Amalgamated Bank Reduces Holdings in nVent Electric plc (NYSE:NVT)

Amalgamated Bank decreased its stake in shares of nVent Electric plc (NYSE:NVT) by 15.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 83,872 shares of the company’s stock after selling 15,712 shares during the period. Amalgamated Bank owned approximately 0.05% of nVent Electric worth $6,425,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. Signaturefd LLC grew its holdings in shares of nVent Electric by 22.0% during the 2nd quarter. Signaturefd LLC now owns 860 shares of the company’s stock worth $66,000 after acquiring an additional 155 shares during the period. FinTrust Capital Advisors LLC raised its holdings in nVent Electric by 17.5% in the fourth quarter. FinTrust Capital Advisors LLC now owns 1,056 shares of the company’s stock worth $62,000 after purchasing an additional 157 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in nVent Electric by 16.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,736 shares of the company’s stock valued at $103,000 after buying an additional 247 shares during the period. Sciencast Management LP boosted its holdings in shares of nVent Electric by 7.1% during the 1st quarter. Sciencast Management LP now owns 4,397 shares of the company’s stock valued at $332,000 after buying an additional 293 shares in the last quarter. Finally, Banque Cantonale Vaudoise grew its position in shares of nVent Electric by 87.2% in the 2nd quarter. Banque Cantonale Vaudoise now owns 642 shares of the company’s stock worth $49,000 after buying an additional 299 shares during the period. 90.05% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on NVT shares. Royal Bank of Canada dropped their price objective on shares of nVent Electric from $88.00 to $82.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. 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, Barclays raised their price objective 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 data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $86.50.

Insider Buying and Selling

In other nVent Electric news, insider Michael B. Faulconer sold 20,004 shares of the company’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $63.34, for a total transaction of $1,267,053.36. Following the transaction, the insider now owns 19,766 shares in the company, valued at approximately $1,251,978.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other nVent Electric news, insider Michael B. Faulconer sold 20,004 shares of nVent Electric stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $63.34, for a total value of $1,267,053.36. Following the completion of the sale, the insider now owns 19,766 shares of the company’s stock, valued at approximately $1,251,978.44. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Lynnette R. Heath sold 8,242 shares of the stock in a transaction 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 transaction, the executive vice president now directly owns 30,432 shares in the company, valued at $1,833,832.32. The disclosure for this sale can be found here. 2.50% of the stock is owned by corporate insiders.

nVent Electric Trading Up 5.2 %

Shares of NYSE NVT opened at $70.47 on Friday. The firm’s 50 day moving average price is $67.57 and its 200-day moving average price is $73.31. nVent Electric plc has a 52-week low of $45.60 and a 52-week high of $86.57. 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 company has a market cap of $11.70 billion, a PE ratio of 20.55, a P/E/G ratio of 1.22 and a beta of 1.27.

nVent Electric (NYSE:NVT) last issued its earnings results on Tuesday, August 6th. The company reported $0.82 EPS for the quarter, missing the consensus estimate of $0.83 by ($0.01). The business had revenue of $880.30 million for 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 revenue for the quarter was up 9.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.77 earnings per share. On average, equities research analysts expect that nVent Electric plc will post 3.26 EPS 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.