Envestnet Asset Management Inc. Purchases 132,128 Shares of nVent Electric plc (NYSE:NVT)

Envestnet Asset Management Inc. lifted its stake in nVent Electric plc (NYSE:NVT) by 16.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 936,409 shares of the company’s stock after buying an additional 132,128 shares during the period. Envestnet Asset Management Inc. owned approximately 0.56% of nVent Electric worth $71,738,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Banque Cantonale Vaudoise bought a new stake in shares of nVent Electric in the first quarter valued at approximately $26,000. ORG Partners LLC bought a new stake in shares of nVent Electric in the second quarter valued at approximately $31,000. Rise Advisors LLC bought a new stake in shares of nVent Electric in the first quarter valued at approximately $32,000. First Foundation Advisors bought a new stake in shares of nVent Electric in the second quarter valued at approximately $34,000. Finally, Ashton Thomas Private Wealth LLC bought a new stake in shares of nVent Electric in the second quarter valued at approximately $34,000. 90.05% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

NVT has been the subject of several recent research reports. Royal Bank of Canada cut their price target on nVent Electric from $88.00 to $82.00 and set an “outperform” rating for the company in a research note 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 objective for the company in a research report on Wednesday, September 4th. Finally, Barclays boosted their price objective on shares of nVent Electric from $85.00 to $95.00 and gave the company an “overweight” rating in a research report on Tuesday, June 4th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $86.50.

Insider Transactions at nVent Electric

In other news, EVP Lynnette R. Heath sold 8,242 shares of the company’s stock in a transaction on Wednesday, August 7th. The shares were 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 in the company, valued at $1,833,832.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Lynnette R. Heath sold 8,242 shares of the 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 in the company, valued at $1,833,832.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Herbert K. Parker acquired 7,566 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The stock was bought 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 of the company’s stock, valued at $2,268,572.04. The disclosure for this purchase can be found here. Company insiders own 2.50% of the company’s stock.

nVent Electric Stock Up 1.2 %

Shares of NYSE:NVT opened at $66.56 on Wednesday. The company has a fifty day moving average of $67.96 and a 200-day moving average of $73.38. The company has a market capitalization of $11.05 billion, a PE ratio of 19.41, a price-to-earnings-growth ratio of 1.22 and a beta of 1.27. 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 52-week low of $45.60 and a 52-week high of $86.57.

nVent Electric (NYSE:NVT) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.82 earnings per share (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 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 quarterly revenue was up 9.6% on a year-over-year basis. During the same quarter last year, the company posted $0.77 earnings per share. On average, equities analysts predict that nVent Electric plc will post 3.26 EPS for the current fiscal 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.