FDx Advisors Inc. Cuts Position in nVent Electric plc (NYSE:NVT)

FDx Advisors Inc. decreased its position in shares of nVent Electric plc (NYSE:NVT) by 41.9% during the second quarter, HoldingsChannel reports. The firm owned 2,688 shares of the company’s stock after selling 1,937 shares during the period. FDx Advisors Inc.’s holdings in nVent Electric were worth $206,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Signaturefd LLC grew its holdings in shares of nVent Electric by 22.0% in the second quarter. Signaturefd LLC now owns 860 shares of the company’s stock worth $66,000 after purchasing an additional 155 shares during the last quarter. FinTrust Capital Advisors LLC grew its holdings in nVent Electric by 17.5% in the 4th quarter. FinTrust Capital Advisors LLC now owns 1,056 shares of the company’s stock worth $62,000 after acquiring an additional 157 shares during the last quarter. HMS Capital Management LLC increased its position in shares of nVent Electric by 3.2% in the first quarter. HMS Capital Management LLC now owns 5,837 shares of the company’s stock valued at $440,000 after acquiring an additional 183 shares during the period. Private Advisor Group LLC raised its stake in shares of nVent Electric by 3.2% during the fourth quarter. Private Advisor Group LLC now owns 6,216 shares of the company’s stock valued at $367,000 after acquiring an additional 191 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of nVent Electric by 16.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,736 shares of the company’s stock worth $103,000 after purchasing an additional 247 shares during the period. Institutional investors own 90.05% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on NVT. KeyCorp raised nVent Electric from a “sector weight” rating to an “overweight” rating and set a $80.00 price target for the company in a research report on Wednesday. Royal Bank of Canada decreased their target price 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, Barclays lifted their price target on shares of nVent Electric from $85.00 to $95.00 and gave the company an “overweight” rating in a report on Tuesday, June 4th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $86.50.

Insiders Place Their Bets

In related news, Director Herbert K. Parker purchased 7,566 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were purchased at an average cost of $65.71 per share, with a total value of $497,161.86. Following the transaction, the director now directly owns 34,524 shares in the company, valued at approximately $2,268,572.04. The purchase was disclosed in a document filed with the SEC, which is available through this link. In other news, insider Michael B. Faulconer sold 20,004 shares of the firm’s stock in a transaction 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 completion of the transaction, the insider now directly owns 19,766 shares in the company, valued at $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 company’s 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 purchase, 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. Corporate insiders own 2.50% of the company’s stock.

nVent Electric Trading Down 1.1 %

NYSE NVT opened at $62.13 on Friday. The firm has a market capitalization of $10.31 billion, a PE ratio of 18.11, a P/E/G ratio of 1.30 and a beta of 1.27. The stock’s 50 day moving average is $69.93 and its 200 day moving average is $73.35. nVent Electric plc has a twelve month low of $45.60 and a twelve month high of $86.57. The company has a quick ratio of 1.49, a current ratio of 2.17 and a debt-to-equity ratio of 0.53.

nVent Electric (NYSE:NVT) last announced its earnings results on Tuesday, August 6th. The company reported $0.82 EPS for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.01). The business 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 16.59% and a return on equity of 17.21%. The business’s quarterly revenue was up 9.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.77 EPS. Research analysts forecast that nVent Electric plc will post 3.26 earnings per share for the current fiscal 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.