Assenagon Asset Management S.A. Sells 59,660 Shares of nVent Electric plc (NYSE:NVT)

Assenagon Asset Management S.A. decreased its holdings in nVent Electric plc (NYSE:NVT - Free Report) by 23.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 196,436 shares of the company's stock after selling 59,660 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.12% of nVent Electric worth $13,389,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Franklin Resources Inc. grew its stake in shares of nVent Electric by 22.1% during the third quarter. Franklin Resources Inc. now owns 7,020,425 shares of the company's stock valued at $527,374,000 after purchasing an additional 1,269,335 shares during the last quarter. State Street Corp increased its stake in shares of nVent Electric by 0.9% in the 3rd quarter. State Street Corp now owns 5,031,623 shares of the company's stock valued at $353,522,000 after buying an additional 42,465 shares during the period. Geode Capital Management LLC raised its position in shares of nVent Electric by 1.1% during the third quarter. Geode Capital Management LLC now owns 2,773,168 shares of the company's stock worth $194,894,000 after acquiring an additional 29,794 shares during the last quarter. Janus Henderson Group PLC lifted its stake in shares of nVent Electric by 23.6% during the third quarter. Janus Henderson Group PLC now owns 2,441,154 shares of the company's stock valued at $171,492,000 after acquiring an additional 466,042 shares during the period. Finally, Clean Energy Transition LLP increased its position in nVent Electric by 56.5% in the third quarter. Clean Energy Transition LLP now owns 2,254,633 shares of the company's stock worth $158,411,000 after purchasing an additional 813,909 shares during the period. Institutional investors and hedge funds own 90.05% of the company's stock.

Insiders Place Their Bets

In related news, Director Jerry W. Burris sold 6,558 shares of the stock in a transaction on Monday, November 25th. The shares were sold at an average price of $80.00, for a total transaction of $524,640.00. Following the completion of the transaction, the director now owns 45,040 shares in the company, valued at approximately $3,603,200. This represents a 12.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Jon D. Lammers sold 67,297 shares of nVent Electric stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $76.07, for a total transaction of $5,119,282.79. Following the completion of the sale, the executive vice president now owns 58,121 shares in the company, valued at $4,421,264.47. The trade was a 53.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 96,382 shares of company stock valued at $7,365,956 in the last quarter. 2.50% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on NVT. KeyCorp raised their target price on shares of nVent Electric from $80.00 to $84.00 and gave the company an "overweight" rating in a research note on Monday, October 14th. Barclays upped their target price on shares of nVent Electric from $76.00 to $88.00 and gave the company an "overweight" rating in a research report on Thursday, December 5th. Citigroup decreased their price objective on nVent Electric from $91.00 to $90.00 and set a "buy" rating for the company in a research note on Monday, January 13th. Finally, Royal Bank of Canada increased their target price on nVent Electric from $80.00 to $85.00 and gave the company an "outperform" rating in a research note on Friday, January 3rd. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $86.17.

nVent Electric Trading Up 1.3 %

NVT stock traded up $0.95 during midday trading on Friday, hitting $72.36. 1,307,251 shares of the company's stock were exchanged, compared to its average volume of 1,111,387. nVent Electric plc has a one year low of $55.62 and a one year high of $86.57. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.36 and a current ratio of 1.83. The company has a market cap of $11.93 billion, a PE ratio of 21.22, a price-to-earnings-growth ratio of 2.95 and a beta of 1.27. The stock's fifty day moving average price is $73.20 and its 200-day moving average price is $71.22.

nVent Electric (NYSE:NVT - Get Free Report) last announced its earnings results on Tuesday, November 5th. The company reported $0.63 earnings per share for the quarter, missing analysts' consensus estimates of $0.81 by ($0.18). nVent Electric had a return on equity of 15.66% and a net margin of 16.95%. The company had revenue of $782.00 million during the quarter, compared to analyst estimates of $937.37 million. During the same period in the previous year, the company posted $0.84 earnings per share. nVent Electric's revenue for the quarter was up 9.4% on a year-over-year basis. Research analysts predict that nVent Electric plc will post 2.5 earnings per share for the current fiscal year.

nVent Electric Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, January 17th will be paid a $0.20 dividend. This is a boost from nVent Electric's previous quarterly dividend of $0.19. The ex-dividend date is Friday, January 17th. This represents a $0.80 annualized dividend and a yield of 1.11%. nVent Electric's payout ratio is presently 22.29%.

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.