Hancock Whitney Corp Sells 7,587 Shares of nVent Electric plc (NYSE:NVT)

Hancock Whitney Corp lowered its holdings in shares of nVent Electric plc (NYSE:NVT) by 33.4% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 15,136 shares of the company’s stock after selling 7,587 shares during the quarter. Hancock Whitney Corp’s holdings in nVent Electric were worth $1,160,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in NVT. Balyasny Asset Management L.P. increased its holdings in nVent Electric by 201.9% during the fourth quarter. Balyasny Asset Management L.P. now owns 1,401,285 shares of the company’s stock valued at $82,802,000 after buying an additional 937,149 shares during the last quarter. Schroder Investment Management Group bought a new position in nVent Electric in the 4th quarter worth $51,781,000. Massachusetts Financial Services Co. MA lifted its position in nVent Electric by 16.0% during the second quarter. Massachusetts Financial Services Co. MA now owns 4,884,487 shares of the company’s stock valued at $374,201,000 after purchasing an additional 673,990 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in nVent Electric by 50.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,633,421 shares of the company’s stock valued at $96,519,000 after purchasing an additional 547,624 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado grew its holdings in nVent Electric by 2,475.4% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 558,714 shares of the company’s stock valued at $33,014,000 after purchasing an additional 537,020 shares during the period. Institutional investors own 90.05% of the company’s stock.

nVent Electric Trading Down 0.0 %

nVent Electric stock opened at $70.46 on Monday. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.17 and a quick ratio of 1.49. The firm’s 50 day moving average price is $67.42 and its 200-day moving average price is $73.38. nVent Electric plc has a 1 year low of $45.60 and a 1 year high of $86.57. The stock has a market cap 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 (NYSE:NVT) last announced its quarterly 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 company had revenue of $880.30 million during the quarter, compared to analysts’ expectations 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 firm earned $0.77 EPS. On average, equities analysts predict that nVent Electric plc will post 3.26 earnings per share for the current fiscal year.

Insider Activity at nVent Electric

In other nVent Electric news, EVP Lynnette R. Heath sold 8,242 shares of nVent Electric stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $60.26, for a total value of $496,662.92. Following the sale, the executive vice president now owns 30,432 shares of the company’s stock, valued at approximately $1,833,832.32. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other nVent Electric news, Director Herbert K. Parker acquired 7,566 shares of the stock in a transaction on Thursday, August 15th. The stock was acquired at an average price of $65.71 per share, for a total transaction of $497,161.86. Following the completion of the transaction, the director now directly owns 34,524 shares of the company’s stock, valued at $2,268,572.04. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Lynnette R. Heath sold 8,242 shares of the business’s 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 completion of the sale, the executive vice president now 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.

Analysts Set New Price Targets

A number of research firms have recently weighed in on NVT. Barclays lifted 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. Royal Bank of Canada decreased their target price 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. Finally, KeyCorp upgraded shares of nVent Electric from a “sector weight” rating to an “overweight” rating and set a $80.00 price target for the company in a research report on Wednesday, September 4th. Six research analysts have rated the stock with a buy rating, According to MarketBeat, nVent Electric currently has a consensus rating of “Buy” and a consensus price target 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.