Graham Capital Management L.P. Sells 16,875 Shares of nVent Electric plc (NYSE:NVT)

Graham Capital Management L.P. reduced its position in shares of nVent Electric plc (NYSE:NVT - Free Report) by 32.3% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 35,427 shares of the company's stock after selling 16,875 shares during the quarter. Graham Capital Management L.P.'s holdings in nVent Electric were worth $2,415,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Focus Partners Wealth grew its holdings in nVent Electric by 2.2% in the 4th quarter. Focus Partners Wealth now owns 119,757 shares of the company's stock valued at $8,188,000 after buying an additional 2,611 shares during the last quarter. Eisler Capital Management Ltd. acquired a new position in nVent Electric in the 4th quarter valued at $8,527,000. Ethic Inc. boosted its stake in shares of nVent Electric by 13.9% in the 4th quarter. Ethic Inc. now owns 29,058 shares of the company's stock valued at $1,981,000 after purchasing an additional 3,535 shares in the last quarter. Deutsche Bank AG increased its position in shares of nVent Electric by 24.7% during the fourth quarter. Deutsche Bank AG now owns 779,209 shares of the company's stock worth $53,111,000 after buying an additional 154,152 shares during the period. Finally, Crestline Management LP boosted its stake in nVent Electric by 90.4% during the 4th quarter. Crestline Management LP now owns 66,259 shares of the company's stock valued at $4,516,000 after purchasing an additional 31,450 shares during the last quarter. 90.05% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

NVT has been the topic of a number of analyst reports. Citigroup decreased 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 report on Monday, April 14th. Royal Bank of Canada upped their price objective on nVent Electric from $73.00 to $75.00 and gave the stock an "outperform" rating in a research note on Monday, May 5th. CL King upgraded nVent Electric from a "neutral" rating to a "buy" rating and set a $70.00 target price for the company in a research report on Monday, March 17th. The Goldman Sachs Group dropped their price objective on nVent Electric from $86.00 to $74.00 and set a "buy" rating for the company in a report on Wednesday, April 2nd. Finally, Seaport Res Ptn upgraded shares of nVent Electric from a "hold" rating to a "strong-buy" rating in a report on Friday, March 21st. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $70.00.

Insider Buying and Selling at nVent Electric

In related news, EVP Lynnette R. Heath sold 4,041 shares of the business's stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $61.35, for a total value of $247,915.35. Following the completion of the transaction, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.80% of the company's stock.

nVent Electric Stock Up 0.8%

NYSE NVT traded up $0.53 on Friday, hitting $67.38. 452,641 shares of the stock traded hands, compared to its average volume of 1,933,911. nVent Electric plc has a twelve month low of $41.71 and a twelve month high of $86.57. The company has a current ratio of 1.73, a quick ratio of 1.28 and a debt-to-equity ratio of 0.65. The stock has a 50-day moving average of $54.85 and a 200 day moving average of $64.75. The company has a market capitalization of $11.09 billion, a P/E ratio of 34.39, a price-to-earnings-growth ratio of 1.48 and a beta of 1.24.

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

nVent Electric Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Friday, July 18th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.19%. nVent Electric's dividend payout ratio (DPR) 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.