CoreCap Advisors LLC Buys Shares of 4,036 nVent Electric plc (NYSE:NVT)

CoreCap Advisors LLC purchased a new stake in nVent Electric plc (NYSE:NVT) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 4,036 shares of the company’s stock, valued at approximately $309,000.

A number of other hedge funds also recently made changes to their positions in NVT. International Assets Investment Management LLC bought a new stake in nVent Electric during the 4th quarter valued at $821,000. Private Advisor Group LLC raised its stake 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 valued at $367,000 after purchasing an additional 191 shares in the last quarter. QRG Capital Management Inc. acquired a new stake in nVent Electric in the fourth quarter worth about $200,000. Vanguard Personalized Indexing Management LLC grew its position in nVent Electric by 59.2% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 19,426 shares of the company’s stock valued at $1,148,000 after buying an additional 7,224 shares in the last quarter. Finally, NorthRock Partners LLC increased its stake in nVent Electric by 7.0% during the 4th quarter. NorthRock Partners LLC now owns 4,157 shares of the company’s stock valued at $246,000 after buying an additional 271 shares during the period. Institutional investors own 90.05% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on NVT. Barclays increased their price objective on shares of nVent Electric from $85.00 to $95.00 and gave the company an “overweight” rating in a report on Tuesday, June 4th. Royal Bank of Canada decreased their price target 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. Finally, KeyCorp raised nVent Electric from a “sector weight” rating to an “overweight” rating and set a $80.00 price objective on the stock in a research note on Wednesday, September 4th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $86.50.

Insiders Place Their Bets

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

nVent Electric Trading Up 2.0 %

nVent Electric stock opened at $65.83 on Friday. The firm has a market cap of $10.93 billion, a price-to-earnings ratio of 19.19, a price-to-earnings-growth ratio of 1.22 and a beta of 1.27. nVent Electric plc has a 1 year low of $45.60 and a 1 year high of $86.57. The firm’s 50 day moving average price is $68.37 and its two-hundred day moving average price is $73.35. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.49 and a current ratio of 2.17.

nVent Electric (NYSE:NVT) last issued its earnings results 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 during the quarter, compared to analyst estimates of $892.89 million. During the same quarter in the previous year, the firm earned $0.77 earnings per share. The business’s revenue was up 9.6% compared to the same quarter last year. On average, research analysts predict that nVent Electric plc will post 3.26 EPS for the current fiscal year.

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.