Choreo LLC Acquires Shares of 3,534 nVent Electric plc (NYSE:NVT)

Choreo LLC acquired a new stake in nVent Electric plc (NYSE:NVT) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,534 shares of the company’s stock, valued at approximately $266,000.

Several other large investors also recently bought and sold shares of the stock. Signaturefd LLC boosted its stake in shares of nVent Electric by 22.0% during the second quarter. Signaturefd LLC now owns 860 shares of the company’s stock worth $66,000 after buying an additional 155 shares during the period. FinTrust Capital Advisors LLC boosted its stake in shares of nVent Electric by 17.5% during the fourth quarter. FinTrust Capital Advisors LLC now owns 1,056 shares of the company’s stock worth $62,000 after buying an additional 157 shares during the period. Private Advisor Group LLC boosted its stake in shares of nVent Electric by 3.2% during the fourth quarter. Private Advisor Group LLC now owns 6,216 shares of the company’s stock worth $367,000 after buying an additional 191 shares during the period. EverSource Wealth Advisors LLC boosted its stake in shares of nVent Electric by 16.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,736 shares of the company’s stock worth $103,000 after buying an additional 247 shares during the period. Finally, Sciencast Management LP boosted its stake in shares of nVent Electric by 7.1% during the first quarter. Sciencast Management LP now owns 4,397 shares of the company’s stock worth $332,000 after buying an additional 293 shares during the period. Institutional investors and hedge funds own 90.05% of the company’s stock.

Wall Street Analysts Forecast Growth

NVT has been the subject of several recent research reports. KeyCorp upgraded shares of nVent Electric from a “sector weight” rating to an “overweight” rating and set a $80.00 target price for the company in a research note on Wednesday, September 4th. Barclays increased their target price on shares of nVent Electric from $85.00 to $95.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 4th. Finally, Royal Bank of Canada decreased their target price on shares of nVent Electric from $88.00 to $82.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $86.50.

Insider Buying and Selling at nVent Electric

In other nVent Electric news, EVP Lynnette R. Heath sold 8,242 shares of the stock in a transaction dated 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 directly owns 30,432 shares of the company’s stock, valued at $1,833,832.32. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, EVP Lynnette R. Heath sold 8,242 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $60.26, for a total transaction of $496,662.92. Following the completion of the transaction, the executive vice president now directly owns 30,432 shares of the company’s stock, valued at approximately $1,833,832.32. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Herbert K. Parker acquired 7,566 shares of the company’s stock in a transaction dated 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 completion of the purchase, the director now owns 34,524 shares in the company, valued at $2,268,572.04. The disclosure for this purchase can be found here. 2.50% of the stock is currently owned by corporate insiders.

nVent Electric Trading Up 0.6 %

NYSE NVT opened at $66.99 on Thursday. The stock has a market capitalization of $11.12 billion, a P/E ratio of 19.53, a P/E/G ratio of 1.22 and a beta of 1.27. nVent Electric plc has a 52-week low of $45.60 and a 52-week high of $86.57. The firm has a 50-day moving average price of $67.74 and a 200 day moving average price of $73.33. 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 issued its earnings results on Tuesday, August 6th. The company reported $0.82 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.01). nVent Electric had a net margin of 16.59% and a return on equity of 17.21%. The company had revenue of $880.30 million during the quarter, compared to analysts’ expectations of $892.89 million. During the same period last year, the business posted $0.77 earnings per share. The company’s quarterly revenue was up 9.6% on a year-over-year basis. Equities research analysts expect that nVent Electric plc will post 3.26 EPS for the current 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.