8,350 Shares in nVent Electric PLC (NYSE:NVT) Bought by Qube Research & Technologies Ltd

Qube Research & Technologies Ltd bought a new position in nVent Electric PLC (NYSE:NVT) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 8,350 shares of the company’s stock, valued at approximately $207,000.

Several other hedge funds and other institutional investors also recently modified their holdings of NVT. Stevens Capital Management LP acquired a new position in shares of nVent Electric in the 1st quarter worth approximately $1,068,000. TCW Group Inc. boosted its position in nVent Electric by 3.1% during the 1st quarter. TCW Group Inc. now owns 2,280,691 shares of the company’s stock valued at $61,533,000 after buying an additional 68,217 shares during the period. Los Angeles Capital Management & Equity Research Inc. boosted its position in nVent Electric by 416.4% during the 1st quarter. Los Angeles Capital Management & Equity Research Inc. now owns 76,225 shares of the company’s stock valued at $2,057,000 after buying an additional 61,465 shares during the period. Eos Focused Equity Management L.P. boosted its position in nVent Electric by 61.8% during the 1st quarter. Eos Focused Equity Management L.P. now owns 79,115 shares of the company’s stock valued at $2,135,000 after buying an additional 30,223 shares during the period. Finally, BNP Paribas Arbitrage SA boosted its position in nVent Electric by 3,157.2% during the 1st quarter. BNP Paribas Arbitrage SA now owns 710,260 shares of the company’s stock valued at $19,163,000 after buying an additional 688,454 shares during the period. Institutional investors and hedge funds own 88.19% of the company’s stock.

Shares of NYSE:NVT opened at $20.93 on Thursday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.87 and a quick ratio of 1.25. nVent Electric PLC has a 1-year low of $19.71 and a 1-year high of $29.65. The company has a market capitalization of $3.57 billion, a P/E ratio of 12.03 and a beta of 1.54. The firm’s 50 day simple moving average is $23.30 and its two-hundred day simple moving average is $25.39.

nVent Electric (NYSE:NVT) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.44 earnings per share for the quarter, meeting the consensus estimate of $0.44. nVent Electric had a net margin of 11.43% and a return on equity of 11.69%. The business had revenue of $539.50 million for the quarter, compared to the consensus estimate of $550.75 million. During the same quarter in the previous year, the firm earned $0.44 earnings per share. The company’s revenue for the quarter was down .6% on a year-over-year basis. On average, sell-side analysts anticipate that nVent Electric PLC will post 1.79 earnings per share for the current fiscal year.

In other news, Director Michael L. Ducker acquired 2,000 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were acquired at an average price of $20.51 per share, for a total transaction of $41,020.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Beth Wozniak acquired 5,000 shares of the business’s stock in a transaction on Friday, August 9th. The shares were purchased at an average price of $21.29 per share, for a total transaction of $106,450.00. The disclosure for this purchase can be found here. Insiders own 1.60% of the company’s stock.

NVT has been the subject of several analyst reports. ValuEngine cut shares of nVent Electric from a “sell” rating to a “strong sell” rating in a research report on Thursday, July 11th. Barclays restated a “hold” rating and set a $25.00 target price on shares of nVent Electric in a research report on Sunday, August 4th. Vertical Research lowered shares of nVent Electric from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Zacks Investment Research lowered shares of nVent Electric from a “hold” rating to a “sell” rating in a research report on Saturday, August 3rd. Finally, Buckingham Research lowered shares of nVent Electric from a “buy” rating to a “neutral” rating and cut their target price for the company from $29.00 to $23.00 in a research report on Tuesday, August 6th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. nVent Electric presently has a consensus rating of “Hold” and an average price target of $27.33.

nVent Electric Profile

nVent Electric plc designs, manufactures, markets, installs, and services electrical connection and protection products in the United States, Canada, Mexico, Europe, the Middle East, Africa, and internationally. The company operates through three segments: Enclosures, Thermal Management, and Electrical & Fastening Solutions.

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Institutional Ownership by Quarter for nVent Electric (NYSE:NVT)

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