Great Lakes Advisors LLC Reduces Share Holdings in nVent Electric plc (NYSE:NVT)

VaselineSeptember 8, 2024

0 4 minutes read

Great Lakes Advisors LLC cut its stake in nVent Electric plc (NYSE:NVT – Free Report) by 3.9% during the 2nd quarter, Holdings Channel.com reports. The firm owned 189,271 shares of the company’s stock after selling 7,755 shares during the quarter. Great Lakes Advisors LLC’s holdings in nVent Electric were worth $14,500,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC purchased a new position in nVent Electric in the fourth quarter valued at $821,000. National Bank of Canada FI increased its position in nVent Electric by 415.6% during the 4th quarter. National Bank of Canada FI now owns 48,283 shares of the company’s stock valued at $2,806,000 after buying an additional 38,918 shares shares in the last quarter. Private Advisor Group LLC boosted its stake in nVent Electric by 3.2% in the fourth quarter. Private Advisor Group LLC now owns 6,216 shares of the company’s stock valued at $367,000 after purchasing an additional 191 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in nVent Electric by 2.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,021,311 shares of the company’s stock worth $60,349,000 after purchasing an additional 20,666 shares in the last quarter. Finally, Principal Securities Inc. purchased a new stake in nVent Electric in the fourth quarter valued at approximately $1,221,000. Hedge funds and other institutional investors own 90.05% of the company’s shares.

Analyst upgrades and downgrades

Several analysts have weighed in on NVT shares. 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 report on Wednesday. Royal Bank of Canada decreased their price objective on shares of nVent Electric from $88.00 to $82.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. Finally, Barclays upped their target price on nVent Electric from $85.00 to $95.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 4th. Six investment analysts have rated the stock with a buy rating. The company currently has a consensus rating of “Buy” and an average target price of $86.50, according to MarketBeat.com.

Want more great investment ideas?

Get the latest stock report on NVT

nVent Electric trading down 0.8%

Shares of nVent Electric stock opened at $61.63 on Friday. nVent Electric plc has a 1 year low of $45.60 and a 1 year high of $86.57. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.17, and a quick ratio of 1.49. The stock has a market cap of $10.23 billion, a PE ratio of 17.97, a price-to-earnings-growth ratio of 1.30 and a beta of 1.27. The firm has a fifty day moving average price of $69.63 and a 200 day moving average price of $73.41.

nVent Electric (NYSE:NVT – Get Your Free Report ) last issued 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 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 quarterly revenue was up 9.6% compared to the same quarter last year. During the same period last year, the firm earned $0.77 EPS. equities research analysts predict that nVent Electric plc will post 3.26 earnings per share for the current year.

Indoor activity

In other news, Director Herbert K. Parker acquired 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 completion of the transaction, the director now owns 34,524 shares in the company, valued at approximately $2,268,572.04. The acquisition was disclosed in a legal filing with the SEC, which can be accessed via this link. In other news, EVP Lynnette R. Heath sold 8,242 shares of the stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $60.26, for a total transaction of $496,662.92. Following the transaction, the executive vice president now owns 30,432 shares in the company, valued at approximately $1,833,832.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Herbert K. Parker acquired 7,566 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were bought at an average cost 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 approximately $2,268,572.04. Disclosure for this purchase can be found here. Insiders own 2.50% of the company’s shares.

nVent Electric Company Profile

(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.