nVent Electric PLC $NVT Stock Bought by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management increased its nVent Electric position by 276.4% in the third quarter, acquiring 205,489 additional shares and bringing its holdings to 279,821 shares worth approximately $44.9 million. Institutional investors and hedge funds collectively own 90.05% of the company.
• Analysts remain broadly bullish, with nVent Electric receiving a consensus “Buy” rating and an average price target of $200.81. Recent ratings included Wells Fargo’s “equal weight” view and Robert W. Baird’s price-target increase to $200.
• nVent reported quarterly EPS of $1.45, beating estimates of $1.16, while revenue rose 52.8% year over year to $1.47 billion. The company also declared a quarterly dividend of $0.21 per share, while insiders sold roughly 74,644 shares worth $12.3 million during the quarter.

Assenagon Asset Management S.A. increased its position in nVent Electric PLC (NYSE:NVT - Free Report) by 276.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 279,821 shares of the company's stock after buying an additional 205,489 shares during the period. Assenagon Asset Management S.A. owned 0.17% of nVent Electric worth $44,875,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the company. Elevation Wealth Partners LLC lifted its holdings in shares of nVent Electric by 554.5% in the 2nd quarter. Elevation Wealth Partners LLC now owns 216 shares of the company's stock worth $37,000 after purchasing an additional 183 shares in the last quarter. MCF Advisors LLC increased its stake in nVent Electric by 236.1% during the 2nd quarter. MCF Advisors LLC now owns 242 shares of the company's stock valued at $41,000 after purchasing an additional 170 shares in the last quarter. Financial Consulate Inc. increased its stake in nVent Electric by 1,431.2% during the 2nd quarter. Financial Consulate Inc. now owns 245 shares of the company's stock valued at $42,000 after purchasing an additional 229 shares in the last quarter. Basecamp Wealth Advisors LLC increased its stake in nVent Electric by 136.3% during the 1st quarter. Basecamp Wealth Advisors LLC now owns 371 shares of the company's stock valued at $44,000 after purchasing an additional 214 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd acquired a new position in nVent Electric during the fourth quarter worth $45,000. 90.05% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on NVT. Wells Fargo & Company initiated coverage on shares of nVent Electric in a report on Thursday, September 24th. They issued an "equal weight" rating and a $182.00 target price on the stock. Sanford C. Bernstein reissued an "outperform" rating on shares of nVent Electric in a report on Friday, October 2nd. Robert W. Baird increased their price objective on nVent Electric from $188.00 to $200.00 and gave the company an "outperform" rating in a report on Monday, August 3rd. Clear Str upgraded shares of nVent Electric to a "strong-buy" rating in a research report on Monday, July 13th. Finally, UBS Group reissued a "buy" rating on shares of nVent Electric in a report on Tuesday, August 25th. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, nVent Electric has an average rating of "Buy" and a consensus target price of $200.81.

nVent Electric Trading Down 2.5%

Shares of NVT opened at $142.11 on Friday. The business's 50-day moving average price is $158.96 and its 200-day moving average price is $156.24. nVent Electric PLC has a twelve month low of $93.22 and a twelve month high of $184.64. The stock has a market cap of $23.00 billion, a PE ratio of 38.83, a P/E/G ratio of 0.77 and a beta of 1.35. The company has a quick ratio of 1.33, a current ratio of 1.80 and a debt-to-equity ratio of 0.37.

nVent Electric (NYSE:NVT - Get Free Report) last announced its quarterly earnings results on Friday, July 31st. The company reported $1.45 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.16 by $0.29. The firm had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.26 billion. nVent Electric had a net margin of 12.38% and a return on equity of 18.85%. The company's revenue for the quarter was up 52.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.86 earnings per share. nVent Electric has set its Q3 2026 guidance at 1.350-1.380 EPS and its FY 2026 guidance at 5.000-5.100 EPS. On average, equities analysts forecast that nVent Electric PLC will post 5.13 EPS for the current fiscal year.

nVent Electric Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 6th. Investors of record on Friday, October 23rd will be given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date is Friday, October 23rd. nVent Electric's dividend payout ratio (DPR) is 22.95%.

Insider Activity at nVent Electric

In related news, insider Robert van der Kolk sold 5,858 shares of nVent Electric stock in a transaction on Monday, August 10th. The stock was sold at an average price of $164.32, for a total transaction of $962,586.56. Following the completion of the sale, the insider owned 27,387 shares of the company's stock, valued at approximately $4,500,231.84. This trade represents a 17.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Beth Wozniak sold 46,261 shares of the business's stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $164.42, for a total value of $7,606,233.62. Following the transaction, the chief executive officer owned 55,612 shares of the company's stock, valued at approximately $9,143,725.04. The trade was a 45.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 74,644 shares of company stock valued at $12,276,886. Company insiders own 1.70% of the company's stock.

nVent Electric Company Profile

nVent Electric plc is a global provider of electrical connection and protection solutions. The company designs and manufactures products that help protect, connect and manage electrical, electronic and critical infrastructure systems in industrial, commercial, data center, energy, transportation and other applications.

Its portfolio includes electrical and electronic enclosures, cable management systems, fastening and support products, grounding and bonding solutions, busbar and power distribution equipment, surge protection products, and thermal management systems.

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.