Janus Henderson Group PLC Has $151.50 Million Stock Position in nVent Electric plc (NYSE:NVT)

Janus Henderson Group PLC lowered its position in nVent Electric plc (NYSE:NVT) by 5.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,010,512 shares of the company’s stock after selling 124,271 shares during the quarter. Janus Henderson Group PLC owned approximately 1.21% of nVent Electric worth $151,504,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of NVT. Kodai Capital Management LP raised its holdings in shares of nVent Electric by 17.4% during the 1st quarter. Kodai Capital Management LP now owns 160,478 shares of the company’s stock valued at $12,100,000 after purchasing an additional 23,826 shares in the last quarter. Bayesian Capital Management LP bought a new position in nVent Electric during the first quarter valued at about $1,274,000. Waverly Advisors LLC acquired a new stake in shares of nVent Electric in the first quarter worth about $6,800,000. Silvercrest Asset Management Group LLC boosted its stake in shares of nVent Electric by 18.3% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 7,539 shares of the company’s stock worth $568,000 after acquiring an additional 1,167 shares in the last quarter. Finally, Bornite Capital Management LP acquired a new position in shares of nVent Electric during the 1st quarter valued at about $18,850,000. 90.05% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on NVT shares. Citigroup boosted their price objective on shares of nVent Electric from $91.00 to $92.00 and gave the stock a “buy” rating in a research note on Monday, May 6th. The Goldman Sachs Group boosted their target price on shares of nVent Electric from $77.00 to $87.00 and gave the stock a “buy” rating in a research report on Monday, May 6th. Barclays upped their price target on shares of nVent Electric from $85.00 to $95.00 and gave the company an “overweight” rating in a report on Tuesday, June 4th. Finally, Royal Bank of Canada dropped their price objective on nVent Electric from $89.00 to $88.00 and set an “outperform” rating on the stock in a research note on Monday, May 6th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, nVent Electric has a consensus rating of “Moderate Buy” and an average price target of $89.00.

nVent Electric Stock Performance

NYSE:NVT traded up $3.73 during trading hours on Wednesday, hitting $73.28. 705,269 shares of the company traded hands, compared to its average volume of 1,414,140. The company has a current ratio of 1.99, a quick ratio of 1.35 and a debt-to-equity ratio of 0.54. nVent Electric plc has a twelve month low of $45.60 and a twelve month high of $86.57. The firm has a 50-day moving average of $77.84 and a 200 day moving average of $72.66. The stock has a market capitalization of $12.17 billion, a price-to-earnings ratio of 21.58, a P/E/G ratio of 1.54 and a beta of 1.31.

nVent Electric (NYSE:NVT) last announced its quarterly earnings data on Friday, May 3rd. The company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.73 by $0.04. nVent Electric had a net margin of 17.02% and a return on equity of 17.47%. The business had revenue of $874.60 million during the quarter, compared to analyst estimates of $864.14 million. During the same quarter in the prior year, the business earned $0.67 earnings per share. The firm’s revenue for the quarter was up 18.0% on a year-over-year basis. On average, analysts forecast that nVent Electric plc will post 3.27 EPS for the current year.

nVent Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 2nd. Stockholders of record on Friday, July 19th will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date of this dividend is Friday, July 19th. nVent Electric’s dividend payout ratio is presently 22.16%.

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.