American Century Companies Inc. Sells 58,641 Shares of nVent Electric plc (NYSE:NVT)

American Century Companies Inc. lowered its stake in shares of nVent Electric plc (NYSE:NVT) by 43.3% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 76,883 shares of the company’s stock after selling 58,641 shares during the period. American Century Companies Inc.’s holdings in nVent Electric were worth $5,890,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Brasada Capital Management LP raised its stake in shares of nVent Electric by 120.0% during the 2nd quarter. Brasada Capital Management LP now owns 11,000 shares of the company’s stock worth $843,000 after purchasing an additional 6,000 shares in the last quarter. Headlands Technologies LLC bought a new stake in shares of nVent Electric during the 2nd quarter worth approximately $179,000. Daiwa Securities Group Inc. bought a new stake in shares of nVent Electric during the 2nd quarter worth approximately $1,080,000. Texas Permanent School Fund Corp raised its stake in nVent Electric by 0.6% in the 2nd quarter. Texas Permanent School Fund Corp now owns 146,067 shares of the company’s stock valued at $11,190,000 after acquiring an additional 863 shares during the period. Finally, Choreo LLC bought a new stake in nVent Electric in the 2nd quarter valued at $266,000. Institutional investors own 90.05% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on NVT shares. Barclays increased 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. 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 research note on Wednesday, August 7th. Finally, KeyCorp upgraded 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. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, nVent Electric has a consensus rating of “Buy” and a consensus target price of $86.50.

nVent Electric Stock Performance

Shares of NYSE NVT opened at $69.52 on Wednesday. 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 stock’s fifty day moving average price is $67.02 and its two-hundred day moving average price is $73.39. nVent Electric plc has a one year low of $45.60 and a one year high of $86.57. The firm has a market cap of $11.54 billion, a price-to-earnings ratio of 20.27, a P/E/G ratio of 1.22 and a beta of 1.27.

nVent Electric (NYSE:NVT) last issued its quarterly earnings data 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 during the quarter, compared to analyst estimates of $892.89 million. During the same period in the prior year, the company earned $0.77 earnings per share. The business’s quarterly revenue was up 9.6% compared to the same quarter last year. On average, equities analysts forecast that nVent Electric plc will post 3.26 EPS for the current year.

Insider Transactions at nVent Electric

In related news, Director Herbert K. Parker bought 7,566 shares of nVent Electric stock in a transaction dated Thursday, August 15th. The shares were bought at an average cost 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Lynnette R. Heath sold 8,242 shares of the firm’s stock in a transaction dated 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 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 Securities & Exchange Commission, which is accessible through this link. Also, Director Herbert K. Parker acquired 7,566 shares of nVent Electric stock in a transaction that occurred 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 purchase, the director now directly 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.

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.