MQS Management LLC Makes New $606,000 Investment in nVent Electric plc (NYSE:NVT)

MQS Management LLC bought a new stake in nVent Electric plc (NYSE:NVT) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor bought 7,915 shares of the company’s stock, valued at approximately $606,000.

A number of other institutional investors and hedge funds also recently modified their holdings of NVT. Seven Eight Capital LP acquired a new stake in shares of nVent Electric in the second quarter valued at approximately $1,119,000. Hsbc Holdings PLC lifted its holdings in nVent Electric by 6.7% during the 2nd quarter. Hsbc Holdings PLC now owns 15,188 shares of the company’s stock valued at $1,159,000 after purchasing an additional 950 shares during the last quarter. Vanguard Personalized Indexing Management LLC boosted its position in nVent Electric by 11.9% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 16,914 shares of the company’s stock worth $1,293,000 after purchasing an additional 1,795 shares during the period. L & S Advisors Inc acquired a new position in shares of nVent Electric in the second quarter valued at $2,671,000. Finally, Quantbot Technologies LP acquired a new stake in nVent Electric during the second quarter worth approximately $2,765,000. 90.05% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

nVent Electric Price Performance

nVent Electric stock opened at $66.99 on Thursday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.49 and a current ratio of 2.17. nVent Electric plc has a 52 week low of $45.60 and a 52 week high of $86.57. The stock has a market capitalization of $11.12 billion, a P/E ratio of 19.53, a price-to-earnings-growth ratio of 1.22 and a beta of 1.27. The stock has a fifty day moving average of $67.74 and a 200-day moving average of $73.33.

nVent Electric (NYSE:NVT) last posted its quarterly 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). 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 analyst estimates of $892.89 million. During the same quarter in the previous year, the business posted $0.77 earnings per share. The company’s revenue for the quarter was up 9.6% on a year-over-year basis. On average, sell-side analysts expect that nVent Electric plc will post 3.26 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Lynnette R. Heath sold 8,242 shares of nVent Electric stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $60.26, for a total transaction of $496,662.92. Following the sale, 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other nVent Electric news, EVP Lynnette R. Heath sold 8,242 shares of the company’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 value of $496,662.92. Following the completion of the transaction, the executive vice president now directly owns 30,432 shares in the company, valued at approximately $1,833,832.32. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Herbert K. Parker purchased 7,566 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were acquired at an average price of $65.71 per share, for a total transaction of $497,161.86. Following the acquisition, the director now 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.

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.