Los Angeles Capital Management & Equity Research Inc. Raises Stock Position in nVent Electric PLC (NYSE:NVT)

Los Angeles Capital Management & Equity Research Inc. raised its stake in shares of nVent Electric PLC (NYSE:NVT) by 130.8% during the second quarter, Holdings Channel reports. The firm owned 175,925 shares of the company’s stock after buying an additional 99,700 shares during the quarter. Los Angeles Capital Management & Equity Research Inc.’s holdings in nVent Electric were worth $4,361,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Investors Research Corp bought a new stake in shares of nVent Electric during the 1st quarter valued at $101,000. World Asset Management Inc bought a new position in nVent Electric in the 1st quarter worth about $205,000. Raymond James Trust N.A. bought a new position in nVent Electric in the 1st quarter worth about $217,000. Machina Capital S.A.S. bought a new position in nVent Electric in the 2nd quarter worth about $222,000. Finally, CIBC Asset Management Inc bought a new position in nVent Electric in the 1st quarter worth about $233,000. 88.99% of the stock is currently owned by institutional investors and hedge funds.

A number of equities analysts have weighed in on NVT shares. Buckingham Research lowered nVent Electric from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $29.00 to $23.00 in a research report on Tuesday, August 6th. ValuEngine lowered nVent Electric from a “sell” rating to a “strong sell” rating in a research report on Thursday, July 11th. Barclays reaffirmed a “hold” rating and set a $25.00 price target on shares of nVent Electric in a research report on Sunday, August 4th. Zacks Investment Research lowered shares of nVent Electric from a “hold” rating to a “sell” rating in a research report on Saturday, August 3rd. Finally, Vertical Research lowered shares of nVent Electric from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. nVent Electric currently has a consensus rating of “Hold” and an average price target of $27.33.



In other nVent Electric news, Director Michael L. Ducker purchased 2,000 shares of nVent Electric stock in a transaction dated Wednesday, May 22nd. The stock was purchased at an average price of $24.07 per share, with a total value of $48,140.00. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Trian Fund Management, L.P. sold 3,000,000 shares of the stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $24.53, for a total transaction of $73,590,000.00. The disclosure for this sale can be found here. Insiders have bought a total of 9,000 shares of company stock valued at $195,610 in the last ninety days. Insiders own 1.60% of the company’s stock.

NYSE NVT opened at $21.00 on Wednesday. nVent Electric PLC has a 52 week low of $19.71 and a 52 week high of $29.65. The stock has a market cap of $3.59 billion, a price-to-earnings ratio of 12.07 and a beta of 1.54. The company has a quick ratio of 1.25, a current ratio of 1.87 and a debt-to-equity ratio of 0.41. The company’s 50-day simple moving average is $23.93.

nVent Electric (NYSE:NVT) last released its quarterly earnings results on Thursday, August 1st. The company reported $0.44 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.44. nVent Electric had a net margin of 11.43% and a return on equity of 11.69%. The firm had revenue of $539.50 million during the quarter, compared to analyst estimates of $550.75 million. During the same quarter in the prior year, the firm earned $0.44 EPS. The business’s revenue for the quarter was down .6% compared to the same quarter last year. As a group, analysts forecast that nVent Electric PLC will post 1.79 EPS for the current fiscal year.

nVent Electric Company Profile

nVent Electric plc designs, manufactures, markets, installs, and services electrical connection and protection products in the United States, Canada, Mexico, Europe, the Middle East, Africa, and internationally. The company operates through three segments: Enclosures, Thermal Management, and Electrical & Fastening Solutions.

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Institutional Ownership by Quarter for nVent Electric (NYSE:NVT)

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