Posted by AM Reporter Staff on Aug 27th, 2022

Coldstream Capital Management Inc. lowered its position in nVent Electric plc (NYSE:NVT – Get Rating) by 7.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,429 shares of the company’s stock after selling 632 shares during the quarter. Coldstream Capital Management Inc.’s holdings in nVent Electric were worth $293,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. State Street Corp grew its stake in nVent Electric by 3.2% in the fourth quarter. State Street Corp now owns 4,648,346 shares of the company’s stock valued at $176,637,000 after purchasing an additional 143,886 shares in the last quarter. Nuveen Asset Management LLC lifted its position in shares of nVent Electric by 2.7% in the fourth quarter. Nuveen Asset Management LLC now owns 3,099,012 shares of the company’s stock worth $117,763,000 after buying an additional 80,298 shares during the last quarter. Clark Capital Management Group Inc. lifted its position in shares of nVent Electric by 3.5% in the fourth quarter. Clark Capital Management Group Inc. now owns 2,729,811 shares of the company’s stock worth $103,733,000 after buying an additional 91,641 shares during the last quarter. Clean Energy Transition LLP acquired a new stake in shares of nVent Electric in the fourth quarter worth about $91,151,000. Finally, Massachusetts Financial Services Co. MA lifted its position in shares of nVent Electric by 16.2% in the first quarter. Massachusetts Financial Services Co. MA now owns 1,907,800 shares of the company’s stock worth $66,353,000 after buying an additional 265,914 shares during the last quarter. Hedge funds and other institutional investors own 88.44% of the company’s stock.

A number of brokerages have weighed in on NVT. The Goldman Sachs Group reduced their price target on nVent Electric from $43.00 to $38.00 and set a “buy” rating for the company in a research report on Thursday, June 23rd. Barclays boosted their price target on nVent Electric from $43.00 to $47.00 and gave the stock an “overweight” rating in a research report on Monday, August 1st. Finally, Royal Bank of Canada boosted their price target on nVent Electric from $36.00 to $39.00 and gave the stock an “outperform” rating in a research report on Monday, August 1st. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $41.80.

NYSE NVT opened at $33.98 on Friday. nVent Electric plc has a twelve month low of $29.19 and a twelve month high of $39.53. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.13 and a current ratio of 1.75. The stock has a market capitalization of $5.66 billion, a PE ratio of 19.87 and a beta of 1.43. The stock has a 50-day simple moving average of $33.25 and a 200 day simple moving average of $34.05.

nVent Electric (NYSE:NVT – Get Rating) last issued its quarterly earnings results on Friday, July 29th. The company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.03. nVent Electric had a return on equity of 14.02% and a net margin of 10.57%. The firm had revenue of $728.00 million for the quarter, compared to analyst estimates of $687.72 million. During the same period in the previous year, the company posted $0.50 earnings per share. The company’s quarterly revenue was up 21.1% compared to the same quarter last year. Research analysts anticipate that nVent Electric plc will post 2.22 EPS for the current year.

In other nVent Electric news, CFO Sara E. Zawoyski sold 3,591 shares of the company’s stock in a transaction on Tuesday, August 16th. The stock was sold at an average price of $36.88, for a total transaction of $132,436.08. Following the transaction, the chief financial officer now owns 43,927 shares of the company’s stock, valued at approximately $1,620,027.76. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other nVent Electric news, CFO Sara E. Zawoyski sold 3,591 shares of the stock in a transaction dated Tuesday, August 16th. The stock was sold at an average price of $36.88, for a total transaction of $132,436.08. Following the completion of the transaction, the chief financial officer now owns 43,927 shares in the company, valued at approximately $1,620,027.76. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Michael B. Faulconer sold 1,590 shares of the firm’s stock in a transaction dated Wednesday, August 10th. The shares were sold at an average price of $35.71, for a total value of $56,778.90. Following the completion of the transaction, the insider now owns 19,106 shares of the company’s stock, valued at approximately $682,275.26. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 7,965 shares of company stock worth $288,632. Company insiders own 2.00% of the company’s stock.

nVent Electric plc designs, manufactures, markets, installs, and services electrical connection and protection products worldwide. The company operates through three segments: Enclosures, Electrical & Fastening Solutions, and Thermal Management. The Enclosures segment provides solutions to connect and protect critical electronics, communication, control, and power equipment; physical infrastructure solutions to host, connect, and protect server and network equipment; and indoor and outdoor protection for test and measurement and aerospace and defense applications in industrial, infrastructure, commercial, and energy verticals.

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