Paradice Investment Management LLC Decreases Stake in nVent Electric plc (NYSE:NVT)

Paradice Investment Management LLC cut its holdings in shares of nVent Electric plc (NYSE:NVT) by 8.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,256 shares of the company’s stock after selling 369 shares during the quarter. nVent Electric accounts for about 0.1% of Paradice Investment Management LLC’s portfolio, making the stock its 23rd largest holding. Paradice Investment Management LLC’s holdings in nVent Electric were worth $290,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the business. Franklin Resources Inc. grew its stake in nVent Electric by 22.1% in the 3rd quarter. Franklin Resources Inc. now owns 7,020,425 shares of the company’s stock valued at $527,374,000 after acquiring an additional 1,269,335 shares during the period. State Street Corp raised its holdings in nVent Electric by 0.9% in the 3rd quarter. State Street Corp now owns 5,031,623 shares of the company’s stock valued at $353,522,000 after buying an additional 42,465 shares during the period. Geode Capital Management LLC raised its holdings in nVent Electric by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 2,773,168 shares of the company’s stock valued at $194,894,000 after buying an additional 29,794 shares during the period. Janus Henderson Group PLC raised its holdings in nVent Electric by 23.6% in the 3rd quarter. Janus Henderson Group PLC now owns 2,441,154 shares of the company’s stock valued at $171,492,000 after buying an additional 466,042 shares during the period. Finally, Clean Energy Transition LLP increased its stake in nVent Electric by 56.5% during the third quarter. Clean Energy Transition LLP now owns 2,254,633 shares of the company’s stock worth $158,411,000 after purchasing an additional 813,909 shares during the period. 90.05% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at nVent Electric

In other news, Director Jerry W. Burris sold 6,558 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $80.00, for a total transaction of $524,640.00. Following the sale, the director now owns 45,040 shares in the company, valued at approximately $3,603,200. This represents a 12.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.50% of the company’s stock.

nVent Electric Stock Performance

Shares of NYSE NVT opened at $68.40 on Tuesday. The stock’s fifty day simple moving average is $69.67 and its 200 day simple moving average is $70.13. The stock has a market capitalization of $11.27 billion, a price-to-earnings ratio of 34.90, a PEG ratio of 3.01 and a beta of 1.26. The company has a quick ratio of 1.36, a current ratio of 1.73 and a debt-to-equity ratio of 0.65. nVent Electric plc has a 52-week low of $56.44 and a 52-week high of $86.57.

nVent Electric (NYSE:NVT) last announced its quarterly earnings results on Thursday, February 6th. The company reported $0.59 EPS for the quarter, meeting the consensus estimate of $0.59. nVent Electric had a return on equity of 14.52% and a net margin of 10.09%. As a group, sell-side analysts forecast that nVent Electric plc will post 3.03 earnings per share for the current fiscal year.

nVent Electric Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Friday, January 17th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.17%. This is a boost from nVent Electric’s previous quarterly dividend of $0.19. The ex-dividend date was Friday, January 17th. nVent Electric’s dividend payout ratio is 40.82%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Barclays upped their target price on shares of nVent Electric from $76.00 to $88.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. Citigroup decreased their price target on nVent Electric from $91.00 to $90.00 and set a “buy” rating for the company in a report on Monday, January 13th. Finally, Royal Bank of Canada raised their price target on nVent Electric from $85.00 to $86.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $86.33.

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.