nVent Electric PLC $NVT Shares Sold by Eventide Asset Management LLC

Eventide Asset Management LLC decreased its stake in shares of nVent Electric PLC (NYSE:NVT - Free Report) by 4.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 514,890 shares of the company's stock after selling 26,443 shares during the period. Eventide Asset Management LLC owned approximately 0.32% of nVent Electric worth $52,551,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Manchester Capital Management LLC increased its stake in nVent Electric by 128.1% during the 4th quarter. Manchester Capital Management LLC now owns 308 shares of the company's stock valued at $31,000 after buying an additional 173 shares during the period. Cullen Frost Bankers Inc. acquired a new position in nVent Electric during the 4th quarter valued at about $32,000. Elyxium Wealth LLC acquired a new position in nVent Electric during the 4th quarter valued at about $36,000. Advisory Services Network LLC acquired a new position in nVent Electric during the 3rd quarter valued at about $35,000. Finally, Basepoint Wealth LLC acquired a new position in nVent Electric during the 4th quarter valued at about $40,000. Institutional investors and hedge funds own 90.05% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Roth Mkm reaffirmed a "buy" rating and issued a $185.00 price objective on shares of nVent Electric in a research note on Monday, May 4th. Barclays lifted their price objective on shares of nVent Electric from $150.00 to $190.00 and gave the stock an "overweight" rating in a research note on Monday, May 4th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and issued a $187.00 price objective on shares of nVent Electric in a research note on Monday, May 4th. Citigroup lifted their price objective on shares of nVent Electric from $152.00 to $187.00 and gave the stock a "buy" rating in a research note on Tuesday, May 5th. Finally, Sanford C. Bernstein set a $218.00 price objective on shares of nVent Electric and gave the stock an "outperform" rating in a research note on Tuesday. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $187.27.

nVent Electric Stock Performance

Shares of NVT opened at $166.13 on Friday. The company has a 50-day moving average of $152.70 and a two-hundred day moving average of $125.39. The stock has a market cap of $26.87 billion, a price-to-earnings ratio of 55.19, a PEG ratio of 1.57 and a beta of 1.35. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.70 and a quick ratio of 1.21. nVent Electric PLC has a one year low of $67.79 and a one year high of $178.00.

nVent Electric (NYSE:NVT - Get Free Report) last released its earnings results on Friday, May 1st. The company reported $1.09 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.15. The business had revenue of $1.24 billion for 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 firm's quarterly revenue was up 53.5% compared to the same quarter last year. During the same period last year, the firm posted $0.67 earnings per share. 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, equities research analysts expect that nVent Electric PLC will post 4.55 earnings per share for the current year.

nVent Electric Dividend Announcement

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

nVent Electric declared that its board has authorized a stock repurchase program on Saturday, May 16th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 1.8% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other news, EVP Aravind Padmanabhan sold 15,942 shares of nVent Electric stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $174.00, for a total value of $2,773,908.00. Following the transaction, the executive vice president directly owned 23,243 shares of the company's stock, valued at $4,044,282. This trade represents a 40.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Randolph A. Wacker sold 4,094 shares of nVent Electric stock in a transaction that occurred on 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 transaction, the chief accounting officer directly owned 49,873 shares in the company, valued at approximately $8,257,472.61. This trade represents a 7.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 87,685 shares of company stock valued at $14,961,768 over the last 90 days. 1.70% of the stock is owned by corporate insiders.

nVent Electric Company Profile

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.

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 reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.