a $102.00 price objective (up previously from $85.00) on shares of nVent Electric in a research report on Monday, August 4th. Barclays reissued an "overweight" rating on shares of nVent Electric in a research report on Monday, August 4th. The Goldman Sachs Group boosted their price objective on shares of nVent Electric from $78.00 to $87.00 and gave the company a "buy" rating in a research report on Monday, July 7th. KeyCorp boosted their price objective on shares of nVent Electric from $78.00 to $84.00 and gave the company an "overweight" rating in a research report on Tuesday, July 15th. Finally, Wall Street Zen raised shares of nVent Electric from a "hold" rating to a "buy" rating in a research report on Saturday, July 12th. One research analyst has rated the stock with a Strong Buy rating and seven have issued a Buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $87.00.

Insiders Place Their Bets

In other news, CEO Beth Wozniak sold 42,331 shares of the company's stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $89.21, for a total transaction of $3,776,348.51. Following the sale, the chief executive officer directly owned 49,196 shares in the company, valued at approximately $4,388,775.16. This represents a 46.25% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Sara E. Zawoyski sold 22,109 shares of the company's stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $89.54, for a total transaction of $1,979,639.86. Following the sale, the insider owned 66,640 shares in the company, valued at $5,966,945.60. This represents a 24.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 261,111 shares of company stock worth $23,367,520. 2.50% of the stock is owned by corporate insiders.

nVent Electric Price Performance

NVT stock traded down $0.12 during mid-day trading on Wednesday, hitting $89.36. The company had a trading volume of 1,054,855 shares, compared to its average volume of 1,663,329. The company has a market capitalization of $14.38 billion, a price-to-earnings ratio of 25.46, a P/E/G ratio of 1.46 and a beta of 1.39. nVent Electric PLC has a 12-month low of $41.71 and a 12-month high of $92.95. The company has a quick ratio of 1.20, a current ratio of 1.67 and a debt-to-equity ratio of 0.50. The company has a 50-day moving average price of $82.33 and a 200 day moving average price of $67.54.

nVent Electric (NYSE:NVT - Get Free Report) last announced its quarterly earnings results on Friday, August 1st. The company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.79 by $0.07. The business had revenue of $963.10 million for the quarter, compared to analysts' expectations of $906.96 million. nVent Electric had a net margin of 17.72% and a return on equity of 13.36%. The business's quarterly revenue was up 30.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.82 EPS. nVent Electric has set its Q3 2025 guidance at 0.860-0.880 EPS. FY 2025 guidance at 3.220-3.300 EPS. On average, research analysts anticipate that nVent Electric PLC will post 3.04 earnings per share for the current year.

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.