nVent Electric plc (NYSE:NVT) Stock Position Reduced by Two Sigma Advisers LP

Two Sigma Advisers LP trimmed its position in shares of nVent Electric plc (NYSE:NVT - Free Report) by 93.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 22,600 shares of the company's stock after selling 325,000 shares during the period. Two Sigma Advisers LP's holdings in nVent Electric were worth $1,540,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Temasek Holdings Private Ltd boosted its holdings in nVent Electric by 224.2% in the fourth quarter. Temasek Holdings Private Ltd now owns 150,383 shares of the company's stock valued at $10,250,000 after acquiring an additional 103,995 shares during the last quarter. Teza Capital Management LLC lifted its stake in shares of nVent Electric by 190.9% in the 4th quarter. Teza Capital Management LLC now owns 25,600 shares of the company's stock valued at $1,745,000 after purchasing an additional 16,800 shares in the last quarter. Siemens Fonds Invest GmbH purchased a new stake in shares of nVent Electric during the 4th quarter worth about $75,000. Silvercrest Asset Management Group LLC increased its position in nVent Electric by 2.0% during the 4th quarter. Silvercrest Asset Management Group LLC now owns 116,160 shares of the company's stock worth $7,917,000 after purchasing an additional 2,305 shares in the last quarter. Finally, Royal Bank of Canada increased its position in nVent Electric by 13.2% during the 4th quarter. Royal Bank of Canada now owns 530,064 shares of the company's stock worth $36,130,000 after purchasing an additional 61,971 shares in the last quarter. 90.05% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. The Goldman Sachs Group decreased their price objective on shares of nVent Electric from $86.00 to $74.00 and set a "buy" rating for the company in a research note on Wednesday, April 2nd. Barclays upped their target price on nVent Electric from $65.00 to $70.00 and gave the stock an "overweight" rating in a research report on Monday, May 5th. Citigroup decreased their price target on nVent Electric from $85.00 to $59.00 and set a "buy" rating for the company in a report on Monday, April 14th. CL King raised shares of nVent Electric from a "neutral" rating to a "buy" rating and set a $70.00 price objective for the company in a research report on Monday, March 17th. Finally, KeyCorp lifted their price objective on shares of nVent Electric from $60.00 to $72.00 and gave the company an "overweight" rating in a research note on Monday, May 5th. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Buy" and an average target price of $70.00.

Insider Buying and Selling at nVent Electric

In other news, EVP Lynnette R. Heath sold 4,041 shares of the business's stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $61.35, for a total value of $247,915.35. Following the completion of the sale, the executive vice president now owns 32,665 shares of the company's stock, valued at approximately $2,003,997.75. The trade was a 11.01% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.80% of the stock is currently owned by insiders.

nVent Electric Stock Up 0.4%

NVT traded up $0.24 on Wednesday, reaching $66.46. The company's stock had a trading volume of 1,070,851 shares, compared to its average volume of 1,937,219. nVent Electric plc has a 1 year low of $41.71 and a 1 year high of $82.05. The business's 50 day moving average is $57.60 and its 200 day moving average is $63.95. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.73 and a quick ratio of 1.28. The stock has a market cap of $10.94 billion, a price-to-earnings ratio of 33.91, a price-to-earnings-growth ratio of 1.48 and a beta of 1.24.

nVent Electric (NYSE:NVT - Get Free Report) last announced its earnings results on Friday, May 2nd. The company reported $0.67 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.66 by $0.01. The company had revenue of $809.30 million for the quarter, compared to analyst estimates of $790.74 million. nVent Electric had a return on equity of 14.52% and a net margin of 10.09%. nVent Electric's quarterly revenue was up 10.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.78 EPS. As a group, research analysts forecast that nVent Electric plc will post 3.04 EPS for the current fiscal year.

nVent Electric Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Friday, July 18th will be issued a $0.20 dividend. The ex-dividend date is Friday, July 18th. This represents a $0.80 annualized dividend and a yield of 1.20%. nVent Electric's dividend payout ratio is presently 22.86%.

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.