Magnetar Financial LLC Sells 36,515 Shares of nVent Electric plc (NYSE:NVT)

Magnetar Financial LLC trimmed its holdings in shares of nVent Electric plc (NYSE:NVT) by 45.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 44,284 shares of the company’s stock after selling 36,515 shares during the quarter. Magnetar Financial LLC’s holdings in nVent Electric were worth $3,018,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Crews Bank & Trust bought a new position in nVent Electric during the fourth quarter worth about $26,000. Larson Financial Group LLC increased its position in nVent Electric by 91.9% during the third quarter. Larson Financial Group LLC now owns 378 shares of the company’s stock worth $27,000 after acquiring an additional 181 shares during the period. Brooklyn Investment Group bought a new position in nVent Electric during the third quarter worth about $44,000. Tsfg LLC bought a new position in nVent Electric during the fourth quarter worth about $51,000. Finally, Raleigh Capital Management Inc. increased its position in nVent Electric by 547.4% during the fourth quarter. Raleigh Capital Management Inc. now owns 751 shares of the company’s stock worth $51,000 after acquiring an additional 635 shares during the period. 90.05% of the stock is owned by institutional investors.

nVent Electric Trading Down 0.0 %

NVT opened at $56.85 on Friday. The company’s 50 day moving average is $63.87 and its 200-day moving average is $69.05. nVent Electric plc has a 1-year low of $51.99 and a 1-year high of $86.57. The company has a current ratio of 1.73, a quick ratio of 1.28 and a debt-to-equity ratio of 0.65. The company has a market cap of $9.38 billion, a P/E ratio of 29.01, a PEG ratio of 1.48 and a beta of 1.31.

nVent Electric (NYSE:NVT) last posted its quarterly earnings results on Thursday, February 6th. The company reported $0.59 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.59. nVent Electric had a net margin of 10.09% and a return on equity of 14.52%. Equities research analysts predict that nVent Electric plc will post 3.04 earnings per share for the current fiscal year.

nVent Electric Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 25th will be paid a $0.20 dividend. The ex-dividend date is Friday, April 25th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.41%. nVent Electric’s payout ratio is currently 40.82%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Citigroup lowered their price target on shares of nVent Electric from $91.00 to $90.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. CL King upgraded shares of nVent Electric from a “neutral” rating to a “buy” rating and set a $70.00 price objective on the stock in a research note on Monday. Royal Bank of Canada increased their price objective on shares of nVent Electric from $85.00 to $86.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. Finally, Barclays reduced their price objective on shares of nVent Electric from $88.00 to $83.00 and set an “overweight” rating on the stock in a research note on Monday, March 3rd. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $83.33.

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.