nVent Electric plc (NYSE:NVT) Shares Purchased by Prestige Wealth Management Group LLC

Prestige Wealth Management Group LLC boosted its stake in shares of nVent Electric plc (NYSE:NVT) by 3,618.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,789 shares of the company’s stock after purchasing an additional 2,714 shares during the period. Prestige Wealth Management Group LLC’s holdings in nVent Electric were worth $214,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Banque Cantonale Vaudoise purchased a new stake in nVent Electric during the first quarter worth approximately $26,000. Livelsberger Financial Advisory acquired a new position in shares of nVent Electric during the 4th quarter valued at $28,000. ORG Partners LLC purchased a new stake in nVent Electric during the 2nd quarter worth $31,000. Rise Advisors LLC acquired a new stake in nVent Electric in the 1st quarter valued at $32,000. Finally, Smithfield Trust Co raised its position in nVent Electric by 650.0% in the fourth quarter. Smithfield Trust Co now owns 630 shares of the company’s stock valued at $36,000 after purchasing an additional 546 shares during the period. 90.05% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently issued reports on NVT. KeyCorp raised 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. Barclays boosted their price target on nVent Electric from $85.00 to $95.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 4th. Finally, Royal Bank of Canada lowered their price objective on nVent Electric from $88.00 to $82.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, nVent Electric currently has a consensus rating of “Buy” and an average target price of $86.50.

nVent Electric Stock Down 0.8 %

Shares of NYSE:NVT traded down $0.49 during trading on Friday, reaching $61.63. 2,273,219 shares of the company traded hands, compared to its average volume of 1,529,414. The firm has a fifty day simple moving average of $69.63 and a 200 day simple moving average of $73.41. The company has a quick ratio of 1.49, a current ratio of 2.17 and a debt-to-equity ratio of 0.53. nVent Electric plc has a 1-year low of $45.60 and a 1-year high of $86.57. The firm has a market cap of $10.23 billion, a P/E ratio of 17.97, a price-to-earnings-growth ratio of 1.30 and a beta of 1.27.

nVent Electric (NYSE:NVT) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.82 EPS 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 the consensus estimate of $892.89 million. nVent Electric had a net margin of 16.59% and a return on equity of 17.21%. The company’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.77 EPS. Analysts anticipate that nVent Electric plc will post 3.26 earnings per share for the current fiscal year.

Insider Transactions at nVent Electric

In related news, 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 sale, 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 document filed with the SEC, which can be accessed through the SEC website. In other nVent Electric news, insider Michael B. Faulconer sold 20,004 shares of the company’s 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 sale, the insider now directly owns 19,766 shares in the company, valued at $1,251,978.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Lynnette R. Heath sold 8,242 shares of nVent Electric 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 completion of the transaction, the executive vice president now owns 30,432 shares in the company, valued at $1,833,832.32. The disclosure for this sale can be found here. 2.50% of the stock is currently owned by company insiders.

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.