nVent Electric plc (NYSE:NVT) Shares Sold by AXQ Capital LP

AXQ Capital LP lessened its stake in nVent Electric plc (NYSE:NVT - Free Report) by 55.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,071 shares of the company's stock after selling 9,879 shares during the period. AXQ Capital LP's holdings in nVent Electric were worth $550,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Sei Investments Co. increased its holdings in shares of nVent Electric by 53.7% in the 4th quarter. Sei Investments Co. now owns 170,899 shares of the company's stock valued at $11,649,000 after acquiring an additional 59,684 shares during the period. American Century Companies Inc. grew its position in nVent Electric by 20.7% during the 4th quarter. American Century Companies Inc. now owns 74,262 shares of the company's stock worth $5,062,000 after purchasing an additional 12,759 shares during the last quarter. Virtu Financial LLC acquired a new stake in shares of nVent Electric during the fourth quarter worth $379,000. Sciencast Management LP purchased a new position in nVent Electric in the 4th quarter valued at $2,743,000. Finally, Trillium Asset Management LLC increased its stake in nVent Electric by 11.9% in the 4th quarter. Trillium Asset Management LLC now owns 244,682 shares of the company's stock valued at $16,678,000 after buying an additional 26,093 shares during the period. Hedge funds and other institutional investors own 90.05% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on NVT. CL King upgraded shares of nVent Electric from a "neutral" rating to a "buy" rating and set a $70.00 target price for the company in a research note on Monday, March 17th. Royal Bank of Canada increased their price target on shares of nVent Electric from $85.00 to $86.00 and gave the stock an "outperform" rating in a report on Friday, February 7th. Citigroup lowered their price objective on nVent Electric from $91.00 to $90.00 and set a "buy" rating on the stock in a report on Monday, January 13th. Barclays dropped their target price on nVent Electric from $83.00 to $75.00 and set an "overweight" rating on the stock in a research report on Wednesday. Finally, Seaport Res Ptn raised nVent Electric from a "hold" rating to a "strong-buy" rating in a report on Friday, March 21st. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Buy" and an average target price of $82.00.

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nVent Electric Price Performance

Shares of NYSE:NVT traded down $1.20 during trading on Thursday, hitting $54.61. 2,380,487 shares of the stock were exchanged, compared to its average volume of 1,757,644. The company has a market cap of $9.01 billion, a PE ratio of 27.86, a P/E/G ratio of 1.48 and a beta of 1.31. 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 company has a fifty day moving average price of $62.92 and a two-hundred day moving average price of $68.92. nVent Electric plc has a 12-month low of $51.99 and a 12-month high of $86.57.

nVent Electric (NYSE:NVT - Get Free Report) last issued its quarterly earnings data on Thursday, February 6th. The company reported $0.59 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.59. nVent Electric had a return on equity of 14.52% and a net margin of 10.09%. On average, analysts forecast that nVent Electric plc will post 3.04 EPS for the current year.

nVent Electric Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 25th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date is Friday, April 25th. nVent Electric's payout ratio is currently 40.82%.

nVent Electric Company 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.