Intech Investment Management LLC Acquires Shares of 21,887 nVent Electric plc (NYSE:NVT)

Intech Investment Management LLC bought a new position in shares of nVent Electric plc (NYSE:NVT) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 21,887 shares of the company’s stock, valued at approximately $1,677,000.

A number of other institutional investors have also recently modified their holdings of the business. Balyasny Asset Management L.P. raised its stake in shares of nVent Electric by 201.9% during the 4th quarter. Balyasny Asset Management L.P. now owns 1,401,285 shares of the company’s stock worth $82,802,000 after buying an additional 937,149 shares during the period. Schroder Investment Management Group acquired a new stake in nVent Electric during the 4th quarter worth $51,781,000. Massachusetts Financial Services Co. MA grew its holdings in shares of 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 worth $374,201,000 after buying an additional 673,990 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of nVent Electric by 50.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,633,421 shares of the company’s stock valued at $96,519,000 after buying an additional 547,624 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado raised its holdings in nVent Electric by 2,475.4% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 558,714 shares of the company’s stock valued at $33,014,000 after acquiring an additional 537,020 shares during the last quarter. 90.05% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently commented on NVT. Royal Bank of Canada reduced their price target on shares of nVent Electric from $88.00 to $82.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 7th. 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. Finally, Barclays upped their price objective on shares of nVent Electric from $85.00 to $95.00 and gave the stock an “overweight” rating in a report on Tuesday, June 4th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, nVent Electric presently has a consensus rating of “Buy” and an average price target of $86.50.

Insiders Place Their Bets

In related news, Director Herbert K. Parker acquired 7,566 shares of the firm’s stock in a transaction dated 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 purchase, the director now owns 34,524 shares of the company’s stock, valued at approximately $2,268,572.04. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 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 sale, the executive vice president now directly owns 30,432 shares in the company, valued at $1,833,832.32. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Herbert K. Parker acquired 7,566 shares of the stock in a transaction dated Thursday, August 15th. The shares were acquired at an average cost of $65.71 per share, with a total value of $497,161.86. Following the completion of the transaction, the director now owns 34,524 shares in the company, valued at approximately $2,268,572.04. The disclosure for this purchase can be found here. 2.50% of the stock is owned by company insiders.

nVent Electric Stock Down 0.2 %

Shares of NVT opened at $70.33 on Tuesday. The company’s 50-day simple moving average is $67.25 and its 200-day simple moving average is $73.39. 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 1 year low of $45.60 and a 1 year high of $86.57. The stock has a market capitalization of $11.68 billion, a PE ratio of 20.50, a P/E/G ratio of 1.22 and a beta of 1.27.

nVent Electric (NYSE:NVT) last released its earnings results on Tuesday, August 6th. The company reported $0.82 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.01). The business 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%. nVent Electric’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.77 earnings per share. Analysts forecast 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.