Eventide Asset Management LLC boosted its stake in shares of nVent Electric plc (NYSE:NVT – Get Rating) by 6.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 882,600 shares of the company's stock after acquiring an additional 50,400 shares during the quarter. Eventide Asset Management LLC owned 0.53% of nVent Electric worth $30,697,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of NVT. Clean Energy Transition LLP acquired a new stake in nVent Electric in the fourth quarter valued at approximately $91,151,000. Commerce Bank grew its holdings in nVent Electric by 18,270.5% in the fourth quarter. Commerce Bank now owns 1,239,088 shares of the company's stock valued at $47,086,000 after purchasing an additional 1,232,343 shares during the period. Credit Suisse AG grew its holdings in nVent Electric by 571.9% in the fourth quarter. Credit Suisse AG now owns 1,065,202 shares of the company's stock valued at $40,478,000 after purchasing an additional 906,674 shares during the period. Woodline Partners LP acquired a new stake in nVent Electric in the fourth quarter valued at approximately $17,477,000. Finally, BlackRock Inc. grew its holdings in nVent Electric by 3.2% in the first quarter. BlackRock Inc. now owns 14,459,036 shares of the company's stock valued at $502,885,000 after purchasing an additional 454,668 shares during the period. 88.28% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other nVent Electric news, insider Michael B. Faulconer sold 1,590 shares of the business's stock in a transaction on Wednesday, August 10th. The stock was sold at an average price of $35.71, for a total transaction of $56,778.90. Following the transaction, the insider now owns 19,106 shares of the company's stock, valued at $682,275.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other nVent Electric news, insider Michael B. Faulconer sold 1,590 shares of nVent Electric stock in a transaction on Wednesday, August 10th. The stock was sold at an average price of $35.71, for a total value of $56,778.90. Following the sale, the insider now owns 19,106 shares in the company, valued at $682,275.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Sara E. Zawoyski sold 3,591 shares of nVent Electric stock in a transaction on Tuesday, August 16th. The shares were sold at an average price of $36.88, for a total value of $132,436.08. Following the completion of the sale, the chief financial officer now owns 43,927 shares in the company, valued at approximately $1,620,027.76. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 7,965 shares of company stock valued at $288,632. Insiders own 2.10% of the company's stock.

nVent Electric Stock Performance

nVent Electric (NYSE:NVT – Get Rating) last released its quarterly earnings data on Friday, July 29th. The company reported $0.57 earnings per share for the quarter, topping analysts' consensus estimates of $0.54 by $0.03. The company had revenue of $728.00 million for the quarter, compared to analyst estimates of $687.72 million. nVent Electric had a return on equity of 14.02% and a net margin of 10.57%. The firm's revenue for the quarter was up 21.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.50 earnings per share. As a group, equities research analysts expect that nVent Electric plc will post 2.22 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have commented on NVT shares. Royal Bank of Canada raised their price objective on nVent Electric from $36.00 to $39.00 and gave the company an "outperform" rating in a report on Monday, August 1st. Barclays lifted their price target on nVent Electric from $43.00 to $47.00 and gave the stock an "overweight" rating in a research note on Monday, August 1st. Finally, The Goldman Sachs Group lowered their price target on nVent Electric from $43.00 to $38.00 and set a "buy" rating on the stock in a research note on Thursday, June 23rd. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $41.80.

nVent Electric Company Profile

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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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