Vanguard Group Inc. Lowers Stake in nVent Electric PLC $NVT

Key Points

• Vanguard reduced its stake in nVent by 1.9% in Q4, selling 310,574 shares to hold 15,704,206 shares (about 9.73% of the company) valued at $1.601 billion; institutional investors now own roughly 90.05% of the stock.
• nVent beat quarterly estimates, reporting $0.90 EPS vs. $0.89 and $1.07B in revenue vs. $1.00B, with revenue up 41.9% year‑over‑year and healthy margins; the stock trades near its 52‑week high and the company has a $23.19B market cap.
• Dividend and analyst outlook: the firm declared a $0.21 quarterly dividend (annualized $0.84, yield 0.6%, ex‑dividend Apr 24), and analysts’ average target is $144 with 11 Buy ratings and 1 Hold.

Vanguard Group Inc. reduced its holdings in shares of nVent Electric PLC (NYSE:NVT - Free Report) by 1.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 15,704,206 shares of the company's stock after selling 310,574 shares during the period. Vanguard Group Inc. owned approximately 9.73% of nVent Electric worth $1,601,358,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. AQR Capital Management LLC boosted its holdings in shares of nVent Electric by 33.1% in the first quarter. AQR Capital Management LLC now owns 94,968 shares of the company's stock valued at $4,841,000 after acquiring an additional 23,606 shares in the last quarter. Jones Financial Companies Lllp boosted its holdings in shares of nVent Electric by 575.6% in the first quarter. Jones Financial Companies Lllp now owns 8,803 shares of the company's stock valued at $461,000 after acquiring an additional 7,500 shares in the last quarter. Geneos Wealth Management Inc. boosted its holdings in shares of nVent Electric by 436.0% in the first quarter. Geneos Wealth Management Inc. now owns 1,072 shares of the company's stock valued at $56,000 after acquiring an additional 872 shares in the last quarter. Marshall Wace LLP boosted its holdings in shares of nVent Electric by 31.8% in the second quarter. Marshall Wace LLP now owns 41,061 shares of the company's stock valued at $3,008,000 after acquiring an additional 9,898 shares in the last quarter. Finally, Cresset Asset Management LLC boosted its holdings in shares of nVent Electric by 57.7% in the second quarter. Cresset Asset Management LLC now owns 8,136 shares of the company's stock valued at $596,000 after acquiring an additional 2,977 shares in the last quarter. 90.05% of the stock is owned by hedge funds and other institutional investors.

nVent Electric Stock Up 4.4%

Shares of NYSE NVT opened at $143.39 on Friday. The company has a quick ratio of 1.16, a current ratio of 1.63 and a debt-to-equity ratio of 0.41. nVent Electric PLC has a 52 week low of $55.63 and a 52 week high of $145.31. The firm has a 50-day moving average price of $123.02 and a 200 day moving average price of $112.68. The stock has a market capitalization of $23.19 billion, a price-to-earnings ratio of 33.35, a price-to-earnings-growth ratio of 1.43 and a beta of 1.28.

nVent Electric (NYSE:NVT - Get Free Report) last announced its earnings results on Saturday, February 7th. The company reported $0.90 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.89 by $0.01. The company had revenue of $1.07 billion during the quarter, compared to analysts' expectations of $1 billion. nVent Electric had a net margin of 18.25% and a return on equity of 15.18%. The firm's quarterly revenue was up 41.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.59 earnings per share. Equities research analysts anticipate that nVent Electric PLC will post 4.15 EPS for the current fiscal year.

nVent Electric Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 8th. Shareholders of record on Friday, April 24th will be given a dividend of $0.21 per share. The ex-dividend date is Friday, April 24th. This represents a $0.84 dividend on an annualized basis and a yield of 0.6%. nVent Electric's payout ratio is presently 19.53%.

Analysts Set New Price Targets

Several analysts have recently weighed in on NVT shares. KeyCorp lifted their target price on shares of nVent Electric from $125.00 to $130.00 and gave the company an "overweight" rating in a report on Monday, February 9th. Weiss Ratings upgraded shares of nVent Electric from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday, March 11th. Royal Bank Of Canada raised their price objective on shares of nVent Electric from $138.00 to $143.00 and gave the company an "outperform" rating in a research note on Thursday, March 19th. Zacks Research cut shares of nVent Electric from a "strong-buy" rating to a "hold" rating in a research note on Friday, February 6th. Finally, Wall Street Zen cut shares of nVent Electric from a "strong-buy" rating to a "buy" rating in a research note on Monday, February 23rd. Eleven equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $144.00.

Insiders Place Their Bets

In other nVent Electric news, Director Susan M. Cameron sold 5,000 shares of nVent Electric stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $114.52, for a total transaction of $572,600.00. Following the completion of the transaction, the director owned 13,405 shares in the company, valued at approximately $1,535,140.60. The trade was a 27.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Jerry W. Burris sold 5,244 shares of nVent Electric stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $112.27, for a total transaction of $588,743.88. Following the transaction, the director owned 46,371 shares of the company's stock, valued at approximately $5,206,072.17. The trade was a 10.16% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 17,841 shares of company stock worth $2,046,166. Insiders own 1.70% of the company's stock.

About nVent Electric

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.

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