nVent Electric plc (NYSE:NVT) Shares Bought by LPL Financial LLC

LPL Financial LLC increased its holdings in nVent Electric plc (NYSE:NVT) by 5.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 158,204 shares of the company’s stock after buying an additional 7,677 shares during the quarter. LPL Financial LLC owned about 0.10% of nVent Electric worth $6,793,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of NVT. Raymond James Financial Services Advisors Inc. increased its holdings in nVent Electric by 9.2% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 10,999 shares of the company’s stock worth $383,000 after buying an additional 923 shares during the period. AlphaCrest Capital Management LLC grew its stake in shares of nVent Electric by 36.8% during the 1st quarter. AlphaCrest Capital Management LLC now owns 11,498 shares of the company’s stock worth $400,000 after purchasing an additional 3,093 shares during the period. Natixis Advisors L.P. grew its stake in shares of nVent Electric by 15.4% during the 1st quarter. Natixis Advisors L.P. now owns 43,511 shares of the company’s stock worth $1,514,000 after purchasing an additional 5,807 shares during the period. Bank of Montreal Can grew its stake in shares of nVent Electric by 10.6% during the 1st quarter. Bank of Montreal Can now owns 21,601 shares of the company’s stock worth $768,000 after purchasing an additional 2,072 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in shares of nVent Electric by 10.5% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 61,657 shares of the company’s stock worth $2,144,000 after purchasing an additional 5,879 shares during the period. Institutional investors and hedge funds own 87.76% of the company’s stock.

Insider Buying and Selling at nVent Electric

In other nVent Electric news, CAO Randolph A. Wacker sold 1,519 shares of the firm’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $55.21, for a total value of $83,863.99. Following the transaction, the chief accounting officer now owns 20,366 shares in the company, valued at approximately $1,124,406.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CAO Randolph A. Wacker sold 1,519 shares of nVent Electric stock in a transaction on Friday, August 4th. The stock was sold at an average price of $55.21, for a total transaction of $83,863.99. Following the transaction, the chief accounting officer now owns 20,366 shares in the company, valued at approximately $1,124,406.86. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Joseph A. Ruzynski sold 4,711 shares of nVent Electric stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $54.66, for a total value of $257,503.26. Following the transaction, the insider now owns 38,440 shares in the company, valued at approximately $2,101,130.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 24,797 shares of company stock worth $1,206,045. Corporate insiders own 2.40% of the company’s stock.

nVent Electric Trading Up 0.7 %

Shares of NYSE:NVT opened at $55.32 on Thursday. nVent Electric plc has a 1 year low of $30.48 and a 1 year high of $56.34. The firm has a market capitalization of $9.17 billion, a price-to-earnings ratio of 20.34 and a beta of 1.33. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.09 and a quick ratio of 1.32. The business’s 50 day moving average price is $52.70 and its 200-day moving average price is $46.97.

nVent Electric (NYSE:NVT) last announced its quarterly earnings data on Friday, July 28th. The company reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.09. The company had revenue of $803.00 million for the quarter, compared to analyst estimates of $809.05 million. nVent Electric had a return on equity of 16.85% and a net margin of 15.14%. The firm’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.57 EPS. On average, equities research analysts forecast that nVent Electric plc will post 2.9 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. William Blair assumed coverage on shares of nVent Electric in a research note on Thursday, July 27th. They set an “outperform” rating on the stock. The Goldman Sachs Group raised their price objective on shares of nVent Electric from $55.00 to $58.00 in a research note on Tuesday, May 30th. Seaport Res Ptn reaffirmed a “neutral” rating on shares of nVent Electric in a research note on Monday, August 7th. Barclays increased their target price on nVent Electric from $55.00 to $69.00 and gave the company an “overweight” rating in a research report on Monday, July 31st. Finally, Royal Bank of Canada increased their target price on nVent Electric from $57.00 to $60.00 and gave the company an “outperform” rating in a research report on Monday, July 31st. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $55.25.

nVent Electric Company Profile

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; indoor and outdoor protection for test and measurement and aerospace and defense applications in industrial, infrastructure, commercial, and energy verticals; and metallic and non-metallic enclosures, cabinets, sub racks, and backplanes.