Public Employees Retirement Association of Colorado Sells 104,013 Shares of nVent Electric plc (NYSE:NVT)

Public Employees Retirement Association of Colorado lowered its holdings in nVent Electric plc (NYSE:NVT) by 18.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 450,080 shares of the company’s stock after selling 104,013 shares during the quarter. Public Employees Retirement Association of Colorado owned 0.27% of nVent Electric worth $34,481,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Benjamin F. Edwards & Company Inc. boosted its stake in nVent Electric by 57.4% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,467 shares of the company’s stock valued at $112,000 after acquiring an additional 535 shares during the last quarter. Intech Investment Management LLC acquired a new stake in shares of nVent Electric during the second quarter worth $1,677,000. MQS Management LLC acquired a new stake in shares of nVent Electric during the second quarter worth $606,000. Seven Eight Capital LP acquired a new stake in nVent Electric in the 2nd quarter valued at $1,119,000. Finally, Hsbc Holdings PLC increased its stake in nVent Electric by 6.7% in the 2nd quarter. Hsbc Holdings PLC now owns 15,188 shares of the company’s stock valued at $1,159,000 after buying an additional 950 shares during the last quarter. Institutional investors own 90.05% of the company’s stock.

Insider Buying and Selling at nVent Electric

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

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. Royal Bank of Canada cut 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. Barclays upped their price objective on shares of nVent Electric from $85.00 to $95.00 and gave the company an “overweight” rating in a research note on Tuesday, June 4th. Finally, KeyCorp raised 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 research note on Wednesday, September 4th. Six research analysts have rated the stock with a buy rating, According to MarketBeat, nVent Electric currently has a consensus rating of “Buy” and a consensus target price of $86.50.

nVent Electric Stock Up 5.2 %

Shares of NYSE NVT opened at $70.47 on Friday. The company has a market cap of $11.70 billion, a price-to-earnings ratio of 20.55, a PEG ratio of 1.22 and a beta of 1.27. The firm’s fifty day moving average is $67.57 and its 200 day moving average is $73.31. nVent Electric plc has a 52 week low of $45.60 and a 52 week high of $86.57. The company has a quick ratio of 1.49, a current ratio of 2.17 and a debt-to-equity ratio of 0.53.

nVent Electric (NYSE:NVT) last released 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). The business had revenue of $880.30 million for the quarter, compared to analysts’ expectations of $892.89 million. nVent Electric had a net margin of 16.59% and a return on equity of 17.21%. nVent Electric’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.77 EPS. On average, equities research analysts expect that nVent Electric plc will post 3.26 earnings per share for the current year.

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.