nVent Electric plc (NYSE:NVT) Shares Acquired by SeaBridge Investment Advisors LLC

SeaBridge Investment Advisors LLC lifted its holdings in nVent Electric plc (NYSE:NVT) by 36.0% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 100,816 shares of the company’s stock after purchasing an additional 26,702 shares during the period. nVent Electric makes up 2.0% of SeaBridge Investment Advisors LLC’s holdings, making the stock its 11th biggest holding. SeaBridge Investment Advisors LLC owned approximately 0.06% of nVent Electric worth $7,724,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Boston Partners increased its stake in shares of nVent Electric by 3.2% during the first 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 period. Clean Energy Transition LLP lifted its position in shares of nVent Electric by 1.6% during the 4th quarter. Clean Energy Transition LLP now owns 2,540,545 shares of the company’s stock worth $150,121,000 after purchasing an additional 39,169 shares during the last quarter. Congress Asset Management Co. MA grew its stake in shares of nVent Electric by 1.2% during the first 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 in the last quarter. Norges Bank purchased a new position in nVent Electric in the fourth quarter valued at $109,630,000. Finally, Fiduciary Management Inc. WI raised its stake in nVent Electric by 1.8% in the fourth quarter. Fiduciary Management Inc. WI now owns 1,772,270 shares of the company’s stock valued at $104,723,000 after buying an additional 31,621 shares in the last quarter. 90.05% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently commented on NVT. The Goldman Sachs Group increased their price objective on nVent Electric from $77.00 to $87.00 and gave the company a “buy” rating in a report on Monday, May 6th. Barclays raised their price target on nVent Electric from $85.00 to $95.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 4th. Royal Bank of Canada decreased their price objective on nVent Electric from $88.00 to $82.00 and set an “outperform” rating for the company in a report on Wednesday, August 7th. Finally, Citigroup lifted their target price on shares of nVent Electric from $91.00 to $92.00 and gave the company a “buy” rating in a report on Monday, May 6th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, nVent Electric currently has a consensus rating of “Buy” and an average price target of $87.80.

Insider Activity at nVent Electric

In other nVent Electric news, Director Herbert K. Parker bought 7,566 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was acquired 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. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, insider Michael B. Faulconer sold 20,004 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $63.34, for a total transaction of $1,267,053.36. Following the sale, the insider now owns 19,766 shares of the company’s stock, valued at approximately $1,251,978.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Herbert K. Parker purchased 7,566 shares of the stock in a transaction that occurred on 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 acquisition, 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. 2.50% of the stock is owned by insiders.

nVent Electric Stock Performance

Shares of NYSE:NVT traded up $1.38 during trading on Friday, reaching $67.96. The company had a trading volume of 1,368,428 shares, compared to its average volume of 2,188,540. nVent Electric plc has a fifty-two week low of $45.60 and a fifty-two week 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’s fifty day moving average price is $70.96 and its 200 day moving average price is $73.33. The firm has a market capitalization of $11.30 billion, a price-to-earnings ratio of 19.81, a price-to-earnings-growth ratio of 1.30 and a beta of 1.31.

nVent Electric (NYSE:NVT) last announced 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 firm 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 business’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.77 earnings per share. As a group, equities research analysts predict that nVent Electric plc will post 3.26 EPS for the current year.

nVent Electric 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.