nVent Electric plc (NYSE:NVT) Shares Sold by Fractal Investments LLC

Fractal Investments LLC lessened its holdings in shares of nVent Electric plc (NYSE:NVT) by 35.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 12,497 shares of the company’s stock after selling 6,971 shares during the quarter. nVent Electric accounts for about 0.2% of Fractal Investments LLC’s investment portfolio, making the stock its 29th largest holding. Fractal Investments LLC’s holdings in nVent Electric were worth $738,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. Yousif Capital Management LLC increased its holdings in nVent Electric by 1.2% in the 4th quarter. Yousif Capital Management LLC now owns 80,034 shares of the company’s stock valued at $4,729,000 after purchasing an additional 956 shares in the last quarter. South Dakota Investment Council acquired a new stake in nVent Electric in the fourth quarter valued at approximately $2,656,000. GAMMA Investing LLC purchased a new stake in shares of nVent Electric during the fourth quarter valued at approximately $56,000. Linden Thomas Advisory Services LLC lifted its position in shares of nVent Electric by 1.7% during the fourth quarter. Linden Thomas Advisory Services LLC now owns 19,221 shares of the company’s stock worth $1,136,000 after purchasing an additional 319 shares in the last quarter. Finally, Handelsbanken Fonder AB boosted its stake in shares of nVent Electric by 870.3% in the fourth quarter. Handelsbanken Fonder AB now owns 477,390 shares of the company’s stock valued at $28,209,000 after purchasing an additional 428,190 shares during the period. Hedge funds and other institutional investors own 90.05% of the company’s stock.

Insider Transactions at nVent Electric

In other nVent Electric news, insider Michael B. Faulconer sold 10,961 shares of the stock in a transaction 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 completion of the transaction, the insider now directly owns 33,109 shares of the company’s stock, valued at approximately $2,229,228.97. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other nVent Electric news, insider Michael B. Faulconer sold 10,961 shares of the company’s stock in a transaction on Thursday, February 29th. The stock was 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 $2,229,228.97. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Beth Wozniak sold 198,211 shares of the firm’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $64.29, for a total value of $12,742,985.19. Following the sale, the chief executive officer now directly owns 342 shares of the company’s stock, valued at $21,987.18. The disclosure for this sale can be found here. Over the last quarter, insiders sold 400,252 shares of company stock valued at $25,713,777. 2.50% of the stock is currently owned by corporate insiders.

nVent Electric Stock Performance

Shares of nVent Electric stock traded up $1.20 during trading hours on Wednesday, reaching $73.72. The company’s stock had a trading volume of 1,840,618 shares, compared to its average volume of 1,261,619. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.22 and a current ratio of 1.82. nVent Electric plc has a one year low of $40.19 and a one year high of $78.98. The company’s 50 day simple moving average is $71.04 and its 200 day simple moving average is $60.86. The stock has a market cap of $12.23 billion, a P/E ratio of 21.88, a price-to-earnings-growth ratio of 1.53 and a beta of 1.35.

nVent Electric (NYSE:NVT) last posted its earnings results on Tuesday, February 6th. The company reported $0.78 EPS for the quarter, beating the consensus estimate of $0.75 by $0.03. The company had revenue of $861.20 million during the quarter, compared to analyst estimates of $866.90 million. nVent Electric had a return on equity of 17.53% and a net margin of 17.38%. The business’s revenue was up 16.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.66 earnings per share. As a group, analysts expect that nVent Electric plc will post 3.24 EPS for the current fiscal year.

nVent Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Friday, April 26th will be paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 1.03%. The ex-dividend date of this dividend is Thursday, April 25th. nVent Electric’s payout ratio is currently 22.55%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on NVT shares. Deutsche Bank Aktiengesellschaft began coverage on shares of nVent Electric in a research note on Monday, March 11th. They set a “buy” rating and a $83.00 price target on the stock. Citigroup boosted their price target on nVent Electric from $71.00 to $91.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. Royal Bank of Canada raised their price objective on nVent Electric from $65.00 to $72.00 and gave the company an “outperform” rating in a research note on Wednesday, February 7th. The Goldman Sachs Group upped their target price on nVent Electric from $69.00 to $77.00 and gave the company a “buy” rating in a research report on Friday, March 15th. Finally, Barclays increased their target price on nVent Electric from $74.00 to $85.00 and gave the company an “overweight” rating in a research note on Tuesday, April 2nd. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, nVent Electric has a consensus rating of “Moderate Buy” and a consensus target price of $81.60.

About nVent Electric

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.