Summit Trail Advisors LLC Sells 1,073 Shares of nVent Electric plc (NYSE:NVT)

Summit Trail Advisors LLC lessened its stake in shares of nVent Electric plc (NYSE:NVT) by 15.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,039 shares of the company’s stock after selling 1,073 shares during the quarter. Summit Trail Advisors LLC’s holdings in nVent Electric were worth $463,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Signaturefd LLC increased its holdings in shares of nVent Electric by 22.0% during the second quarter. Signaturefd LLC now owns 860 shares of the company’s stock valued at $66,000 after acquiring an additional 155 shares in the last quarter. FinTrust Capital Advisors LLC grew its position in nVent Electric by 17.5% during the 4th quarter. FinTrust Capital Advisors LLC now owns 1,056 shares of the company’s stock worth $62,000 after purchasing an additional 157 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in nVent Electric by 15.7% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,008 shares of the company’s stock valued at $145,000 after purchasing an additional 272 shares in the last quarter. Sciencast Management LP raised its holdings in shares of nVent Electric by 7.1% in the first quarter. Sciencast Management LP now owns 4,397 shares of the company’s stock worth $332,000 after buying an additional 293 shares during the last quarter. Finally, Banque Cantonale Vaudoise lifted its stake in shares of nVent Electric by 87.2% during the second quarter. Banque Cantonale Vaudoise now owns 642 shares of the company’s stock worth $49,000 after buying an additional 299 shares during the period. Institutional investors own 90.05% of the company’s stock.

Insiders Place Their Bets

In other news, insider Michael B. Faulconer sold 20,004 shares of nVent Electric stock in a transaction that occurred 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 directly owns 19,766 shares of the company’s stock, valued at approximately $1,251,978.44. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, insider Michael B. Faulconer sold 20,004 shares of the stock in a transaction dated 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 sale, the insider now directly owns 19,766 shares of the company’s stock, valued at approximately $1,251,978.44. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Lynnette R. Heath sold 8,242 shares of nVent Electric stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $60.26, for a total value of $496,662.92. Following the completion of the transaction, the executive vice president now owns 30,432 shares of the company’s stock, valued at approximately $1,833,832.32. The disclosure for this sale can be found here. Insiders own 2.50% of the company’s stock.

Analyst Upgrades and Downgrades

NVT has been the topic of several research reports. KeyCorp raised nVent Electric from a “sector weight” rating to an “overweight” rating and set a $80.00 target price on the stock in a research report on Wednesday, September 4th. Barclays increased their price objective on nVent Electric from $85.00 to $95.00 and gave the company an “overweight” rating in a report on Tuesday, June 4th. Finally, Royal Bank of Canada reduced their price objective 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. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $86.50.

nVent Electric Price Performance

NYSE:NVT opened at $70.33 on Tuesday. The firm’s fifty day moving average is $67.25 and its two-hundred day moving average is $73.39. The firm has a market cap of $11.68 billion, a price-to-earnings ratio of 20.50, a PEG 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 one year low of $45.60 and a one year high of $86.57.

nVent Electric (NYSE:NVT) last issued its earnings results on Tuesday, August 6th. The company reported $0.82 EPS for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.01). The company had revenue of $880.30 million during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.77 EPS. Research analysts expect that nVent Electric plc will post 3.26 EPS 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.