Americana Partners LLC Increases Share Position in nVent Electric plc (NYSE:NVT)

Americana Partners LLC boosted its position in nVent Electric plc (NYSE:NVT – Free Report) by 21.8% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,004 shares of the company’s stock after purchasing an additional 894 shares during the quarter. Americana Partners LLC’s holdings in nVent Electric were worth $383,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Banque Cantonale Vaudoise purchased a new position in shares of nVent Electric in the first quarter valued at $26,000. Livelsberger Financial Advisory purchased a new position in shares of nVent Electric in the fourth quarter valued at $28,000. ORG Partners LLC purchased a new position in shares of nVent Electric in the second quarter valued at $31,000. Rise Advisors LLC acquired a new position in shares of nVent Electric in the first quarter valued at $32,000. Finally, Smithfield Trust Co raised its stake in shares of nVent Electric by 650.0% in the fourth quarter. Smithfield Trust Co now owns 630 shares of the company’s stock valued at $36,000 after purchasing an additional 546 shares during the period. 90.05% of the shares are currently held by hedge funds and other institutional investors.

Insider buying and selling

In related news, Director Herbert K. Parker purchased 7,566 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was bought at an average cost of $65.71 per share, for a total transaction of $497,161.86. Following the completion of the acquisition, the director now owns 34,524 shares of the company’s stock, valued at approximately $2,268,572.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed via this hyperlink. In other news, Director Herbert K. Parker purchased 7,566 shares of the business’s stock in a transaction dated 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 transaction, the director now owns 34,524 shares in the company, valued at $2,268,572.04. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible via this link. Also, insider Michael B. Faulconer sold 20,004 shares of nVent Electric stock in a transaction that occurred 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 sale, the insider now directly owns 19,766 shares in the company, valued at approximately $1,251,978.44. The disclosure for this sale can be found here. 2.50% of shares are owned by company insiders.

The Wall Street analyst weighs in

NVT has been the subject of several recent analyst reports. Barclays raised their price objective on shares of nVent Electric from $85.00 to $95.00 and gave the stock an “overweight” rating in a report on Tuesday, June 4th. Royal Bank of Canada cut their price target on nVent Electric from $88.00 to $82.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. Goldman Sachs Group boosted their price objective on nVent Electric from $77.00 to $87.00 and gave the company a “buy” rating in a research note on Monday, May 6th. Finally, Citigroup lifted their price target on nVent Electric from $91.00 to $92.00 and gave the stock a “buy” rating in a research report on Monday, May 6th. Five analysts have rated the stock with a buy rating. The stock has an average rating of “Buy” and a consensus price target of $87.80, based on data from MarketBeat.

See the latest stock report on NVT

nVent Electric price performance

Shares of NYSE:NVT opened at $67.96 on Friday. The company has a market cap of $11.30 billion, a PE ratio of 19.81, a P/E/G ratio of 1.30 and a beta of 1.31. nVent Electric plc has a fifty-two week low of $45.60 and a fifty-two week high of $86.57. The firm has a 50-day simple moving average of $70.96 and a 200-day simple moving average of $73.33. 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 – Get Your Free Report ) last posted 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). The company had revenue of $880.30 million during the quarter, compared to analyst estimates of $892.89 million. nVent Electric had a net margin of 16.59% and a return on equity of 17.21%. The company’s revenue increased by 9.6% year-on-year. In the same quarter last year, the company earned $0.77 per share. On average, sell-side analysts anticipate that nVent Electric plc will post 3.26 EPS for the current year.

About nVent Electric

(Free report)

nVent Electric plc, together with its subsidiaries, designs, manufactures, markets, installs and provides electrical connection and protection solutions in North America, Europe, the Middle East, Africa, Asia Pacific and internationally. The company operates through three segments: enclosures, electrical and fastening solutions, and thermal management.

See Also

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