Brown Brothers Harriman & Co. Raises Holdings in nVent Electric plc (NYSE:NVT)

Brown Brothers Harriman & Co. increased its stake in shares of nVent Electric plc (NYSE:NVT) by 57.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,558 shares of the company’s stock after acquiring an additional 568 shares during the period. Brown Brothers Harriman & Co.’s holdings in nVent Electric were worth $119,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the stock. Banque Cantonale Vaudoise purchased a new position in shares of nVent Electric during the 1st quarter valued at approximately $26,000. Livelsberger Financial Advisory purchased a new position in nVent Electric in the fourth quarter valued at $28,000. ORG Partners LLC purchased a new position in nVent Electric in the second quarter valued at $31,000. Rise Advisors LLC acquired a new position in shares of nVent Electric in the first quarter worth about $32,000. Finally, First Foundation Advisors purchased a new stake in shares of nVent Electric during the 2nd quarter worth about $34,000. 90.05% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at nVent Electric

In other nVent Electric news, Director Herbert K. Parker acquired 7,566 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was bought at an average price of $65.71 per share, with a total value of $497,161.86. Following the purchase, the director now owns 34,524 shares in the company, valued at $2,268,572.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Lynnette R. Heath sold 8,242 shares of nVent Electric stock in a transaction 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 in the company, valued at approximately $1,833,832.32. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Herbert K. Parker acquired 7,566 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was purchased at an average cost of $65.71 per share, with a total value of $497,161.86. Following the acquisition, the director now directly owns 34,524 shares of the company’s stock, valued at approximately $2,268,572.04. The disclosure for this purchase can be found here. Insiders own 2.50% of the company’s stock.

nVent Electric Price Performance

Shares of nVent Electric stock opened at $66.99 on Thursday. The stock has a market capitalization of $11.12 billion, a P/E ratio of 19.53, a PEG ratio of 1.22 and a beta of 1.27. The business has a 50 day simple moving average of $67.74 and a two-hundred day simple moving average of $73.33. nVent Electric plc has a 12 month low of $45.60 and a 12 month high of $86.57. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.17 and a quick ratio of 1.49.

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

Analyst Upgrades and Downgrades

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

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.