Lombard Odier Asset Management Europe Ltd Reduces Stock Position in nVent Electric plc (NYSE:NVT)

Lombard Odier Asset Management Europe Ltd decreased its holdings in nVent Electric plc (NYSE:NVT) by 24.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 104,854 shares of the company’s stock after selling 33,919 shares during the period. Lombard Odier Asset Management Europe Ltd owned about 0.06% of nVent Electric worth $8,033,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of NVT. Banque Cantonale Vaudoise purchased a new position in nVent Electric in the 1st quarter worth about $26,000. Livelsberger Financial Advisory purchased a new position in shares of nVent Electric during the fourth quarter worth approximately $28,000. ORG Partners LLC purchased a new position in nVent Electric during the 2nd quarter worth $31,000. Rise Advisors LLC bought a new stake in nVent Electric during the 1st quarter valued at $32,000. Finally, First Foundation Advisors bought a new position in shares of nVent Electric during the 2nd quarter worth $34,000. Hedge funds and other institutional investors own 90.05% of the company’s stock.

Insiders Place Their Bets

In other nVent Electric news, EVP Lynnette R. Heath sold 8,242 shares of the firm’s stock in a transaction 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 completion of the sale, 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 Securities & Exchange Commission, which can be accessed through this hyperlink. In other nVent Electric news, insider Michael B. Faulconer sold 20,004 shares of nVent Electric 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 completion of the sale, the insider now directly owns 19,766 shares in the company, valued at $1,251,978.44. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Lynnette R. Heath sold 8,242 shares of the company’s stock in a transaction that occurred on 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 transaction, 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 currently owned by corporate insiders.

Analysts Set New Price Targets

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

nVent Electric Stock Down 0.0 %

Shares of NVT opened at $70.46 on Monday. The company has a current ratio of 2.17, a quick ratio of 1.49 and a debt-to-equity ratio of 0.53. The firm 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. The stock’s 50 day moving average is $67.42 and its two-hundred day moving average is $73.38. nVent Electric plc has a 12 month low of $45.60 and a 12 month high of $86.57.

nVent Electric (NYSE:NVT) last released its earnings results on Tuesday, August 6th. The company reported $0.82 EPS 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 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% on a year-over-year basis. During the same period in the prior year, the firm earned $0.77 EPS. Analysts predict that nVent Electric plc will post 3.26 earnings per share 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.