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

Janus Henderson Group PLC increased its position in shares of nVent Electric plc (NYSE:NVT - Free Report) by 23.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,441,154 shares of the company's stock after purchasing an additional 466,042 shares during the quarter. Janus Henderson Group PLC owned 1.48% of nVent Electric worth $171,492,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Massachusetts Financial Services Co. MA grew its position in shares of nVent Electric by 16.0% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 4,884,487 shares of the company's stock worth $374,201,000 after buying an additional 673,990 shares during the period. Clean Energy Transition LLP increased its position in shares of nVent Electric by 56.5% during the 3rd quarter. Clean Energy Transition LLP now owns 2,254,633 shares of the company's stock valued at $158,411,000 after purchasing an additional 813,909 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of nVent Electric by 1.7% during the 3rd quarter. Principal Financial Group Inc. now owns 1,763,254 shares of the company's stock valued at $123,891,000 after purchasing an additional 28,876 shares during the last quarter. Swedbank AB purchased a new stake in shares of nVent Electric during the 3rd quarter valued at $110,663,000. Finally, Millennium Management LLC increased its position in shares of nVent Electric by 159.9% during the 2nd quarter. Millennium Management LLC now owns 1,346,576 shares of the company's stock valued at $103,161,000 after purchasing an additional 828,425 shares during the last quarter. Institutional investors own 90.05% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. KeyCorp lifted their price objective on nVent Electric from $80.00 to $84.00 and gave the stock an "overweight" rating in a report on Monday, October 14th. Barclays reduced their target price on nVent Electric from $87.00 to $86.00 and set an "overweight" rating for the company in a report on Wednesday, October 2nd. Finally, Royal Bank of Canada reduced their target price on nVent Electric from $82.00 to $80.00 and set an "outperform" rating for the company in a report on Monday, November 4th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $85.33.

nVent Electric Stock Performance

Shares of nVent Electric stock traded up $1.01 during trading on Wednesday, hitting $79.19. 1,517,302 shares of the company's stock traded hands, compared to its average volume of 1,578,186. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.83 and a quick ratio of 1.36. nVent Electric plc has a 1 year low of $53.81 and a 1 year high of $86.57. The stock has a market capitalization of $13.05 billion, a P/E ratio of 23.22, a PEG ratio of 3.99 and a beta of 1.25. The business has a 50-day simple moving average of $74.08 and a 200-day simple moving average of $73.08.

nVent Electric (NYSE:NVT - Get Free Report) last released its quarterly earnings data on Tuesday, November 5th. The company reported $0.63 EPS for the quarter, missing the consensus estimate of $0.81 by ($0.18). nVent Electric had a net margin of 16.95% and a return on equity of 15.66%. The business had revenue of $782.00 million for the quarter, compared to analysts' expectations of $937.37 million. During the same period last year, the business earned $0.84 earnings per share. The company's quarterly revenue was up 9.4% on a year-over-year basis. As a group, analysts forecast that nVent Electric plc will post 2.5 EPS for the current year.

nVent Electric Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 18th were given a $0.19 dividend. The ex-dividend date of this dividend was Friday, October 18th. This represents a $0.76 annualized dividend and a yield of 0.96%. nVent Electric's payout ratio is 22.29%.

Insiders Place Their Bets

In other news, EVP Jon D. Lammers sold 67,297 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $76.07, for a total value of $5,119,282.79. Following the transaction, the executive vice president now directly owns 58,121 shares of the company's stock, valued at approximately $4,421,264.47. This represents a 53.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Randolph A. Wacker sold 8,022 shares of the company's stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $75.87, for a total value of $608,629.14. Following the completion of the sale, the chief accounting officer now owns 25,993 shares in the company, valued at $1,972,088.91. The trade was a 23.58 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 96,382 shares of company stock valued at $7,365,956. Insiders own 2.50% of the company's stock.

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.