Seven Eight Capital LP Acquires Shares of 14,605 nVent Electric plc (NYSE:NVT)

Seven Eight Capital LP acquired a new stake in nVent Electric plc (NYSE:NVT) during the second quarter, Holdings Channel.com reports. The firm acquired 14,605 shares of the company’s stock, valued at approximately $1,119,000.

Several other institutional investors have also modified their holdings of NVT. Nordea Investment Management AB raised its stake in nVent Electric by 15.5% in the first quarter. Nordea Investment Management AB now owns 75,323 shares of the company’s stock valued at $5,684,000 after buying an additional 10,135 shares in the last quarter. Federated Hermes Inc. increased its holdings in shares of nVent Electric by 6.6% in the 2nd quarter. Federated Hermes Inc. now owns 410,902 shares of the company’s stock valued at $31,479,000 after acquiring an additional 25,482 shares during the last quarter. Mountain Pacific Investment Advisers Inc. ID raised its position in shares of nVent Electric by 85.1% during the 1st quarter. Mountain Pacific Investment Advisers Inc. ID now owns 116,629 shares of the company’s stock worth $8,794,000 after acquiring an additional 53,633 shares in the last quarter. State Board of Administration of Florida Retirement System raised its position in shares of nVent Electric by 4.7% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 190,240 shares of the company’s stock worth $14,344,000 after acquiring an additional 8,489 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale lifted its stake in nVent Electric by 18.0% during the first quarter. DekaBank Deutsche Girozentrale now owns 306,319 shares of the company’s stock worth $23,099,000 after purchasing an additional 46,748 shares during the last quarter. 90.05% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have commented on NVT shares. Royal Bank of Canada dropped their price target on shares of nVent Electric from $88.00 to $82.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. Barclays lifted their price target on shares of nVent Electric from $85.00 to $95.00 and gave the stock 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 price target for the company in a research report on Wednesday, September 4th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, nVent Electric currently has an average rating of “Buy” and a consensus target price of $86.50.

nVent Electric Stock Down 0.0 %

NVT stock opened at $70.46 on Friday. The company has a market cap of $11.70 billion, a price-to-earnings ratio of 20.54, a price-to-earnings-growth ratio of 1.22 and a beta of 1.27. The company has a fifty day moving average price of $67.42 and a 200 day moving average price of $73.32. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.17 and a quick ratio of 1.49. nVent Electric plc has a 12 month low of $45.60 and a 12 month high of $86.57.

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

Insider Activity at nVent Electric

In other nVent Electric news, insider Michael B. Faulconer sold 20,004 shares of the business’s stock in a transaction on 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 transaction, the insider now directly owns 19,766 shares of the company’s stock, valued at approximately $1,251,978.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Michael B. Faulconer sold 20,004 shares of nVent Electric 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 sale, the insider now owns 19,766 shares of the company’s stock, valued at $1,251,978.44. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Lynnette R. Heath sold 8,242 shares of the firm’s stock in a transaction dated 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 sale, the executive vice president now owns 30,432 shares of the company’s stock, valued at approximately $1,833,832.32. The disclosure for this sale can be found here. 2.50% of the stock is currently owned by insiders.

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.