nVent Electric PLC $NVT Shares Sold by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management S.A. reduced its holdings in nVent Electric PLC by 35.3%, owning 81,029 shares valued at approximately $5.93 million after selling 44,279 shares in the second quarter.
• Analysts have a strong consensus on nVent Electric with an average rating of "Buy" and a consensus target price of $90.43, with several firms raising their price targets in recent months.
• The company declared a quarterly dividend of $0.20 per share, with an ex-dividend date of October 17, representing an annualized yield of 0.8% and a payout ratio of 22.79%.

Assenagon Asset Management S.A. lessened its holdings in nVent Electric PLC (NYSE:NVT - Free Report) by 35.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 81,029 shares of the company's stock after selling 44,279 shares during the quarter. Assenagon Asset Management S.A.'s holdings in nVent Electric were worth $5,935,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Alliance Wealth Advisors LLC UT lifted its stake in nVent Electric by 1.1% in the first quarter. Alliance Wealth Advisors LLC UT now owns 14,192 shares of the company's stock valued at $744,000 after buying an additional 159 shares during the last quarter. Davis R M Inc. lifted its stake in nVent Electric by 4.0% in the first quarter. Davis R M Inc. now owns 5,200 shares of the company's stock valued at $273,000 after buying an additional 200 shares during the last quarter. Portside Wealth Group LLC lifted its stake in nVent Electric by 3.2% in the first quarter. Portside Wealth Group LLC now owns 7,152 shares of the company's stock valued at $375,000 after buying an additional 219 shares during the last quarter. Parallel Advisors LLC lifted its stake in nVent Electric by 15.6% in the first quarter. Parallel Advisors LLC now owns 1,702 shares of the company's stock valued at $89,000 after buying an additional 230 shares during the last quarter. Finally, TIAA Trust National Association lifted its stake in nVent Electric by 6.3% in the first quarter. TIAA Trust National Association now owns 4,187 shares of the company's stock valued at $219,000 after buying an additional 247 shares during the last quarter. Institutional investors and hedge funds own 90.05% of the company's stock.

Analyst Ratings Changes

A number of research firms have issued reports on NVT. KeyCorp raised their target price on nVent Electric from $78.00 to $84.00 and gave the company an "overweight" rating in a research note on Tuesday, July 15th. Barclays reiterated an "overweight" rating on shares of nVent Electric in a research note on Monday, August 4th. The Goldman Sachs Group lifted their price objective on shares of nVent Electric from $99.00 to $111.00 and gave the company a "buy" rating in a research note on Tuesday, September 16th. Roth Capital restated a "buy" rating and set a $100.00 price objective (up from $89.00) on shares of nVent Electric in a research note on Monday, August 4th. Finally, Wall Street Zen upgraded shares of nVent Electric from a "hold" rating to a "buy" rating in a research note on Saturday, July 12th. One equities research analyst has rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $90.43.

nVent Electric Trading Down 2.6%

Shares of NVT opened at $97.67 on Wednesday. The business's 50-day moving average price is $88.37 and its 200 day moving average price is $70.96. The stock has a market capitalization of $15.72 billion, a P/E ratio of 27.83, a P/E/G ratio of 1.56 and a beta of 1.39. nVent Electric PLC has a 1-year low of $41.71 and a 1-year high of $101.06. The company has a current ratio of 1.67, a quick ratio of 1.20 and a debt-to-equity ratio of 0.50.

nVent Electric (NYSE:NVT - Get Free Report) last issued its quarterly earnings results on Friday, August 1st. The company reported $0.86 earnings per share for the quarter, topping analysts' consensus estimates of $0.79 by $0.07. The firm had revenue of $963.10 million for the quarter, compared to analysts' expectations of $906.96 million. nVent Electric had a return on equity of 13.36% and a net margin of 17.72%.nVent Electric's revenue was up 30.1% on a year-over-year basis. During the same quarter last year, the business posted $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. Analysts expect that nVent Electric PLC will post 3.04 earnings per share for the current year.

nVent Electric Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 7th. Stockholders of record on Friday, October 17th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Friday, October 17th. nVent Electric's payout ratio is currently 22.79%.

Insider Buying and Selling at nVent Electric

In other news, insider Sara E. Zawoyski sold 22,109 shares of nVent Electric stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $89.54, for a total transaction of $1,979,639.86. Following the completion of the sale, the insider directly owned 66,640 shares in the company, valued at $5,966,945.60. The trade was a 24.91% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Aravind Padmanabhan sold 24,534 shares of nVent Electric stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $90.00, for a total value of $2,208,060.00. Following the sale, the executive vice president owned 12,063 shares of the company's stock, valued at approximately $1,085,670. This represents a 67.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 261,111 shares of company stock worth $23,367,520 over the last quarter. Insiders own 2.50% of the company's stock.

About nVent Electric

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.

Want to see what other hedge funds are holding NVT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for nVent Electric PLC (NYSE:NVT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.