Federated Hermes Inc. Acquires 25,482 Shares of nVent Electric plc (NYSE:NVT)

Federated Hermes Inc. raised its holdings in shares of nVent Electric plc (NYSE:NVT) by 6.6% during the second quarter, HoldingsChannel reports. The fund owned 410,902 shares of the company’s stock after purchasing an additional 25,482 shares during the quarter. Federated Hermes Inc.’s holdings in nVent Electric were worth $31,479,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Boston Partners raised its holdings in nVent Electric by 3.2% during the 1st quarter. Boston Partners now owns 3,325,834 shares of the company’s stock valued at $250,770,000 after acquiring an additional 102,643 shares during the period. Clean Energy Transition LLP raised its holdings in nVent Electric by 1.6% during the 4th quarter. Clean Energy Transition LLP now owns 2,540,545 shares of the company’s stock valued at $150,121,000 after acquiring an additional 39,169 shares during the period. Congress Asset Management Co. MA increased its holdings in shares of nVent Electric by 1.2% in 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 during the period. Norges Bank bought a new position in shares of nVent Electric in the fourth quarter worth $109,630,000. Finally, Fiduciary Management Inc. WI increased its holdings in shares of nVent Electric by 1.8% in the fourth quarter. Fiduciary Management Inc. WI now owns 1,772,270 shares of the company’s stock worth $104,723,000 after purchasing an additional 31,621 shares during the period. Institutional investors own 90.05% of the company’s stock.

nVent Electric Stock Up 2.0 %

NVT opened at $65.83 on Friday. The stock has a market cap of $10.93 billion, a PE ratio of 19.19, a P/E/G ratio of 1.22 and a beta of 1.27. 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 plc has a 52 week low of $45.60 and a 52 week high of $86.57. The business’s fifty day simple moving average is $68.37 and its 200 day simple moving average is $73.35.

nVent Electric (NYSE:NVT) last posted its quarterly earnings results 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). nVent Electric had a net margin of 16.59% and a return on equity of 17.21%. The business had revenue of $880.30 million for the quarter, compared to analysts’ expectations of $892.89 million. During the same quarter in the previous year, the company earned $0.77 earnings per share. The business’s quarterly revenue was up 9.6% on a year-over-year basis. As a group, research analysts expect that nVent Electric plc will post 3.26 earnings per share for the current fiscal year.

Insider Buying and Selling at nVent Electric

In other nVent Electric news, insider Michael B. Faulconer sold 20,004 shares of the company’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $63.34, for a total transaction of $1,267,053.36. Following the completion of the sale, the insider now directly owns 19,766 shares in the company, valued at $1,251,978.44. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, EVP Lynnette R. Heath sold 8,242 shares of the stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $60.26, for a total transaction of $496,662.92. Following the completion of the sale, the executive vice president now directly owns 30,432 shares in the company, valued at $1,833,832.32. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Michael B. Faulconer sold 20,004 shares of the stock in a transaction dated 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 $1,251,978.44. The disclosure for this sale can be found here. Company insiders own 2.50% of the company’s stock.

Analyst Ratings Changes

NVT has been the topic of several research analyst reports. KeyCorp raised shares of nVent Electric from a “sector weight” rating to an “overweight” rating and set a $80.00 price target on the stock in a report on Wednesday, September 4th. Barclays upped their price target on shares of nVent Electric from $85.00 to $95.00 and gave the stock an “overweight” rating in a report on Tuesday, June 4th. Finally, Royal Bank of Canada decreased their price target on shares of nVent Electric from $88.00 to $82.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, nVent Electric currently has a consensus rating of “Buy” and an average target price of $86.50.

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.