Custom Index Systems LLC Sells 1,940 Shares of nVent Electric plc (NYSE:NVT)

Custom Index Systems LLC reduced its stake in nVent Electric plc (NYSE:NVT) by 21.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,987 shares of the company’s stock after selling 1,940 shares during the period. Custom Index Systems LLC’s holdings in nVent Electric were worth $535,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of NVT. Boston Partners increased its holdings in shares of nVent Electric by 3.2% in the 1st quarter. Boston Partners now owns 3,325,834 shares of the company’s stock worth $250,770,000 after buying an additional 102,643 shares during the last quarter. Clean Energy Transition LLP increased its holdings in shares of nVent Electric by 1.6% in the 4th quarter. Clean Energy Transition LLP now owns 2,540,545 shares of the company’s stock worth $150,121,000 after buying an additional 39,169 shares during the last quarter. Congress Asset Management Co. MA boosted its stake in shares of nVent Electric by 1.2% during the 1st quarter. Congress Asset Management Co. MA now owns 2,219,332 shares of the company’s stock worth $167,338,000 after purchasing an additional 26,897 shares during the period. Norges Bank purchased a new position in shares of nVent Electric during the 4th quarter worth about $109,630,000. Finally, Fiduciary Management Inc. WI boosted its stake in shares of 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 purchasing an additional 31,621 shares during the period. 90.05% of the stock is currently owned by institutional investors.

nVent Electric Price Performance

nVent Electric stock opened at $61.63 on Friday. The stock has a market cap of $10.23 billion, a price-to-earnings ratio of 17.97, a price-to-earnings-growth ratio of 1.30 and a beta of 1.27. 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 1 year low of $45.60 and a 1 year high of $86.57. The firm has a 50-day moving average of $69.63 and a two-hundred day moving average of $73.41.

nVent Electric (NYSE:NVT) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.83 by ($0.01). The company had revenue of $880.30 million during 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 quarterly revenue was up 9.6% on a year-over-year basis. During the same period last year, the firm earned $0.77 earnings per share. On average, research analysts forecast that nVent Electric plc will post 3.26 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently 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 for the company in a research note on Wednesday, August 7th. 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 note on Wednesday. Finally, 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. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $86.50.

Insider Transactions at nVent Electric

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

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.