Cambridge Investment Research Advisors Inc. Has $1.26 Million Holdings in nVent Electric plc (NYSE:NVT)

Cambridge Investment Research Advisors Inc. lowered its stake in shares of nVent Electric plc (NYSE:NVT) by 39.7% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 16,446 shares of the company’s stock after selling 10,829 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in nVent Electric were worth $1,260,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Boston Partners boosted its position in shares of nVent Electric by 3.2% during the first quarter. Boston Partners now owns 3,325,834 shares of the company’s stock valued at $250,770,000 after buying an additional 102,643 shares during the last quarter. Clean Energy Transition LLP grew its stake in shares of nVent Electric by 1.6% in the 4th quarter. Clean Energy Transition LLP now owns 2,540,545 shares of the company’s stock worth $150,121,000 after acquiring an additional 39,169 shares in the last quarter. Congress Asset Management Co. MA raised 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 valued at $167,338,000 after purchasing an additional 26,897 shares during the last quarter. Norges Bank bought a new position in shares of nVent Electric during the fourth quarter valued at about $109,630,000. Finally, Fiduciary Management Inc. WI boosted its holdings in nVent Electric by 1.8% during 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 last quarter. 90.05% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

NVT has been the subject of several analyst reports. Barclays increased their price objective on shares of nVent Electric from $85.00 to $95.00 and gave the company an “overweight” rating in a research note on Tuesday, June 4th. 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. Finally, Royal Bank of Canada dropped their price target on 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, According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $86.50.

nVent Electric Price Performance

nVent Electric stock opened at $62.85 on Thursday. The business’s 50 day simple moving average is $70.21 and its 200 day simple moving average is $73.43. nVent Electric plc has a 12 month low of $45.60 and a 12 month high of $86.57. The company has a market cap of $10.43 billion, a price-to-earnings ratio of 18.32, a PEG ratio of 1.30 and a beta of 1.27. The company has a current ratio of 2.17, a quick ratio of 1.49 and a debt-to-equity ratio of 0.53.

nVent Electric (NYSE:NVT) last issued its quarterly 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). nVent Electric had a net margin of 16.59% and a return on equity of 17.21%. The firm had revenue of $880.30 million for the quarter, compared to analysts’ expectations of $892.89 million. During the same period in the prior year, the company earned $0.77 EPS. The firm’s quarterly revenue was up 9.6% on a year-over-year basis. Sell-side analysts forecast that nVent Electric plc will post 3.26 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Lynnette R. Heath sold 8,242 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $60.26, for a total value of $496,662.92. Following the sale, the executive vice president now 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 the SEC website. In other nVent Electric news, insider Michael B. Faulconer sold 20,004 shares of the 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 sale, the insider now 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 available at this hyperlink. Also, EVP Lynnette R. Heath sold 8,242 shares of nVent Electric stock in a transaction on Wednesday, August 7th. The shares were 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 owns 30,432 shares of the company’s stock, valued at $1,833,832.32. The disclosure for this sale can be found here. Company insiders own 2.50% of the company’s stock.

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.