Brasada Capital Management LP Purchases 6,000 Shares of nVent Electric plc (NYSE:NVT)

Brasada Capital Management LP lifted its holdings in nVent Electric plc (NYSE:NVT) by 120.0% during the second quarter, Holdings Channel.com reports. The institutional investor owned 11,000 shares of the company’s stock after acquiring an additional 6,000 shares during the quarter. Brasada Capital Management LP’s holdings in nVent Electric were worth $843,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of NVT. Banque Cantonale Vaudoise bought a new position in nVent Electric in the 1st quarter valued at $26,000. Livelsberger Financial Advisory purchased a new position in shares of nVent Electric in the 4th quarter worth about $28,000. ORG Partners LLC bought a new position in nVent Electric during the second quarter valued at about $31,000. Rise Advisors LLC purchased a new stake in nVent Electric during the first quarter worth about $32,000. Finally, First Foundation Advisors purchased a new position in nVent Electric in the second quarter valued at about $34,000. 90.05% of the stock is owned by institutional investors.

nVent Electric Price Performance

nVent Electric stock opened at $62.19 on Wednesday. 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 one year low of $45.60 and a one year high of $86.57. The firm has a market capitalization of $10.34 billion, a P/E ratio of 18.13, a PEG ratio of 1.18 and a beta of 1.27. The business has a fifty day moving average price of $69.10 and a 200-day moving average price of $73.43.

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

Insiders Place Their Bets

In other news, Director Herbert K. Parker purchased 7,566 shares of nVent Electric stock in a transaction dated Thursday, August 15th. The stock was purchased at an average cost of $65.71 per share, for a total transaction of $497,161.86. Following the transaction, the director now directly owns 34,524 shares of the company’s stock, valued at $2,268,572.04. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, EVP Lynnette R. Heath sold 8,242 shares of nVent Electric stock in a transaction dated Wednesday, August 7th. The stock was 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 in the company, valued at approximately $1,833,832.32. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Herbert K. Parker acquired 7,566 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The stock was bought 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 of the company’s stock, valued at approximately $2,268,572.04. The disclosure for this purchase can be found here. Corporate insiders own 2.50% of the company’s stock.

Analysts Set New Price Targets

NVT has been the subject of several research analyst reports. Royal Bank of Canada decreased 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. Barclays boosted their target price on nVent Electric from $85.00 to $95.00 and gave the company an “overweight” rating in a research note on Tuesday, June 4th. Finally, KeyCorp upgraded 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, September 4th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, nVent Electric has a consensus rating of “Buy” and a consensus target price of $86.50.

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.