nVent Electric plc (NYSE:NVT) Shares Sold by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA reduced its stake in shares of nVent Electric plc (NYSE:NVT - Free Report) by 3.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,819,315 shares of the company's stock after selling 132,725 shares during the period. Massachusetts Financial Services Co. MA owned 2.30% of nVent Electric worth $225,683,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in NVT. Congress Asset Management Co. MA purchased a new position in shares of nVent Electric during the 3rd quarter valued at about $116,908,000. FMR LLC lifted its holdings in nVent Electric by 41.8% in the 3rd quarter. FMR LLC now owns 6,556,055 shares of the company's stock worth $347,405,000 after purchasing an additional 1,932,142 shares in the last quarter. Robeco Schweiz AG lifted its holdings in nVent Electric by 3,911.6% in the 3rd quarter. Robeco Schweiz AG now owns 1,315,800 shares of the company's stock worth $69,724,000 after purchasing an additional 1,283,000 shares in the last quarter. Fiera Capital Corp purchased a new position in nVent Electric in the 3rd quarter worth approximately $36,106,000. Finally, PointState Capital LP purchased a new position in nVent Electric in the 3rd quarter worth approximately $26,740,000. 90.05% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Michael B. Faulconer sold 10,961 shares of the business's stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $67.33, for a total transaction of $738,004.13. Following the transaction, the insider now owns 33,109 shares of the company's stock, valued at approximately $2,229,228.97. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director Jerry W. Burris sold 4,008 shares of the business's stock in a transaction on Friday, February 16th. The stock was sold at an average price of $63.39, for a total transaction of $254,067.12. Following the completion of the transaction, the director now owns 43,072 shares in the company, valued at approximately $2,730,334.08. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Michael B. Faulconer sold 10,961 shares of the business's stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $67.33, for a total value of $738,004.13. Following the transaction, the insider now owns 33,109 shares of the company's stock, valued at approximately $2,229,228.97. The disclosure for this sale can be found here. Corporate insiders own 2.50% of the company's stock.

nVent Electric Price Performance

NYSE:NVT traded up $1.07 during trading hours on Tuesday, reaching $81.67. The stock had a trading volume of 1,285,074 shares, compared to its average volume of 1,357,112. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.35 and a current ratio of 1.99. nVent Electric plc has a 52 week low of $40.22 and a 52 week high of $83.78. The company has a 50 day moving average price of $73.90 and a two-hundred day moving average price of $63.34. The stock has a market capitalization of $13.56 billion, a PE ratio of 23.81, a PEG ratio of 1.83 and a beta of 1.35.

nVent Electric (NYSE:NVT - Get Free Report) last released its earnings results on Friday, May 3rd. The company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.04. The firm had revenue of $874.60 million for the quarter, compared to the consensus estimate of $864.14 million. nVent Electric had a return on equity of 17.47% and a net margin of 17.02%. The company's revenue for the quarter was up 18.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.67 EPS. As a group, sell-side analysts anticipate that nVent Electric plc will post 3.26 earnings per share for the current fiscal year.

nVent Electric Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 10th. Stockholders of record on Friday, April 26th were given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 0.93%. The ex-dividend date was Thursday, April 25th. nVent Electric's dividend payout ratio is currently 22.16%.

Analyst Ratings Changes

A number of research analysts recently commented on NVT shares. Royal Bank of Canada lowered their price target on nVent Electric from $89.00 to $88.00 and set an "outperform" rating on the stock in a report on Monday, May 6th. Deutsche Bank Aktiengesellschaft started coverage on nVent Electric in a report on Monday, March 11th. They issued a "buy" rating and a $83.00 price target on the stock. Barclays boosted their price target on nVent Electric from $74.00 to $85.00 and gave the stock an "overweight" rating in a report on Tuesday, April 2nd. The Goldman Sachs Group lifted their price objective on nVent Electric from $77.00 to $87.00 and gave the stock a "buy" rating in a research note on Monday, May 6th. Finally, Citigroup lifted their price objective on nVent Electric from $91.00 to $92.00 and gave the stock a "buy" rating in a research note on Monday, May 6th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $87.00.

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.