Janus Henderson Group PLC Sells 1,157,717 Shares of nVent Electric plc (NYSE:NVT)

Janus Henderson Group PLC lessened its stake in nVent Electric plc (NYSE:NVT - Free Report) by 47.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,283,437 shares of the company's stock after selling 1,157,717 shares during the period. Janus Henderson Group PLC owned approximately 0.78% of nVent Electric worth $87,498,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Harbor Capital Advisors Inc. purchased a new position in nVent Electric in the 4th quarter worth approximately $1,520,000. TT International Asset Management LTD boosted its stake in shares of nVent Electric by 20.4% in the 4th quarter. TT International Asset Management LTD now owns 108,395 shares of the company's stock valued at $7,388,000 after purchasing an additional 18,376 shares in the last quarter. Pacer Advisors Inc. boosted its position in nVent Electric by 12.4% during the 4th quarter. Pacer Advisors Inc. now owns 55,790 shares of the company's stock valued at $3,803,000 after buying an additional 6,175 shares during the period. LPL Financial LLC boosted its position in nVent Electric by 12.6% during the 4th quarter. LPL Financial LLC now owns 140,043 shares of the company's stock valued at $9,545,000 after buying an additional 15,685 shares during the period. Finally, Oak Thistle LLC purchased a new stake in nVent Electric during the 4th quarter valued at $1,009,000. Hedge funds and other institutional investors own 90.05% of the company's stock.

nVent Electric Stock Up 1.0%

Shares of nVent Electric stock traded up $0.69 during trading on Friday, hitting $67.54. The company's stock had a trading volume of 1,626,964 shares, compared to its average volume of 1,940,881. 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 company has a fifty day simple moving average of $55.10 and a two-hundred day simple moving average of $64.57. The company has a market capitalization of $11.12 billion, a PE ratio of 34.46, a P/E/G 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.

nVent Electric (NYSE:NVT - Get Free Report) last issued its quarterly earnings results on Friday, May 2nd. The company reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate 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%. nVent Electric's quarterly revenue was up 10.5% compared to the same quarter last year. During the same period last year, the business earned $0.78 EPS. Equities research analysts predict that nVent Electric plc will post 3.04 earnings per share for the current year.

nVent Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Friday, July 18th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.18%. nVent Electric's dividend payout ratio (DPR) is 22.86%.

Analyst Ratings Changes

NVT has been the subject of several research reports. Seaport Res Ptn upgraded shares of nVent Electric from a "hold" rating to a "strong-buy" rating in a report on Friday, March 21st. 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 report on Wednesday, April 2nd. CL King upgraded shares of nVent Electric from a "neutral" rating to a "buy" rating and set a $70.00 price objective for the company in a report on Monday, March 17th. Citigroup decreased their price objective on shares of nVent Electric from $85.00 to $59.00 and set a "buy" rating for the company in a report on Monday, April 14th. Finally, Barclays upped their price objective on shares of nVent Electric from $65.00 to $70.00 and gave the stock an "overweight" rating in a report on Monday, May 5th. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, nVent Electric has an average rating of "Buy" and a consensus target price of $70.00.

Insider Activity at nVent Electric

In other news, EVP Lynnette R. Heath sold 4,041 shares of the firm's stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $61.35, for a total transaction of $247,915.35. Following 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 position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.80% of the stock is currently 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.