Lombard Odier Asset Management Europe Ltd Cuts Stock Holdings in nVent Electric plc (NYSE:NVT)

Lombard Odier Asset Management Europe Ltd trimmed its stake in shares of nVent Electric plc (NYSE:NVT) by 24.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 104,854 shares of the company’s stock after selling 33,919 shares during the quarter. Lombard Odier Asset Management Europe Ltd’s holdings in nVent Electric were worth $8,033,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Wells Fargo & Company MN increased its stake in shares of nVent Electric by 1.8% during the fourth quarter. Wells Fargo & Company MN now owns 936,568 shares of the company’s stock worth $55,342,000 after buying an additional 16,911 shares during the period. D.A. Davidson & CO. increased its position in shares of nVent Electric by 4.6% in the 4th quarter. D.A. Davidson & CO. now owns 29,135 shares of the company’s stock valued at $1,722,000 after purchasing an additional 1,278 shares during the last quarter. Assetmark Inc. raised its holdings in shares of nVent Electric by 60.5% in the 4th quarter. Assetmark Inc. now owns 15,706 shares of the company’s stock valued at $928,000 after purchasing an additional 5,919 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of nVent Electric by 16.6% during the 4th 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 last quarter. Finally, Cambridge Investment Research Advisors Inc. grew its stake in shares of nVent Electric by 200.9% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 26,827 shares of the company’s stock worth $1,585,000 after purchasing an additional 17,910 shares in the last quarter. 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 firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were purchased at an average cost of $65.71 per share, for a total transaction of $497,161.86. Following the completion of the purchase, the director now directly owns 34,524 shares in the company, valued at $2,268,572.04. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, EVP Lynnette R. Heath sold 8,242 shares of the business’s stock in a transaction 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 directly owns 30,432 shares of the company’s stock, valued at $1,833,832.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Herbert K. Parker acquired 7,566 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were bought at an average cost of $65.71 per share, for a total transaction 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 disclosure for this purchase can be found here. 2.50% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Barclays raised 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. KeyCorp upgraded 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 research note on Wednesday, September 4th. Finally, Royal Bank of Canada cut their price target on shares of nVent Electric from $88.00 to $82.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $86.50.

nVent Electric Price Performance

Shares of NVT opened at $70.46 on Monday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.49 and a current ratio of 2.17. nVent Electric plc has a fifty-two week low of $45.60 and a fifty-two week high of $86.57. The firm has a 50-day simple moving average of $67.42 and a 200-day simple moving average of $73.38. The company has a market capitalization of $11.70 billion, a price-to-earnings ratio of 20.54, a price-to-earnings-growth ratio of 1.22 and a beta of 1.27.

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). The firm had revenue of $880.30 million during the quarter, compared to analysts’ expectations of $892.89 million. nVent Electric had a net margin of 16.59% and a return on equity of 17.21%. The firm’s revenue was up 9.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.77 EPS. On average, equities research analysts anticipate that nVent Electric plc will post 3.26 earnings per share for the current year.

nVent Electric 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.