256,096 Shares in nVent Electric plc (NYSE:NVT) Acquired by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. acquired a new position in shares of nVent Electric plc (NYSE:NVT) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 256,096 shares of the company’s stock, valued at approximately $17,993,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Signaturefd LLC raised its position in shares of nVent Electric by 22.0% in the 2nd quarter. Signaturefd LLC now owns 860 shares of the company’s stock valued at $66,000 after acquiring an additional 155 shares during the period. EverSource Wealth Advisors LLC lifted its stake in nVent Electric by 15.7% in the first quarter. EverSource Wealth Advisors LLC now owns 2,008 shares of the company’s stock valued at $145,000 after acquiring an additional 272 shares during the last quarter. Anchor Investment Management LLC grew its holdings in nVent Electric by 94.0% during the second quarter. Anchor Investment Management LLC now owns 578 shares of the company’s stock worth $44,000 after purchasing an additional 280 shares during the period. Sciencast Management LP increased its holdings in shares of nVent Electric by 7.1% during the 1st quarter. Sciencast Management LP now owns 4,397 shares of the company’s stock worth $332,000 after acquiring an additional 293 shares during the last quarter. Finally, Banque Cantonale Vaudoise lifted its stake in shares of nVent Electric by 87.2% during the 2nd quarter. Banque Cantonale Vaudoise now owns 642 shares of the company’s stock worth $49,000 after buying an additional 299 shares during the last quarter. 90.05% of the stock is owned by institutional investors and hedge funds.

nVent Electric Stock Performance

Shares of NVT opened at $73.34 on Friday. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.17 and a quick ratio of 1.49. The firm has a market cap of $12.18 billion, a PE ratio of 21.38, a PEG ratio of 1.50 and a beta of 1.27. nVent Electric plc has a 1 year low of $45.60 and a 1 year high of $86.57. The stock’s fifty day moving average price is $68.73 and its two-hundred day moving average price is $73.16.

nVent Electric (NYSE:NVT) last posted its earnings results on Tuesday, August 6th. The company reported $0.82 earnings per share for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.01). The firm had revenue of $880.30 million for the quarter, compared to the consensus estimate of $892.89 million. nVent Electric had a return on equity of 17.21% and a net margin of 16.59%. The business’s revenue was up 9.6% on a year-over-year basis. During the same period last year, the company posted $0.77 EPS. On average, equities research analysts forecast that nVent Electric plc will post 3.26 EPS for the current year.

nVent Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 18th will be paid a dividend of $0.19 per share. The ex-dividend date of this dividend is Friday, October 18th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.04%. nVent Electric’s dividend payout ratio (DPR) is currently 22.16%.

Insiders Place Their Bets

In other news, EVP Lynnette R. Heath sold 8,242 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $60.26, for a total value of $496,662.92. Following the completion of the sale, the executive vice president now directly owns 30,432 shares of the company’s stock, valued at approximately $1,833,832.32. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director Herbert K. Parker acquired 7,566 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were bought at an average price of $65.71 per share, for a total transaction of $497,161.86. Following the completion of the transaction, the director now directly owns 34,524 shares in the company, valued at approximately $2,268,572.04. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Lynnette R. Heath sold 8,242 shares of the stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $60.26, for a total transaction of $496,662.92. Following the completion of the transaction, the executive vice president now owns 30,432 shares in the company, valued at $1,833,832.32. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.50% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on NVT. KeyCorp raised their price target on shares of nVent Electric from $80.00 to $84.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Barclays dropped their price objective on shares of nVent Electric from $87.00 to $86.00 and set an “overweight” rating for the company in a research note on Wednesday, October 2nd. Finally, Royal Bank of Canada reduced their price target on nVent Electric from $88.00 to $82.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, nVent Electric presently has an average rating of “Buy” and a consensus price target of $85.67.

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.