PFG Investments LLC Sells 243 Shares of nVent Electric plc (NYSE:NVT)

PFG Investments LLC trimmed its holdings in shares of nVent Electric plc (NYSE:NVT) by 4.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,064 shares of the company’s stock after selling 243 shares during the quarter. PFG Investments LLC’s holdings in nVent Electric were worth $388,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Banque Cantonale Vaudoise purchased a new stake in shares of nVent Electric during the 1st quarter valued at $26,000. Livelsberger Financial Advisory bought a new stake in nVent Electric in the fourth quarter worth about $28,000. ORG Partners LLC purchased a new position in nVent Electric in the second quarter valued at about $31,000. Rise Advisors LLC purchased a new position in nVent Electric in the first quarter valued at about $32,000. Finally, First Foundation Advisors bought a new position in shares of nVent Electric during the 2nd quarter valued at approximately $34,000. 90.05% of the stock is currently owned by institutional investors.

nVent Electric Trading Up 1.0 %

NYSE:NVT opened at $64.55 on Friday. nVent Electric plc has a 1 year low of $45.60 and a 1 year high of $86.57. The stock’s fifty day moving average price is $68.58 and its two-hundred day moving average price is $73.31. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.17 and a quick ratio of 1.49. The company has a market cap of $10.73 billion, a P/E ratio of 18.82, a P/E/G ratio of 1.18 and a beta of 1.27.

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

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 shares were sold at an average price of $63.34, for a total transaction 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Michael B. Faulconer sold 20,004 shares of the business’s stock in a transaction dated Tuesday, August 13th. The stock was 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 directly owns 19,766 shares in the company, valued at $1,251,978.44. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Herbert K. Parker purchased 7,566 shares of the stock in a transaction on Thursday, August 15th. The stock was acquired at an average cost of $65.71 per share, for a total transaction of $497,161.86. Following the acquisition, the director now owns 34,524 shares in the company, valued at $2,268,572.04. The disclosure for this purchase can be found here. 2.50% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Royal Bank of Canada dropped their price objective on nVent Electric from $88.00 to $82.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. KeyCorp raised nVent Electric from a “sector weight” rating to an “overweight” rating and set a $80.00 price target on the stock in a research report on Wednesday, September 4th. Finally, Barclays lifted their price objective on nVent Electric from $85.00 to $95.00 and gave the stock an “overweight” rating in a report on Tuesday, June 4th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $86.50.

nVent Electric Company 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.