Verition Fund Management LLC raised its stake in nVent Electric plc (NYSE:NVT – Get Rating) by 558.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 207,755 shares of the company's stock after buying an additional 176,195 shares during the quarter. Verition Fund Management LLC owned about 0.12% of nVent Electric worth $7,226,000 at the end of the most recent reporting period.
Other institutional investors have also recently bought and sold shares of the company. AdvisorNet Financial Inc lifted its stake in nVent Electric by 39.9% in the first quarter. AdvisorNet Financial Inc now owns 2,186 shares of the company's stock valued at $76,000 after buying an additional 624 shares in the last quarter. Bank of New Hampshire bought a new stake in shares of nVent Electric in the first quarter worth $88,000. Annex Advisory Services LLC bought a new stake in shares of nVent Electric in the first quarter worth $205,000. Virtu Financial LLC bought a new stake in shares of nVent Electric in the first quarter worth $210,000. Finally, NorthRock Partners LLC bought a new stake in shares of nVent Electric in the first quarter worth $212,000. Institutional investors own 88.28% of the company's stock.
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Analyst Ratings Changes
A number of analysts have recently commented on NVT shares. The Goldman Sachs Group cut their price objective on shares of nVent Electric from $43.00 to $38.00 and set a "buy" rating on the stock in a research report on Thursday, June 23rd. Barclays upped their price target on shares of 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 upped their price target on shares of nVent Electric from $36.00 to $39.00 and gave the stock an "outperform" rating in a research report on Monday, August 1st. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $41.80.
Insider Buying and Selling
In other news, CFO Sara E. Zawoyski sold 3,591 shares of nVent Electric 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 completion of the sale, the chief financial officer now owns 43,927 shares of the company's stock, valued at $1,620,027.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Sara E. Zawoyski sold 3,591 shares of the firm's stock in a transaction that occurred on Tuesday, August 16th. The shares were sold at an average price of $36.88, for a total transaction of $132,436.08. Following the transaction, the chief financial officer now directly owns 43,927 shares of the company's stock, valued at $1,620,027.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Randolph A. Wacker sold 2,784 shares of the stock in a transaction that occurred on Wednesday, August 10th. The stock was sold at an average price of $35.71, for a total value of $99,416.64. Following the sale, the chief accounting officer now directly owns 13,531 shares in the company, valued at approximately $483,192.01. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,965 shares of company stock valued at $288,632. Insiders own 2.00% of the company's stock.
nVent Electric Price Performance
NYSE:NVT opened at $33.69 on Thursday. nVent Electric plc has a one year low of $29.19 and a one year high of $39.53. The company has a market cap of $5.61 billion, a P/E ratio of 19.70 and a beta of 1.43. The firm's fifty day moving average price is $33.86 and its two-hundred day moving average price is $34.02. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.75 and a quick ratio of 1.13.
nVent Electric (NYSE:NVT – Get Rating) last released its quarterly earnings data on Friday, July 29th. The company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.54 by $0.03. The firm had revenue of $728.00 million for the quarter, compared to the consensus estimate of $687.72 million. nVent Electric had a net margin of 10.57% and a return on equity of 14.02%. The company's quarterly revenue was up 21.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.50 earnings per share. Equities analysts expect that nVent Electric plc will post 2.22 earnings per share for the current year.
About nVent Electric
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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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