nVent Electric plc (NYSE:NVT) Shares Sold by Two Sigma Investments LP

Two Sigma Investments LP cut its stake in shares of nVent Electric plc (NYSE:NVT - Free Report) by 92.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 43,599 shares of the company's stock after selling 519,186 shares during the quarter. Two Sigma Investments LP's holdings in nVent Electric were worth $2,972,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of NVT. Janney Montgomery Scott LLC increased its position in shares of nVent Electric by 3.4% during the fourth quarter. Janney Montgomery Scott LLC now owns 25,661 shares of the company's stock worth $1,749,000 after acquiring an additional 854 shares during the period. Blue Trust Inc. increased its position in shares of nVent Electric by 243.5% during the fourth quarter. Blue Trust Inc. now owns 869 shares of the company's stock worth $61,000 after acquiring an additional 616 shares during the period. Pacer Advisors Inc. increased its position in shares of nVent Electric by 12.4% during the fourth quarter. Pacer Advisors Inc. now owns 55,790 shares of the company's stock worth $3,803,000 after acquiring an additional 6,175 shares during the period. Crews Bank & Trust bought a new position in shares of nVent Electric during the fourth quarter valued at approximately $26,000. Finally, Copeland Capital Management LLC bought a new position in shares of nVent Electric during the fourth quarter valued at approximately $26,889,000. 90.05% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at nVent Electric

In other news, EVP Lynnette R. Heath sold 4,041 shares of nVent Electric stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $61.35, for a total transaction of $247,915.35. Following the completion of the sale, the executive vice president now directly owns 32,665 shares in the company, valued at approximately $2,003,997.75. The trade was a 11.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.80% of the company's stock.

nVent Electric Stock Up 0.4%

NVT traded up $0.24 during trading on Wednesday, hitting $66.46. The stock had a trading volume of 1,070,851 shares, compared to its average volume of 1,937,219. The company has a market capitalization of $10.94 billion, a PE ratio of 33.91, a PEG ratio of 1.48 and a beta of 1.24. nVent Electric plc has a twelve month low of $41.71 and a twelve month high of $82.05. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.28 and a current ratio of 1.73. The stock has a 50 day simple moving average of $57.60 and a two-hundred day simple moving average of $63.95.

nVent Electric (NYSE:NVT - Get Free Report) last announced its earnings results on Friday, May 2nd. The company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.01. The company had revenue of $809.30 million during the quarter, compared to the consensus estimate of $790.74 million. nVent Electric had a net margin of 10.09% and a return on equity of 14.52%. nVent Electric's revenue was up 10.5% compared to the same quarter last year. During the same period last year, the firm earned $0.78 earnings per share. On average, research analysts predict that nVent Electric plc will post 3.04 earnings per share for the current year.

nVent Electric Dividend Announcement

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

Analyst Ratings Changes

A number of research firms have recently issued reports on NVT. Barclays increased their price objective on shares of nVent Electric from $65.00 to $70.00 and gave the company an "overweight" rating in a research note on Monday, May 5th. Citigroup dropped their price objective on shares of nVent Electric from $85.00 to $59.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Seaport Res Ptn upgraded shares of nVent Electric from a "hold" rating to a "strong-buy" rating in a research note on Friday, March 21st. The Goldman Sachs Group dropped their price objective on shares of nVent Electric from $86.00 to $74.00 and set a "buy" rating on the stock in a research note on Wednesday, April 2nd. Finally, Royal Bank of Canada increased their price objective on shares of nVent Electric from $73.00 to $75.00 and gave the company an "outperform" rating in a research note on Monday, May 5th. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $70.00.

nVent Electric Company 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.