DekaBank Deutsche Girozentrale Lowers Holdings in nVent Electric plc (NYSE:NVT)

DekaBank Deutsche Girozentrale trimmed its holdings in nVent Electric plc (NYSE:NVT) by 29.4% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 216,247 shares of the company’s stock after selling 90,072 shares during the period. DekaBank Deutsche Girozentrale owned approximately 0.13% of nVent Electric worth $16,746,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Banque Cantonale Vaudoise purchased a new stake in shares of nVent Electric in the 1st quarter valued at $26,000. Livelsberger Financial Advisory purchased a new position in nVent Electric during the 4th quarter valued at about $28,000. ORG Partners LLC purchased a new position in nVent Electric during the 2nd quarter valued at about $31,000. Rise Advisors LLC purchased a new position in nVent Electric during the 1st quarter valued at about $32,000. Finally, First Foundation Advisors purchased a new position in nVent Electric during the 2nd quarter valued at about $34,000. 90.05% of the stock is currently owned by hedge funds and other institutional investors.

nVent Electric Stock Performance

Shares of NVT opened at $65.83 on Monday. The stock has a 50-day simple moving average of $68.37 and a 200-day simple moving average of $73.40. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.49 and a current ratio of 2.17. The stock has a market capitalization of $10.93 billion, a PE ratio of 19.19, a PEG ratio of 1.22 and a beta of 1.27. nVent Electric plc has a 1 year low of $45.60 and a 1 year high of $86.57.

nVent Electric (NYSE:NVT) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.83 by ($0.01). The company had revenue of $880.30 million during the quarter, compared to analysts’ expectations of $892.89 million. nVent Electric had a net margin of 16.59% and a return on equity of 17.21%. The business’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.77 EPS. On average, analysts predict that nVent Electric plc will post 3.26 earnings per share for the current fiscal year.

Insider Transactions at nVent Electric

In other nVent Electric news, EVP Lynnette R. Heath sold 8,242 shares of nVent Electric stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $60.26, for a total transaction of $496,662.92. Following the transaction, the executive vice president now owns 30,432 shares of the company’s stock, valued at $1,833,832.32. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, Director Herbert K. Parker bought 7,566 shares of the stock in a transaction on Thursday, August 15th. The shares were bought at an average cost of $65.71 per share, for a total transaction of $497,161.86. Following the purchase, the director now owns 34,524 shares of the company’s stock, valued at approximately $2,268,572.04. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Lynnette R. Heath sold 8,242 shares of nVent Electric stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $60.26, for a total value of $496,662.92. Following the completion of the transaction, the executive vice president now owns 30,432 shares in the company, valued at $1,833,832.32. The disclosure for this sale can be found here. Corporate insiders own 2.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on NVT shares. Royal Bank of Canada lowered their target price on nVent Electric from $88.00 to $82.00 and set an “outperform” rating for the company in a report on Wednesday, August 7th. KeyCorp upgraded nVent Electric from a “sector weight” rating to an “overweight” rating and set a $80.00 target price for the company in a report on Wednesday, September 4th. Finally, Barclays raised their target price on nVent Electric from $85.00 to $95.00 and gave the company an “overweight” rating in a report on Tuesday, June 4th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $86.50.

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.