Vanguard Personalized Indexing Management LLC Raises Stake in nVent Electric plc (NYSE:NVT)

Vanguard Personalized Indexing Management LLC grew its position in nVent Electric plc (NYSE:NVT) by 11.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,914 shares of the company’s stock after purchasing an additional 1,795 shares during the quarter. Vanguard Personalized Indexing Management LLC’s holdings in nVent Electric were worth $1,293,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Banque Cantonale Vaudoise acquired a new stake in nVent Electric in the first quarter valued at $26,000. Livelsberger Financial Advisory acquired a new stake in shares of nVent Electric during the 4th quarter worth about $28,000. ORG Partners LLC purchased a new stake in nVent Electric during the second quarter worth approximately $31,000. Rise Advisors LLC acquired a new position in nVent Electric in the first quarter valued at approximately $32,000. Finally, First Foundation Advisors purchased a new position in nVent Electric in the second quarter valued at approximately $34,000. 90.05% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on NVT. KeyCorp upgraded shares of nVent Electric from a “sector weight” rating to an “overweight” rating and set a $80.00 target price for the company in a report on Wednesday, September 4th. Royal Bank of Canada decreased their price objective on shares of nVent Electric from $88.00 to $82.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. Finally, Barclays lifted their target price on nVent Electric from $85.00 to $95.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 4th. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $86.50.

Insider Activity at nVent Electric

In other nVent Electric news, insider Michael B. Faulconer sold 20,004 shares of the company’s stock in a transaction on 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 transaction, the insider now owns 19,766 shares in the company, valued at approximately $1,251,978.44. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other nVent Electric news, insider Michael B. Faulconer sold 20,004 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The stock was 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 value of $496,662.92. Following the transaction, the executive vice president now directly owns 30,432 shares of the company’s stock, valued at $1,833,832.32. The disclosure for this sale can be found here. 2.50% of the stock is currently owned by insiders.

nVent Electric Price Performance

Shares of NVT opened at $70.46 on Monday. 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 plc has a fifty-two week low of $45.60 and a fifty-two week high of $86.57. The firm has a 50-day simple moving average of $67.42 and a 200-day simple moving average of $73.38. The company has a market capitalization of $11.70 billion, a price-to-earnings ratio of 20.54, a price-to-earnings-growth ratio of 1.22 and a beta of 1.27.

nVent Electric (NYSE:NVT) last posted its quarterly earnings data 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 was up 9.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.77 earnings per share. On average, equities research analysts anticipate that nVent Electric plc will post 3.26 earnings per share for the current year.

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.