Atria Wealth Solutions Inc. Decreases Stock Holdings in nVent Electric plc (NYSE:NVT)

Atria Wealth Solutions Inc. decreased its holdings in nVent Electric plc (NYSE:NVT) by 16.2% in the second quarter, Holdings Channel.com reports. The institutional investor owned 10,181 shares of the company’s stock after selling 1,968 shares during the period. Atria Wealth Solutions Inc.’s holdings in nVent Electric were worth $780,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of NVT. Norges Bank purchased a new position in nVent Electric in the 4th quarter worth about $109,630,000. Balyasny Asset Management L.P. grew its stake in shares of nVent Electric by 201.9% during the 4th quarter. Balyasny Asset Management L.P. now owns 1,401,285 shares of the company’s stock valued at $82,802,000 after purchasing an additional 937,149 shares during the period. Schroder Investment Management Group bought a new stake in shares of nVent Electric during the 4th quarter valued at about $51,781,000. Goldman Sachs Group Inc. grew its stake in shares of nVent Electric by 50.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,633,421 shares of the company’s stock valued at $96,519,000 after purchasing an additional 547,624 shares during the period. Finally, Public Employees Retirement Association of Colorado grew its stake in shares of nVent Electric by 2,475.4% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 558,714 shares of the company’s stock valued at $33,014,000 after purchasing an additional 537,020 shares during the period. Hedge funds and other institutional investors own 90.05% of the company’s stock.

Insiders Place Their Bets

In other nVent Electric news, Director Herbert K. Parker purchased 7,566 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was acquired at an average cost of $65.71 per share, for a total transaction of $497,161.86. Following the purchase, the director now directly owns 34,524 shares of the company’s stock, valued at approximately $2,268,572.04. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other nVent Electric news, Director Herbert K. Parker purchased 7,566 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was acquired at an average cost of $65.71 per share, for a total transaction of $497,161.86. Following the purchase, the director now directly owns 34,524 shares of the company’s stock, valued at approximately $2,268,572.04. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Lynnette R. Heath sold 8,242 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $60.26, for a total value of $496,662.92. Following the completion of the transaction, the executive vice president now owns 30,432 shares of the company’s stock, valued at $1,833,832.32. The disclosure for this sale can be found here. 2.50% of the stock is currently owned by corporate insiders.

nVent Electric Trading Up 3.2 %

Shares of NYSE:NVT opened at $67.45 on Monday. The stock has a 50 day moving average of $72.20 and a 200 day moving average of $73.37. The company has a market cap of $11.20 billion, a PE ratio of 19.66, a price-to-earnings-growth ratio of 1.52 and a beta of 1.31. The company has a current ratio of 1.99, a quick ratio of 1.35 and a debt-to-equity ratio of 0.54. nVent Electric plc has a 12-month low of $45.60 and a 12-month high of $86.57.

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 analysts’ consensus estimates of $0.83 by ($0.01). The company had revenue of $880.30 million for the quarter, compared to the consensus estimate of $892.89 million. nVent Electric had a net margin of 17.02% and a return on equity of 17.47%. The company’s revenue was up 9.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.77 earnings per share. As a group, equities research analysts expect that nVent Electric plc will post 3.27 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on NVT shares. The Goldman Sachs Group boosted their price target on nVent Electric from $77.00 to $87.00 and gave the company a “buy” rating in a research note on Monday, May 6th. Citigroup boosted their price target on nVent Electric from $91.00 to $92.00 and gave the company a “buy” rating in a research note on Monday, May 6th. 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. Finally, Barclays boosted their price target on nVent Electric from $85.00 to $95.00 and gave the company an “overweight” rating in a research note on Tuesday, June 4th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $87.80.

About nVent Electric

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.