nVent Electric plc (NYSE:NVT) Shares Bought by Brown Brothers Harriman & Co.

Brown Brothers Harriman & Co. raised its stake in shares of nVent Electric plc (NYSE:NVT) by 57.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,558 shares of the company’s stock after acquiring an additional 568 shares during the period. Brown Brothers Harriman & Co.’s holdings in nVent Electric were worth $119,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Boston Partners boosted its position in shares of nVent Electric by 3.2% during the 1st quarter. Boston Partners now owns 3,325,834 shares of the company’s stock worth $250,770,000 after purchasing an additional 102,643 shares during the period. Clean Energy Transition LLP grew its stake in shares of nVent Electric by 1.6% in the fourth quarter. Clean Energy Transition LLP now owns 2,540,545 shares of the company’s stock valued at $150,121,000 after buying an additional 39,169 shares in the last quarter. Congress Asset Management Co. MA raised its holdings in shares of nVent Electric by 1.2% in the 1st quarter. Congress Asset Management Co. MA now owns 2,219,332 shares of the company’s stock valued at $167,338,000 after buying an additional 26,897 shares during the period. Norges Bank purchased a new stake in shares of nVent Electric in the 4th quarter valued at $109,630,000. Finally, Fiduciary Management Inc. WI lifted its stake in nVent Electric by 1.8% during the 4th quarter. Fiduciary Management Inc. WI now owns 1,772,270 shares of the company’s stock worth $104,723,000 after acquiring an additional 31,621 shares in the last quarter. 90.05% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other nVent Electric news, EVP Lynnette R. Heath sold 8,242 shares of the firm’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $60.26, for a total value of $496,662.92. Following the sale, the executive vice president now directly owns 30,432 shares in the company, valued at $1,833,832.32. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other nVent Electric news, Director Herbert K. Parker bought 7,566 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The stock was purchased at an average price of $65.71 per share, for a total transaction of $497,161.86. Following the completion of the purchase, the director now directly owns 34,524 shares in the company, valued at $2,268,572.04. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Lynnette R. Heath sold 8,242 shares of the stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $60.26, for a total transaction of $496,662.92. Following the completion of the transaction, the executive vice president now owns 30,432 shares in the company, valued at $1,833,832.32. The disclosure for this sale can be found here. Insiders own 2.50% of the company’s stock.

nVent Electric Stock Performance

Shares of nVent Electric stock opened at $66.99 on Thursday. The business has a 50-day simple moving average of $67.74 and a 200-day simple moving average of $73.33. 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 plc has a one year low of $45.60 and a one year high of $86.57. The company has a market cap of $11.12 billion, a PE ratio of 19.53, a P/E/G ratio of 1.22 and a beta of 1.27.

nVent Electric (NYSE:NVT) last posted its quarterly earnings results 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 firm had revenue of $880.30 million for the quarter, compared to analyst estimates of $892.89 million. During the same quarter last year, the firm earned $0.77 EPS. The company’s revenue was up 9.6% on a year-over-year basis. On average, equities research analysts forecast that nVent Electric plc will post 3.26 EPS for the current fiscal year.

Analyst Ratings Changes

NVT has been the subject of several research reports. Barclays lifted their target price on nVent Electric from $85.00 to $95.00 and gave the company an “overweight” rating in a research report on Tuesday, June 4th. Royal Bank of Canada dropped their price objective on shares of nVent Electric from $88.00 to $82.00 and set an “outperform” rating for the company in a report on Wednesday, August 7th. 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 report on Wednesday, September 4th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $86.50.

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.