Fractal Investments LLC Sells 6,971 Shares of nVent Electric plc (NYSE:NVT)

Fractal Investments LLC cut its holdings in shares of nVent Electric plc (NYSE:NVT) by 35.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,497 shares of the company’s stock after selling 6,971 shares during the period. nVent Electric comprises approximately 0.2% of Fractal Investments LLC’s portfolio, making the stock its 29th largest position. Fractal Investments LLC’s holdings in nVent Electric were worth $738,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Congress Asset Management Co. MA bought a new position in nVent Electric during the 3rd quarter worth $116,908,000. FMR LLC boosted its holdings in nVent Electric by 41.8% in the third quarter. FMR LLC now owns 6,556,055 shares of the company’s stock valued at $347,405,000 after acquiring an additional 1,932,142 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in nVent Electric by 68.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,952,040 shares of the company’s stock valued at $209,419,000 after purchasing an additional 1,604,534 shares during the period. Robeco Schweiz AG raised its holdings in nVent Electric by 3,911.6% during the 3rd quarter. Robeco Schweiz AG now owns 1,315,800 shares of the company’s stock worth $69,724,000 after purchasing an additional 1,283,000 shares during the last quarter. Finally, Fiera Capital Corp acquired a new position in shares of nVent Electric in the 3rd quarter worth approximately $36,106,000. Institutional investors own 90.05% of the company’s stock.

Wall Street Analyst Weigh In

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

nVent Electric Stock Up 1.7 %

Shares of NVT traded up $1.20 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. nVent Electric plc has a twelve month low of $40.19 and a twelve month high of $78.98. The company has a current ratio of 1.82, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56. The firm has a fifty day moving average of $71.04 and a 200-day moving average of $60.86. The stock has a market capitalization of $12.23 billion, a PE ratio of 21.88, a PEG ratio of 1.53 and a beta of 1.35.

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

nVent Electric Dividend Announcement

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

Insider Transactions at nVent Electric

In other news, Director Jerry W. Burris sold 4,008 shares of the firm’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $63.39, for a total transaction of $254,067.12. Following the completion of the sale, the director now directly owns 43,072 shares of the company’s stock, valued at approximately $2,730,334.08. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CEO Beth Wozniak sold 198,211 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $64.29, for a total transaction of $12,742,985.19. Following the sale, the chief executive officer now directly owns 342 shares in the company, valued at approximately $21,987.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jerry W. Burris sold 4,008 shares of the firm’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $63.39, for a total value of $254,067.12. Following the completion of the transaction, the director now directly owns 43,072 shares of the company’s stock, valued at $2,730,334.08. The disclosure for this sale can be found here. Insiders have sold 400,252 shares of company stock worth $25,713,777 in the last 90 days. 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.