Congress Asset Management Co. Trims Position in nVent Electric PLC $NVT

Congress Asset Management Co. lowered its stake in nVent Electric PLC (NYSE:NVT) by 36.3% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 626,243 shares of the company’s stock after selling 357,632 shares during the quarter. Congress Asset Management Co. owned about 0.39% of nVent Electric worth $100,431,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. State Street Corp increased its holdings in shares of nVent Electric by 4.9% in the second quarter. State Street Corp now owns 5,313,122 shares of the company’s stock worth $901,159,000 after purchasing an additional 250,248 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in nVent Electric by 3.5% during the first quarter. Bank of New York Mellon Corp now owns 2,018,579 shares of the company’s stock valued at $238,758,000 after buying an additional 68,818 shares during the last quarter. First Trust Advisors LP grew its holdings in nVent Electric by 32.8% during the 1st quarter. First Trust Advisors LP now owns 1,696,369 shares of the company’s stock valued at $200,647,000 after buying an additional 419,239 shares in the last quarter. Clean Energy Transition LLP grew its holdings in nVent Electric by 11.5% during the 4th quarter. Clean Energy Transition LLP now owns 1,506,140 shares of the company’s stock valued at $153,581,000 after buying an additional 155,783 shares in the last quarter. Finally, Balyasny Asset Management L.P. increased its stake in nVent Electric by 6.5% in the 4th quarter. Balyasny Asset Management L.P. now owns 1,411,699 shares of the company’s stock worth $143,951,000 after acquiring an additional 85,599 shares during the last quarter. Institutional investors own 90.05% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Weiss Ratings cut nVent Electric from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, August 31st. Wall Street Zen raised shares of nVent Electric from a “buy” rating to a “strong-buy” rating in a report on Sunday, June 21st. Robert W. Baird boosted their price target on shares of nVent Electric from $188.00 to $200.00 and gave the stock an “outperform” rating in a research report on Monday, August 3rd. Wolfe Research reaffirmed an “outperform” rating and set a $191.00 price target on shares of nVent Electric in a research note on Thursday, July 9th. Finally, Seaport Research Partners reaffirmed a “buy” rating and set a $215.00 price target on shares of nVent Electric in a research note on Monday, August 3rd. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, nVent Electric currently has an average rating of “Buy” and a consensus price target of $199.50.

Insiders Place Their Bets

In other news, insider Der Kolk Robert J. Van sold 5,858 shares of the stock in a transaction on Monday, August 10th. The shares were sold at an average price of $164.32, for a total value of $962,586.56. Following the sale, the insider owned 27,387 shares of the company’s stock, valued at approximately $4,500,231.84. This represents a 17.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Randolph A. Wacker sold 22,525 shares of the firm’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $164.62, for a total transaction of $3,708,065.50. Following the completion of the sale, the chief accounting officer owned 27,441 shares of the company’s stock, valued at $4,517,337.42. This trade represents a 45.08% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 74,644 shares of company stock valued at $12,276,886 over the last three months. 1.70% of the stock is owned by company insiders.

nVent Electric Trading Up 3.9%

NVT stock traded up $6.48 during midday trading on Tuesday, reaching $173.65. 2,572,655 shares of the company traded hands, compared to its average volume of 2,232,410. nVent Electric PLC has a 52-week low of $93.22 and a 52-week high of $184.64. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.33 and a current ratio of 1.80. The business has a 50 day moving average of $157.93 and a 200-day moving average of $154.03. The firm has a market capitalization of $28.11 billion, a price-to-earnings ratio of 47.45, a P/E/G ratio of 0.92 and a beta of 1.35.

nVent Electric (NYSE:NVT) last announced its earnings results on Friday, July 31st. The company reported $1.45 EPS for the quarter, topping analysts’ consensus estimates of $1.16 by $0.29. The firm had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.26 billion. nVent Electric had a return on equity of 18.85% and a net margin of 12.38%.The company’s quarterly revenue was up 52.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.86 EPS. nVent Electric has set its Q3 2026 guidance at 1.350-1.380 EPS and its FY 2026 guidance at 5.000-5.100 EPS. As a group, sell-side analysts expect that nVent Electric PLC will post 5.13 earnings per share for the current fiscal year.

nVent Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 6th. Shareholders of record on Friday, October 23rd will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend is Friday, October 23rd. nVent Electric’s payout ratio is presently 22.95%.

nVent Electric Profile

nVent Electric plc is a global provider of electrical connection and protection solutions. The company designs and manufactures products that help protect, connect and manage electrical, electronic and critical infrastructure systems in industrial, commercial, data center, energy, transportation and other applications.

Its portfolio includes electrical and electronic enclosures, cable management systems, fastening and support products, grounding and bonding solutions, busbar and power distribution equipment, surge protection products, and thermal management systems.