United Services Automobile Association Has $992,000 Position in nVent Electric plc (NYSE:NVT)

United Services Automobile Association cut its position in shares of nVent Electric plc (NYSE:NVT) by 1.3% during the 2nd quarter, Holdings Channel reports. The firm owned 12,943 shares of the company’s stock after selling 169 shares during the quarter. United Services Automobile Association’s holdings in nVent Electric were worth $992,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of NVT. International Assets Investment Management LLC bought a new stake in nVent Electric in the 4th quarter valued at $821,000. Private Advisor Group LLC raised its position in shares of nVent Electric by 3.2% in the fourth quarter. Private Advisor Group LLC now owns 6,216 shares of the company’s stock valued at $367,000 after purchasing an additional 191 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of nVent Electric by 2.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,021,311 shares of the company’s stock worth $60,349,000 after buying an additional 20,666 shares during the last quarter. Jump Financial LLC boosted its holdings in shares of nVent Electric by 194.1% during the 4th quarter. Jump Financial LLC now owns 39,432 shares of the company’s stock worth $2,330,000 after buying an additional 26,024 shares during the period. Finally, QRG Capital Management Inc. acquired a new position in nVent Electric in the 4th quarter valued at about $200,000. 90.05% of the stock is owned by institutional investors.

Insider Buying and Selling at nVent Electric

In other news, Director Herbert K. Parker purchased 7,566 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was bought at an average price of $65.71 per share, with a total value of $497,161.86. Following the acquisition, the director now owns 34,524 shares in the company, valued at approximately $2,268,572.04. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Herbert K. Parker acquired 7,566 shares of the stock in a transaction on Thursday, August 15th. The stock was acquired at an average cost of $65.71 per share, for a total transaction of $497,161.86. Following the completion of the transaction, the director now directly owns 34,524 shares in the company, valued at $2,268,572.04. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Lynnette R. Heath sold 8,242 shares of the company’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 sale, 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. Insiders own 2.50% of the company’s stock.

nVent Electric Trading Up 0.3 %

Shares of NYSE:NVT opened at $62.19 on Wednesday. The business’s 50 day simple moving average is $69.10 and its 200 day simple moving average is $73.43. nVent Electric plc has a 1 year low of $45.60 and a 1 year high of $86.57. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.17 and a quick ratio of 1.49. The company has a market capitalization of $10.34 billion, a P/E ratio of 18.13, a P/E/G ratio of 1.18 and a beta of 1.27.

nVent Electric (NYSE:NVT) last released its 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 return on equity of 17.21% and a net margin of 16.59%. The company had revenue of $880.30 million for the quarter, compared to analyst estimates of $892.89 million. During the same period last year, the company posted $0.77 earnings per share. The business’s revenue for the quarter was up 9.6% compared to the same quarter last year. On average, research analysts anticipate that nVent Electric plc will post 3.26 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on NVT shares. Royal Bank of Canada cut their price objective on shares of nVent Electric from $88.00 to $82.00 and set an “outperform” rating for the company in a research report on Wednesday, August 7th. 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 report on Wednesday, September 4th. Finally, Barclays upped their price objective on nVent Electric from $85.00 to $95.00 and gave the company an “overweight” rating in a report on Tuesday, June 4th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, nVent Electric presently has an average rating of “Buy” and a consensus price target 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.