Graham Capital Management L.P. Lowers Stock Position in nVent Electric plc (NYSE:NVT)

Graham Capital Management L.P. decreased its holdings in nVent Electric plc (NYSE:NVT - Free Report) by 32.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 35,427 shares of the company's stock after selling 16,875 shares during the period. Graham Capital Management L.P.'s holdings in nVent Electric were worth $2,415,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of NVT. Capital Research Global Investors purchased a new stake in nVent Electric in the 4th quarter worth approximately $384,749,000. Norges Bank bought a new position in shares of nVent Electric in the fourth quarter worth $197,434,000. Champlain Investment Partners LLC purchased a new stake in shares of nVent Electric in the fourth quarter worth $86,738,000. Balyasny Asset Management L.P. boosted its stake in nVent Electric by 16,062.5% during the fourth quarter. Balyasny Asset Management L.P. now owns 875,197 shares of the company's stock valued at $59,653,000 after buying an additional 869,782 shares during the period. Finally, Pictet Asset Management Holding SA boosted its stake in nVent Electric by 3,186.9% during the fourth quarter. Pictet Asset Management Holding SA now owns 711,343 shares of the company's stock valued at $48,485,000 after buying an additional 689,701 shares during the period. Institutional investors own 90.05% of the company's stock.

nVent Electric Trading Up 2.4%

NVT stock traded up $1.62 during midday trading on Tuesday, hitting $68.16. The company had a trading volume of 4,026,628 shares, compared to its average volume of 1,930,611. The stock has a market cap of $11.22 billion, a price-to-earnings ratio of 34.78, a PEG ratio of 1.48 and a beta of 1.24. nVent Electric plc has a 52 week low of $41.71 and a 52 week 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's 50 day moving average price is $54.32 and its 200 day moving average price is $64.78.

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

nVent Electric Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 9th. Stockholders of record on Friday, April 25th were issued a dividend of $0.20 per share. The ex-dividend date was Friday, April 25th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.17%. nVent Electric's dividend payout ratio is currently 22.86%.

Analyst Ratings Changes

NVT has been the topic of several recent analyst reports. Seaport Res Ptn raised nVent Electric from a "hold" rating to a "strong-buy" rating in a report on Friday, March 21st. Royal Bank of Canada increased their price target on shares of nVent Electric from $73.00 to $75.00 and gave the stock an "outperform" rating in a report on Monday, May 5th. CL King upgraded nVent Electric from a "neutral" rating to a "buy" rating and set a $70.00 price objective on the stock in a research report on Monday, March 17th. KeyCorp boosted their target price on nVent Electric from $60.00 to $72.00 and gave the stock an "overweight" rating in a research report on Monday, May 5th. Finally, Barclays increased their price target on shares of nVent Electric from $65.00 to $70.00 and gave the company an "overweight" rating in a research report 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 company. Based on data from MarketBeat, nVent Electric presently has a consensus rating of "Buy" and a consensus target price of $70.00.

Insider Buying and Selling

In related news, EVP Lynnette R. Heath sold 4,041 shares of the firm's stock in a transaction 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 sale, the executive vice president now owns 32,665 shares of the company's stock, valued at $2,003,997.75. This trade represents a 11.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.80% of the stock is owned by insiders.

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.