Natural Investments LLC lessened its stake in shares of nVent Electric PLC (NYSE:NVT – Free Report) by 83.9% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,810 shares of the company’s stock after selling 9,438 shares during the quarter. Natural Investments LLC’s holdings in nVent Electric were worth $307,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. Elevation Wealth Partners LLC lifted its position in nVent Electric by 554.5% during the second quarter. Elevation Wealth Partners LLC now owns 216 shares of the company’s stock valued at $37,000 after purchasing an additional 183 shares during the period. Financial Consulate Inc. grew its position in nVent Electric by 1,431.2% in the 2nd quarter. Financial Consulate Inc. now owns 245 shares of the company’s stock worth $42,000 after purchasing an additional 229 shares during the period. Manchester Capital Management LLC grew its position in nVent Electric by 128.1% in the 4th quarter. Manchester Capital Management LLC now owns 308 shares of the company’s stock worth $31,000 after purchasing an additional 173 shares during the period. Cullen Frost Bankers Inc. purchased a new stake in nVent Electric during the 4th quarter valued at $32,000. Finally, Elyxium Wealth LLC purchased a new stake in nVent Electric during the 4th quarter valued at $36,000. 90.05% of the stock is currently owned by institutional investors.
nVent Electric Trading Up 0.4%
Shares of nVent Electric stock opened at $147.96 on Thursday. The company’s fifty day simple moving average is $157.64 and its 200-day simple moving average is $146.79. The stock has a market capitalization of $23.95 billion, a PE ratio of 40.43, a P/E/G ratio of 1.24 and a beta of 1.36. nVent Electric PLC has a 1-year low of $88.52 and a 1-year high of $184.64. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.80 and a quick ratio of 1.33.
nVent Electric announced that its board has approved a share repurchase program on Saturday, May 16th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 1.8% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its shares are undervalued.
Insider Buying and Selling at nVent Electric
In other news, insider Der Kolk Robert J. Van sold 5,858 shares of the firm’s stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $164.32, for a total value of $962,586.56. Following the transaction, the insider owned 27,387 shares of the company’s stock, valued at $4,500,231.84. This trade represents a 17.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Beth Wozniak sold 46,261 shares of nVent Electric stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $164.42, for a total value of $7,606,233.62. Following the transaction, the chief executive officer directly owned 55,612 shares in the company, valued at approximately $9,143,725.04. The trade was a 45.41% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 74,644 shares of company stock valued at $12,276,886. Company insiders own 1.70% of the company’s stock.
Analyst Upgrades and Downgrades
NVT has been the topic of a number of research reports. Evercore restated an “outperform” rating and issued a $210.00 price target on shares of nVent Electric in a research note on Monday, August 3rd. Weiss Ratings cut nVent Electric from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday. UBS Group reissued a “buy” rating on shares of nVent Electric in a report on Tuesday, August 25th. Seaport Research Partners reissued a “buy” rating and issued a $215.00 target price on shares of nVent Electric in a research report on Monday, August 3rd. Finally, Roth Capital restated a “buy” rating and set a $210.00 price target (up from $195.00) on shares of nVent Electric in a research note on Tuesday, August 25th. Three investment analysts have rated the stock with a Strong Buy rating and fourteen have given a Buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $199.86.
nVent Electric Profile
nVent Electric PLC is a global manufacturer of electrical connection, protection and thermal management solutions. The company designs, engineers and produces a broad portfolio of products aimed at enhancing safety, reliability and performance in electrical systems across a variety of industries. Its core offerings include electrical enclosures, heat tracing systems, grounding and bonding products, cable management, and fastening solutions. nVent serves markets such as commercial and industrial construction, oil and gas, telecommunications, data centers, utilities, and renewable energy.
The company’s electrical enclosures and housing solutions protect sensitive components from environmental hazards, while its Raychem brand heat tracing products provide freeze protection and temperature maintenance for critical piping and equipment.
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