Oppenheimer & Co. Inc. Increases Holdings in nVent Electric plc (NYSE:NVT)

Oppenheimer & Co. Inc. raised its stake in shares of nVent Electric plc (NYSE:NVT) by 5.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 22,611 shares of the company’s stock after buying an additional 1,092 shares during the period. Oppenheimer & Co. Inc.’s holdings in nVent Electric were worth $1,732,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Banque Cantonale Vaudoise purchased a new stake in shares of nVent Electric in the 1st quarter worth $26,000. ORG Partners LLC purchased a new stake in shares of nVent Electric in the 2nd quarter worth $31,000. Rise Advisors LLC purchased a new stake in shares of nVent Electric in the 1st quarter worth $32,000. First Foundation Advisors purchased a new stake in shares of nVent Electric in the 2nd quarter worth $34,000. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in shares of nVent Electric in the 2nd quarter worth $34,000. 90.05% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at nVent Electric

In other nVent Electric news, insider Michael B. Faulconer sold 20,004 shares of the 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 transaction, the insider now owns 19,766 shares of the company’s stock, valued at approximately $1,251,978.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other nVent Electric 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 transaction, the executive vice president now owns 30,432 shares of the company’s stock, valued at approximately $1,833,832.32. The transaction was disclosed in a legal 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 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 transaction, the insider now directly owns 19,766 shares of the company’s stock, valued at approximately $1,251,978.44. The disclosure for this sale can be found here. Insiders own 2.50% of the company’s stock.

nVent Electric Trading Up 1.2 %

Shares of nVent Electric stock opened at $66.56 on Wednesday. The company has a market capitalization of $11.05 billion, a P/E ratio of 19.41, a P/E/G ratio of 1.22 and a beta of 1.27. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.49 and a current ratio of 2.17. The company has a fifty day moving average of $67.96 and a 200 day moving average of $73.38. nVent Electric plc has a fifty-two week low of $45.60 and a fifty-two week high of $86.57.

nVent Electric (NYSE:NVT) last issued its earnings results on Tuesday, August 6th. The company reported $0.82 earnings per share for the quarter, missing the consensus estimate of $0.83 by ($0.01). nVent Electric had a return on equity of 17.21% and a net margin of 16.59%. The firm had revenue of $880.30 million during the quarter, compared to the consensus estimate of $892.89 million. During the same period in the prior year, the company posted $0.77 EPS. The company’s quarterly revenue was up 9.6% on a year-over-year basis. On average, sell-side analysts anticipate that nVent Electric plc will post 3.26 earnings per share for the current fiscal year.

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.