Ashton Thomas Private Wealth LLC Makes New Investment in nVent Electric plc (NYSE:NVT)

Ashton Thomas Private Wealth LLC bought a new position in shares of nVent Electric plc (NYSE:NVT) in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 450 shares of the company’s stock, valued at approximately $34,000.

A number of other large investors have also recently added to or reduced their stakes in NVT. Banque Cantonale Vaudoise bought a new position in nVent Electric during the 1st quarter worth about $26,000. Livelsberger Financial Advisory bought a new position in nVent Electric during the 4th quarter worth about $28,000. ORG Partners LLC bought a new position in nVent Electric during the 2nd quarter worth about $31,000. Rise Advisors LLC bought a new position in nVent Electric during the 1st quarter worth about $32,000. Finally, First Foundation Advisors bought a new position in shares of nVent Electric in the 2nd quarter valued at about $34,000. Institutional investors own 90.05% of the company’s stock.

Analyst Ratings Changes

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

Insider Buying and Selling

In other nVent Electric news, Director Herbert K. Parker bought 7,566 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were acquired at an average cost of $65.71 per share, with a total value of $497,161.86. Following the acquisition, the director now owns 34,524 shares of the company’s stock, valued at $2,268,572.04. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other nVent Electric news, Director Herbert K. Parker bought 7,566 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were acquired at an average cost of $65.71 per share, with a total value of $497,161.86. Following the acquisition, the director now owns 34,524 shares of the company’s stock, valued at $2,268,572.04. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael B. Faulconer sold 20,004 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $63.34, for a total value of $1,267,053.36. Following the transaction, the insider now directly owns 19,766 shares in the company, valued at $1,251,978.44. The disclosure for this sale can be found here. 2.50% of the stock is owned by insiders.

nVent Electric Stock Down 0.1 %

NYSE:NVT opened at $65.75 on Tuesday. The firm has a market capitalization of $10.92 billion, a price-to-earnings ratio of 19.17, a price-to-earnings-growth ratio of 1.22 and a beta of 1.27. nVent Electric plc has a twelve month low of $45.60 and a twelve month high of $86.57. The stock’s 50 day moving average price is $68.15 and its two-hundred day moving average price is $73.39. The company has a quick ratio of 1.49, a current ratio of 2.17 and a debt-to-equity ratio of 0.53.

nVent Electric (NYSE:NVT) last posted its earnings results on Tuesday, August 6th. The company reported $0.82 earnings per share for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.01). The business had revenue of $880.30 million for the quarter, compared to analyst estimates of $892.89 million. nVent Electric had a return on equity of 17.21% and a net margin of 16.59%. The firm’s revenue was up 9.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.77 earnings per share. Equities research analysts expect that nVent Electric plc will post 3.26 earnings per share for the current fiscal year.

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.