nVent Electric plc (NYSE:NVT) Shares Bought by Balyasny Asset Management L.P.

Balyasny Asset Management L.P. raised its holdings in shares of nVent Electric plc (NYSE:NVT) by 16,062.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 875,197 shares of the company’s stock after acquiring an additional 869,782 shares during the period. Balyasny Asset Management L.P.’s holdings in nVent Electric were worth $59,653,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Nordea Investment Management AB lifted its position in nVent Electric by 16.9% during the fourth quarter. Nordea Investment Management AB now owns 93,172 shares of the company’s stock valued at $6,378,000 after purchasing an additional 13,483 shares during the period. Harbor Capital Advisors Inc. acquired a new stake in nVent Electric during the fourth quarter worth about $1,520,000. TT International Asset Management LTD raised its position in nVent Electric by 20.4% during the fourth quarter. TT International Asset Management LTD now owns 108,395 shares of the company’s stock valued at $7,388,000 after acquiring an additional 18,376 shares in the last quarter. LVM Capital Management Ltd. MI lifted its holdings in nVent Electric by 8.1% in the fourth quarter. LVM Capital Management Ltd. MI now owns 151,221 shares of the company’s stock valued at $10,307,000 after acquiring an additional 11,349 shares during the period. Finally, Pacer Advisors Inc. boosted its position in nVent Electric by 12.4% in the 4th quarter. Pacer Advisors Inc. now owns 55,790 shares of the company’s stock worth $3,803,000 after purchasing an additional 6,175 shares in the last quarter. 90.05% of the stock is owned by hedge funds and other institutional investors.

nVent Electric Trading Up 6.0 %

Shares of nVent Electric stock opened at $59.80 on Monday. nVent Electric plc has a twelve month low of $41.71 and a twelve month high of $86.57. The firm’s 50-day moving average price is $53.63 and its 200 day moving average price is $65.27. 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 firm has a market capitalization of $9.85 billion, a PE ratio of 30.51, a P/E/G ratio of 1.48 and a beta of 1.24.

nVent Electric (NYSE:NVT) last released its earnings results on Friday, May 2nd. The company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.01. nVent Electric had a return on equity of 14.52% and a net margin of 10.09%. The business had revenue of $809.30 million for the quarter, compared to the consensus estimate of $790.74 million. During the same quarter last year, the business posted $0.78 earnings per share. The business’s quarterly revenue was up 10.5% compared to the same quarter last year. On average, sell-side analysts predict that nVent Electric plc will post 3.04 EPS for the current fiscal year.

nVent Electric Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 25th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.34%. The ex-dividend date is Friday, April 25th. nVent Electric’s payout ratio is 22.86%.

Analysts Set New Price Targets

Several research firms recently issued reports on NVT. CL King upgraded shares of nVent Electric from a “neutral” rating to a “buy” rating and set a $70.00 target price for the company in a research note on Monday, March 17th. Seaport Res Ptn raised shares of nVent Electric from a “hold” rating to a “strong-buy” rating in a research note on Friday, March 21st. Barclays cut their price target on nVent Electric from $70.00 to $65.00 and set an “overweight” rating for the company in a research note on Thursday, April 10th. Citigroup lowered their price target on nVent Electric from $85.00 to $59.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. Finally, The Goldman Sachs Group cut their price objective on nVent Electric from $86.00 to $74.00 and set a “buy” rating for the company in a research report on Wednesday, April 2nd. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, nVent Electric currently has a consensus rating of “Buy” and an average price target of $69.00.

nVent Electric Company 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.