36,086 Shares in nVent Electric plc (NYSE:NVT) Purchased by Quantbot Technologies LP

Quantbot Technologies LP acquired a new position in shares of nVent Electric plc (NYSE:NVT) in the second quarter, according to its most recent disclosure with the SEC. The firm acquired 36,086 shares of the company’s stock, valued at approximately $2,765,000.

Other hedge funds also recently added to or reduced their stakes in the company. Private Advisor Group LLC lifted its holdings in shares of nVent Electric by 3.2% during the fourth quarter. Private Advisor Group LLC now owns 6,216 shares of the company’s stock worth $367,000 after purchasing an additional 191 shares during the period. QRG Capital Management Inc. acquired a new stake in shares of nVent Electric in the 4th quarter worth $200,000. Norges Bank purchased a new stake in shares of nVent Electric in the fourth quarter valued at about $109,630,000. PNC Financial Services Group Inc. increased its stake in shares of nVent Electric by 7.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 93,334 shares of the company’s stock worth $5,515,000 after acquiring an additional 6,858 shares during the period. Finally, Coldstream Capital Management Inc. raised its holdings in nVent Electric by 32.4% during the fourth quarter. Coldstream Capital Management Inc. now owns 11,997 shares of the company’s stock worth $709,000 after purchasing an additional 2,938 shares in the last quarter. 90.05% of the stock is owned by institutional investors and hedge funds.

nVent Electric Stock Up 1.2 %

NVT opened at $66.56 on Wednesday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.49 and a current ratio of 2.17. The company has a market cap of $11.05 billion, a price-to-earnings ratio of 19.41, a PEG ratio of 1.22 and a beta of 1.27. nVent Electric plc has a one year low of $45.60 and a one year high of $86.57. The business’s fifty day moving average is $67.96 and its two-hundred day moving average is $73.38.

nVent Electric (NYSE:NVT) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.82 EPS for the quarter, missing the consensus estimate of $0.83 by ($0.01). nVent Electric had a return on equity of 17.21% and a net margin of 16.59%. The business had revenue of $880.30 million during the quarter, compared to analysts’ expectations of $892.89 million. During the same quarter in the prior year, the firm earned $0.77 earnings per share. nVent Electric’s quarterly revenue was up 9.6% on a year-over-year basis. Analysts anticipate that nVent Electric plc will post 3.26 EPS for the current fiscal year.

Analysts Set New Price Targets

NVT has been the subject of a number of analyst reports. Royal Bank of Canada cut their target price on nVent Electric from $88.00 to $82.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. Barclays increased their price objective on nVent Electric from $85.00 to $95.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 4th. Finally, KeyCorp upgraded shares of nVent Electric from a “sector weight” rating to an “overweight” rating and set a $80.00 target price on the stock in a research report on Wednesday, September 4th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, nVent Electric has a consensus rating of “Buy” and an average target price of $86.50.

Insider Activity

In related news, insider Michael B. Faulconer sold 20,004 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $63.34, for a total value of $1,267,053.36. Following the sale, the insider now owns 19,766 shares of the company’s stock, valued at approximately $1,251,978.44. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, EVP Lynnette R. Heath sold 8,242 shares of the business’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $60.26, for a total value of $496,662.92. Following the completion of the transaction, the executive vice president now owns 30,432 shares of the company’s stock, valued at approximately $1,833,832.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michael B. Faulconer sold 20,004 shares of the company’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $63.34, for a total transaction of $1,267,053.36. Following the completion of the transaction, the insider now owns 19,766 shares in the company, valued at $1,251,978.44. The disclosure for this sale can be found here. Company insiders own 2.50% of the company’s stock.

nVent Electric Profile

nVent Electric plc, together with its subsidiaries, designs, manufactures, markets, installs, and services electrical connection and protection solutions in North America, Europe, the Middle East, Africa, the Asia Pacific, and internationally. The company operates through three segments: Enclosures, Electrical & Fastening Solutions, and Thermal Management.