Versor Investments LP Invests $1.02 Million in nVent Electric PLC $NVT

Versor Investments LP bought a new position in nVent Electric PLC (NYSE:NVT) in the 1st quarter, Holdings Channel.com reports. The institutional investor bought 19,471 shares of the company’s stock, valued at approximately $1,021,000.

Several other large investors have also recently modified their holdings of NVT. Capital A Wealth Management LLC purchased a new position in shares of nVent Electric in the fourth quarter worth about $27,000. Whipplewood Advisors LLC increased its stake in shares of nVent Electric by 467.3% in the first quarter. Whipplewood Advisors LLC now owns 607 shares of the company’s stock worth $32,000 after purchasing an additional 500 shares in the last quarter. Hughes Financial Services LLC purchased a new position in shares of nVent Electric in the first quarter worth about $36,000. Park Square Financial Group LLC purchased a new position in shares of nVent Electric in the fourth quarter worth about $38,000. Finally, First Horizon Advisors Inc. increased its stake in shares of nVent Electric by 58.0% in the first quarter. First Horizon Advisors Inc. now owns 817 shares of the company’s stock worth $43,000 after purchasing an additional 300 shares in the last quarter. Hedge funds and other institutional investors own 90.05% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on NVT. Roth Capital reaffirmed a “buy” rating and set a $100.00 price objective (up previously from $89.00) on shares of nVent Electric in a research note on Monday, August 4th. KeyCorp boosted their price objective on shares of nVent Electric from $78.00 to $84.00 and gave the company an “overweight” rating in a research note on Tuesday, July 15th. Barclays reaffirmed an “overweight” rating on shares of nVent Electric in a research note on Monday, August 4th. Citigroup boosted their price objective on shares of nVent Electric from $69.00 to $86.00 and gave the company a “buy” rating in a research note on Monday, July 14th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $102.00 price objective (up previously from $85.00) on shares of nVent Electric in a research note on Monday, August 4th. Eight equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $87.00.

nVent Electric Trading Up 1.6%

Shares of nVent Electric stock opened at $89.42 on Tuesday. nVent Electric PLC has a 1 year low of $41.71 and a 1 year high of $92.75. The firm has a market cap of $14.39 billion, a PE ratio of 25.47, a PEG ratio of 1.51 and a beta of 1.35. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.67 and a quick ratio of 1.20. The company has a 50 day simple moving average of $77.60 and a two-hundred day simple moving average of $65.58.

nVent Electric (NYSE:NVT) last announced its earnings results on Friday, August 1st. The company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.07. nVent Electric had a net margin of 17.72% and a return on equity of 13.36%. The business had revenue of $963.10 million during the quarter, compared to analyst estimates of $906.96 million. During the same period in the previous year, the business posted $0.82 earnings per share. nVent Electric’s revenue for the quarter was up 30.1% on a year-over-year basis. Analysts expect that nVent Electric PLC will post 3.04 earnings per share for the current fiscal year.

Insider Buying and Selling at nVent Electric

In other news, EVP Aravind Padmanabhan sold 24,534 shares of the business’s stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $90.00, for a total value of $2,208,060.00. Following the completion of the sale, the executive vice president directly owned 12,063 shares in the company, valued at approximately $1,085,670. The trade was a 67.04% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Sara E. Zawoyski sold 22,109 shares of the business’s stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $89.54, for a total transaction of $1,979,639.86. Following the completion of the sale, the insider owned 66,640 shares of the company’s stock, valued at approximately $5,966,945.60. The trade was a 24.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 218,780 shares of company stock valued at $19,591,172 over the last quarter. Company insiders own 2.50% of the company’s stock.

About nVent Electric

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.