nVent Electric plc (NYSE:NVT) Shares Sold by Janus Henderson Group PLC

Janus Henderson Group PLC trimmed its position in nVent Electric plc (NYSE:NVT - Free Report) by 47.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,283,437 shares of the company's stock after selling 1,157,717 shares during the quarter. 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 institutional investors have also modified their holdings of the company. Capital Research Global Investors acquired a new stake in nVent Electric in the fourth quarter valued at $384,749,000. Norges Bank acquired a new stake in shares of nVent Electric during the 4th quarter worth about $197,434,000. Champlain Investment Partners LLC purchased a new stake in nVent Electric during the fourth quarter worth approximately $86,738,000. Balyasny Asset Management L.P. boosted its holdings in nVent Electric by 16,062.5% in the fourth quarter. Balyasny Asset Management L.P. now owns 875,197 shares of the company's stock valued at $59,653,000 after purchasing an additional 869,782 shares in the last quarter. Finally, Pictet Asset Management Holding SA increased its stake in nVent Electric by 3,186.9% in the fourth quarter. Pictet Asset Management Holding SA now owns 711,343 shares of the company's stock valued at $48,485,000 after purchasing an additional 689,701 shares during the last quarter. 90.05% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at nVent Electric

In related news, EVP Lynnette R. Heath sold 4,041 shares of the firm'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 of the company's stock, valued at $2,003,997.75. This trade represents a 11.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 1.80% of the company's stock.

nVent Electric Stock Performance

NVT stock traded up $0.69 during trading on Friday, hitting $67.54. The company had a trading volume of 1,626,964 shares, compared to its average volume of 1,938,456. The firm has a 50-day moving average price of $54.85 and a 200-day moving average price of $64.75. The company has a quick ratio of 1.28, a current ratio of 1.73 and a debt-to-equity ratio of 0.65. The firm has a market cap of $11.12 billion, a PE ratio of 34.46, a price-to-earnings-growth ratio of 1.48 and a beta of 1.24. nVent Electric plc has a 1-year low of $41.71 and a 1-year high of $86.57.

nVent Electric (NYSE:NVT - Get Free Report) last released its 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 for the quarter, compared to analysts' expectations of $790.74 million. nVent Electric had a return on equity of 14.52% and a net margin of 10.09%. The firm's quarterly revenue was up 10.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.78 EPS. On average, analysts expect that nVent Electric plc will post 3.04 earnings per share for the current year.

nVent Electric Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Shareholders 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 dividend yield of 1.18%. nVent Electric's payout ratio is currently 22.86%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Royal Bank of Canada boosted their price objective on shares of nVent Electric from $73.00 to $75.00 and gave the stock an "outperform" rating in a research report on Monday, May 5th. Citigroup reduced their price target on shares of nVent Electric from $85.00 to $59.00 and set a "buy" rating for the company in a research report on Monday, April 14th. The Goldman Sachs Group dropped their price objective on nVent Electric from $86.00 to $74.00 and set a "buy" rating on the stock in a report on Wednesday, April 2nd. Barclays boosted their target price on nVent Electric from $65.00 to $70.00 and gave the company an "overweight" rating in a report on Monday, May 5th. Finally, KeyCorp raised their price target on nVent Electric from $60.00 to $72.00 and gave the stock an "overweight" rating in a research note on Monday, May 5th. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $70.00.

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.