nVent Electric plc (NYSE:NVT) is Clean Energy Transition LLP’s 5th Largest Position

Clean Energy Transition LLP decreased its stake in nVent Electric plc (NYSE:NVT) by 35.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,440,724 shares of the company’s stock after selling 779,466 shares during the period. nVent Electric makes up 6.0% of Clean Energy Transition LLP’s portfolio, making the stock its 5th biggest position. Clean Energy Transition LLP owned 0.87% of nVent Electric worth $110,374,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Transatlantique Private Wealth LLC boosted its position in shares of nVent Electric by 48.7% in the second quarter. Transatlantique Private Wealth LLC now owns 28,254 shares of the company’s stock worth $2,165,000 after buying an additional 9,251 shares during the period. Sei Investments Co. boosted its holdings in nVent Electric by 6.3% in the second quarter. Sei Investments Co. now owns 125,269 shares of the company’s stock valued at $9,598,000 after purchasing an additional 7,419 shares during the last quarter. Pacer Advisors Inc. boosted its holdings in nVent Electric by 3.9% in the second quarter. Pacer Advisors Inc. now owns 35,474 shares of the company’s stock valued at $2,718,000 after purchasing an additional 1,343 shares during the last quarter. Canada Pension Plan Investment Board purchased a new position in nVent Electric in the second quarter valued at about $61,000. Finally, Granite Investment Partners LLC purchased a new position in nVent Electric in the second quarter valued at about $7,281,000. Hedge funds and other institutional investors own 90.05% of the company’s stock.

Insider Transactions at nVent Electric

In related news, Director Herbert K. Parker purchased 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, for a total transaction of $497,161.86. Following the transaction, the director now owns 34,524 shares of the company’s stock, valued at $2,268,572.04. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. In other nVent Electric news, Director Herbert K. Parker acquired 7,566 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The stock was acquired 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 transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Michael B. Faulconer sold 20,004 shares of the 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 completion of the transaction, the insider now directly owns 19,766 shares of the company’s stock, valued at $1,251,978.44. The disclosure for this sale can be found here. Insiders own 2.50% of the company’s stock.

Analyst Upgrades and Downgrades

NVT has been the subject of a number of analyst reports. 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 price target on nVent Electric from $88.00 to $82.00 and set an “outperform” rating for the company in a report on Wednesday, August 7th. Finally, Barclays increased their price target on nVent Electric from $85.00 to $95.00 and gave the company an “overweight” rating in a report on Tuesday, June 4th. Six analysts have rated the stock with a buy rating, According to MarketBeat, nVent Electric has a consensus rating of “Buy” and a consensus price target of $86.50.

nVent Electric Trading Down 0.0 %

Shares of NYSE NVT opened at $70.46 on Friday. The company has a quick ratio of 1.49, a current ratio of 2.17 and a debt-to-equity ratio of 0.53. The stock’s 50 day moving average price is $67.42 and its two-hundred day moving average price is $73.32. The stock has a market capitalization of $11.70 billion, a P/E ratio of 20.54, a PEG 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.

nVent Electric (NYSE:NVT) last announced 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). The company 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 for the quarter was up 9.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.77 earnings per share. On average, analysts anticipate that nVent Electric plc will post 3.26 earnings per share for the current fiscal year.

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.