Teachers Retirement System of The State of Kentucky lowered its holdings in shares of nVent Electric plc (NYSE:NVT – Get Rating) by 6.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 23,000 shares of the company's stock after selling 1,600 shares during the period. Teachers Retirement System of The State of Kentucky's holdings in nVent Electric were worth $800,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. AdvisorNet Financial Inc grew 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 acquiring an additional 624 shares during the period. Bank of New Hampshire acquired a new stake in nVent Electric in the first quarter valued at approximately $88,000. Annex Advisory Services LLC acquired a new stake in nVent Electric in the first quarter valued at approximately $205,000. Virtu Financial LLC acquired a new stake in nVent Electric in the first quarter valued at approximately $210,000. Finally, NorthRock Partners LLC acquired a new stake in nVent Electric in the first quarter valued at approximately $212,000. Institutional investors and hedge funds own 88.28% of the company's stock.
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nVent Electric Stock Performance
Shares of nVent Electric stock opened at $31.49 on Friday. The business's fifty day simple moving average is $34.11 and its 200 day simple moving average is $33.96. The firm has a market capitalization of $5.24 billion, a P/E ratio of 18.42 and a beta of 1.43. nVent Electric plc has a 12 month low of $29.19 and a 12 month high of $39.53. The company has a current ratio of 1.75, a quick ratio of 1.13 and a debt-to-equity ratio of 0.40.
nVent Electric (NYSE:NVT – Get Rating) last issued its quarterly earnings results on Friday, July 29th. The company reported $0.57 EPS for the quarter, topping analysts' consensus estimates of $0.54 by $0.03. The business 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%. nVent Electric's quarterly revenue was up 21.1% compared to the same quarter last year. During the same period last year, the company posted $0.50 earnings per share. As a group, analysts anticipate that nVent Electric plc will post 2.22 EPS for the current year.
Insider Buying and Selling
In related 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 transaction of $56,778.90. Following the sale, the insider now directly owns 19,106 shares in the company, valued at $682,275.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other nVent Electric news, CFO Sara E. Zawoyski sold 3,591 shares of the firm's stock in a transaction on Tuesday, August 16th. The stock was 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 directly owns 43,927 shares of the company's stock, valued at $1,620,027.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Michael B. Faulconer sold 1,590 shares of the firm's 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 completion of the sale, the insider now directly owns 19,106 shares of the company's stock, valued at $682,275.26. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,965 shares of company stock worth $288,632. 2.00% of the stock is owned by company insiders.
Analyst Ratings Changes
A number of brokerages have commented on NVT. 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 research note on Monday, August 1st. The Goldman Sachs Group dropped their target price on nVent Electric from $43.00 to $38.00 and set a "buy" rating on the stock in a report on Thursday, June 23rd. Finally, Barclays raised their target price on nVent Electric from $43.00 to $47.00 and gave the company an "overweight" rating in a report on Monday, August 1st. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $41.80.
nVent Electric 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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