Mount Yale Investment Advisors LLC Decreases Stock Holdings in nVent Electric plc (NYSE:NVT)

Mount Yale Investment Advisors LLC lessened its holdings in nVent Electric plc (NYSE:NVT) by 3.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,486 shares of the company’s stock after selling 532 shares during the quarter. Mount Yale Investment Advisors LLC’s holdings in nVent Electric were worth $1,110,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Banque Cantonale Vaudoise purchased a new position in shares of nVent Electric in the 1st quarter valued at about $26,000. ORG Partners LLC acquired a new position in nVent Electric in the second quarter valued at approximately $31,000. Rise Advisors LLC purchased a new position in nVent Electric in the first quarter valued at approximately $32,000. First Foundation Advisors acquired a new stake in nVent Electric during the second quarter worth approximately $34,000. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in shares of nVent Electric during the 2nd quarter worth approximately $34,000. 90.05% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at nVent Electric

In other news, Director Herbert K. Parker bought 7,566 shares of the stock in a transaction dated Thursday, August 15th. The shares were acquired at an average price of $65.71 per share, with a total value of $497,161.86. Following the completion of the acquisition, the director now directly owns 34,524 shares in the company, valued at $2,268,572.04. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, EVP Lynnette R. Heath sold 8,242 shares of the 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 directly owns 30,432 shares of the company’s stock, valued at approximately $1,833,832.32. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Herbert K. Parker purchased 7,566 shares of the firm’s stock in a transaction that occurred 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 purchase, the director now owns 34,524 shares of the company’s stock, valued at $2,268,572.04. The disclosure for this purchase can be found here. 2.50% of the stock is currently owned by corporate insiders.

nVent Electric Price Performance

Shares of NYSE:NVT opened at $70.46 on Monday. nVent Electric plc has a one year low of $45.60 and a one year high of $86.57. The stock has a market capitalization of $11.70 billion, a price-to-earnings ratio of 20.54, a PEG ratio of 1.22 and a beta of 1.27. The company has a 50-day simple moving average of $67.42 and a 200-day simple moving average of $73.38. 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 (NYSE:NVT) last posted its quarterly earnings data 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 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 firm’s revenue was up 9.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.77 earnings per share. On average, analysts predict that nVent Electric plc will post 3.26 EPS for the current year.

Analysts Set New Price Targets

NVT has been the topic of several research analyst reports. KeyCorp upgraded shares of nVent Electric from a “sector weight” rating to an “overweight” rating and set a $80.00 price target on the stock in a research note on Wednesday, September 4th. Royal Bank of Canada cut their target price on nVent Electric from $88.00 to $82.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 7th. Finally, Barclays upped their target price 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 investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, nVent Electric presently has a consensus rating of “Buy” and an average price target of $86.50.

nVent Electric 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.