Principal Financial Group Inc. Raises Stock Position in nVent Electric plc (NYSE:NVT)

Principal Financial Group Inc. raised its holdings in shares of nVent Electric plc (NYSE:NVT) by 2.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,734,378 shares of the company’s stock after acquiring an additional 42,391 shares during the quarter. Principal Financial Group Inc.’s holdings in nVent Electric were worth $132,869,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in NVT. Banque Cantonale Vaudoise bought a new stake in nVent Electric during the 1st quarter valued at approximately $26,000. ORG Partners LLC bought a new stake in shares of nVent Electric during the second quarter valued at approximately $31,000. Rise Advisors LLC purchased a new position in shares of nVent Electric in the first quarter worth $32,000. Livelsberger Financial Advisory bought a new position in shares of nVent Electric during the fourth quarter worth $28,000. Finally, Versant Capital Management Inc grew its stake in nVent Electric by 494.3% during the second quarter. Versant Capital Management Inc now owns 523 shares of the company’s stock valued at $40,000 after acquiring an additional 435 shares in the last quarter. Institutional investors own 90.05% of the company’s stock.

Insider Buying and Selling

In other news, Director Herbert K. Parker purchased 7,566 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was purchased 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 $2,268,572.04. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other nVent Electric news, Director Herbert K. Parker purchased 7,566 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The stock was purchased 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 of the company’s stock, valued at $2,268,572.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael B. Faulconer sold 20,004 shares of the company’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $63.34, for a total value of $1,267,053.36. Following the completion of the transaction, the insider now directly owns 19,766 shares in the company, valued at approximately $1,251,978.44. The disclosure for this sale can be found here. 2.50% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have commented on NVT. Citigroup boosted their price target on shares of nVent Electric from $91.00 to $92.00 and gave the stock a “buy” rating in a research note on Monday, May 6th. Royal Bank of Canada dropped 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. The Goldman Sachs Group lifted their price objective on nVent Electric from $77.00 to $87.00 and gave the stock a “buy” rating in a research note on Monday, May 6th. Finally, Barclays increased their target price on nVent Electric from $85.00 to $95.00 and gave the company an “overweight” rating in a research report on Tuesday, June 4th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, nVent Electric presently has an average rating of “Buy” and an average price target of $87.80.

nVent Electric Stock Up 2.0 %

Shares of NYSE:NVT opened at $67.93 on Friday. The company has a market cap of $11.28 billion, a price-to-earnings ratio of 19.80, a PEG ratio of 1.52 and a beta of 1.31. nVent Electric plc has a 12 month low of $45.60 and a 12 month high of $86.57. The company has a current ratio of 1.99, a quick ratio of 1.35 and a debt-to-equity ratio of 0.54. The company has a 50-day moving average price of $70.96 and a 200 day moving average price of $73.33.

nVent Electric (NYSE:NVT) last posted 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 the consensus estimate of $892.89 million. nVent Electric had a net margin of 17.02% and a return on equity of 17.47%. nVent Electric’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.77 earnings per share. As a group, equities research analysts predict that nVent Electric plc will post 3.27 earnings per share for the current year.

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.