nVent Electric plc (NYSE:NVT) Shares Sold by Interval Partners LP

Interval Partners LP decreased its stake in shares of nVent Electric plc (NYSE:NVT) by 54.1% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 631,882 shares of the company’s stock after selling 745,813 shares during the period. nVent Electric comprises about 1.1% of Interval Partners LP’s investment portfolio, making the stock its 17th biggest holding. Interval Partners LP owned about 0.38% of nVent Electric worth $27,133,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of NVT. Raymond James Financial Services Advisors Inc. boosted its holdings in nVent Electric by 9.2% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 10,999 shares of the company’s stock worth $383,000 after purchasing an additional 923 shares during the period. AlphaCrest Capital Management LLC boosted its holdings in shares of nVent Electric by 36.8% in the 1st quarter. AlphaCrest Capital Management LLC now owns 11,498 shares of the company’s stock valued at $400,000 after buying an additional 3,093 shares during the period. Natixis Advisors L.P. grew its position in shares of nVent Electric by 15.4% during the 1st quarter. Natixis Advisors L.P. now owns 43,511 shares of the company’s stock valued at $1,514,000 after buying an additional 5,807 shares during the last quarter. Bank of Montreal Can grew its position in shares of nVent Electric by 10.6% during the 1st quarter. Bank of Montreal Can now owns 21,601 shares of the company’s stock valued at $768,000 after buying an additional 2,072 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in nVent Electric by 10.5% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 61,657 shares of the company’s stock worth $2,144,000 after acquiring an additional 5,879 shares during the period. 87.76% of the stock is currently owned by institutional investors and hedge funds.

nVent Electric Stock Performance

nVent Electric stock traded up $0.33 during mid-day trading on Friday, hitting $57.54. 2,140,454 shares of the company’s stock traded hands, compared to its average volume of 841,528. The company has a quick ratio of 1.32, a current ratio of 2.09 and a debt-to-equity ratio of 0.67. nVent Electric plc has a one year low of $30.48 and a one year high of $58.80. The firm has a 50 day moving average price of $53.65 and a 200 day moving average price of $47.49. The company has a market cap of $9.54 billion, a PE ratio of 21.15 and a beta of 1.32.

nVent Electric (NYSE:NVT) last issued its quarterly earnings results on Friday, July 28th. The company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.09. The company had revenue of $803.00 million for the quarter, compared to analyst estimates of $809.05 million. nVent Electric had a return on equity of 16.85% and a net margin of 15.14%. The company’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same period last year, the company earned $0.57 earnings per share. On average, equities analysts forecast that nVent Electric plc will post 2.9 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on NVT shares. Seaport Res Ptn restated a “neutral” rating on shares of nVent Electric in a research note on Monday, August 7th. William Blair started coverage on nVent Electric in a research note on Thursday, July 27th. They set an “outperform” rating for the company. Barclays raised their target price on nVent Electric from $55.00 to $69.00 and gave the company an “overweight” rating in a research note on Monday, July 31st. Royal Bank of Canada boosted their price target on shares of nVent Electric from $57.00 to $60.00 and gave the company an “outperform” rating in a report on Monday, July 31st. Finally, The Goldman Sachs Group increased their price objective on shares of nVent Electric from $55.00 to $58.00 in a report on Tuesday, May 30th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $55.25.

Insiders Place Their Bets

In other news, CFO Sara E. Zawoyski sold 2,649 shares of the stock in a transaction that occurred on Monday, June 26th. The shares were sold at an average price of $50.00, for a total value of $132,450.00. Following the completion of the transaction, the chief financial officer now directly owns 64,410 shares in the company, valued at $3,220,500. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Sara E. Zawoyski sold 2,649 shares of the firm’s stock in a transaction dated Monday, June 26th. The stock was sold at an average price of $50.00, for a total transaction of $132,450.00. Following the completion of the transaction, the chief financial officer now owns 64,410 shares of the company’s stock, valued at $3,220,500. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Randolph A. Wacker sold 1,519 shares of the business’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $55.21, for a total transaction of $83,863.99. Following the completion of the sale, the chief accounting officer now owns 20,366 shares in the company, valued at $1,124,406.86. The disclosure for this sale can be found here. In the last three months, insiders have sold 8,879 shares of company stock worth $473,817. 2.40% of the stock is owned by corporate insiders.

About nVent Electric

nVent Electric plc designs, manufactures, markets, installs, and services electrical connection and protection products worldwide. The company operates through three segments: Enclosures, Electrical & Fastening Solutions, and Thermal Management. The Enclosures segment provides solutions to connect and protect critical electronics, communication, control, and power equipment; physical infrastructure solutions to host, connect, and protect server and network equipment; indoor and outdoor protection for test and measurement and aerospace and defense applications in industrial, infrastructure, commercial, and energy verticals; and metallic and non-metallic enclosures, cabinets, sub racks, and backplanes.