Mutual of America Capital Management LLC Decreases Position in nVent Electric plc (NYSE:NVT)

Mutual of America Capital Management LLC lowered its stake in nVent Electric plc (NYSE:NVT) by 3.8% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 95,055 shares of the company’s stock after selling 3,796 shares during the quarter. Mutual of America Capital Management LLC owned about 0.06% of nVent Electric worth $7,282,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of NVT. Norges Bank purchased a new stake in shares of nVent Electric during the fourth quarter valued at approximately $109,630,000. Balyasny Asset Management L.P. lifted its holdings in nVent Electric by 201.9% in 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 in the last quarter. Schroder Investment Management Group purchased a new position in nVent Electric in the 4th quarter valued at about $51,781,000. Massachusetts Financial Services Co. MA grew its stake 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 valued at $374,201,000 after acquiring an additional 673,990 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its position in shares of nVent Electric by 50.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,633,421 shares of the company’s stock worth $96,519,000 after acquiring an additional 547,624 shares during the last quarter. 90.05% of the stock is currently owned by hedge funds and other institutional investors.

nVent Electric Price Performance

Shares of NYSE NVT opened at $70.47 on Friday. The business has a 50 day simple moving average of $67.57 and a 200-day simple moving average of $73.31. nVent Electric plc has a twelve month low of $45.60 and a twelve month high of $86.57. The company has a market capitalization of $11.70 billion, a price-to-earnings ratio of 20.55, a price-to-earnings-growth ratio of 1.22 and a beta of 1.27. The company has a current ratio of 2.17, a quick ratio of 1.49 and a debt-to-equity ratio of 0.53.

nVent Electric (NYSE:NVT) last issued its earnings results 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). nVent Electric had a return on equity of 17.21% and a net margin of 16.59%. The business had revenue of $880.30 million for the quarter, compared to analyst estimates of $892.89 million. During the same period last year, the company posted $0.77 earnings per share. The firm’s revenue for the quarter was up 9.6% on a year-over-year basis. As a group, equities research analysts expect that nVent Electric plc will post 3.26 earnings per share for the current year.

Analyst Ratings Changes

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

Insider Buying and Selling at nVent Electric

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 sale, the executive vice president now directly owns 30,432 shares in the company, valued at approximately $1,833,832.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Herbert K. Parker purchased 7,566 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were bought 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Lynnette R. Heath sold 8,242 shares of the business’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 value of $496,662.92. Following the transaction, the executive vice president now 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 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.