AMF Tjanstepension AB Sells 315,396 Shares of nVent Electric plc (NYSE:NVT)

AMF Tjanstepension AB lessened its position in nVent Electric plc (NYSE:NVT) by 18.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,440,263 shares of the company’s stock after selling 315,396 shares during the period. AMF Tjanstepension AB owned about 0.87% of nVent Electric worth $74,418,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in NVT. Raymond James Financial Services Advisors Inc. raised its holdings in shares of nVent Electric by 9.2% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 10,999 shares of the company’s stock valued at $383,000 after purchasing an additional 923 shares during the last quarter. AlphaCrest Capital Management LLC raised its holdings in shares of nVent Electric by 36.8% during the first quarter. AlphaCrest Capital Management LLC now owns 11,498 shares of the company’s stock valued at $400,000 after purchasing an additional 3,093 shares during the last quarter. Natixis Advisors L.P. raised its holdings in shares of nVent Electric by 15.4% during the first quarter. Natixis Advisors L.P. now owns 43,511 shares of the company’s stock valued at $1,514,000 after purchasing an additional 5,807 shares during the last quarter. Bank of Montreal Can increased its holdings in nVent Electric by 10.6% during the first 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 increased its holdings 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 valued at $2,144,000 after buying an additional 5,879 shares during the last quarter. Institutional investors own 87.76% of the company’s stock.

Insider Buying and Selling

In related news, CFO Sara E. Zawoyski sold 2,649 shares of the company’s stock in a transaction on Monday, June 26th. The shares were 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 in the company, valued at $3,220,500. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other nVent Electric news, insider Joseph A. Ruzynski sold 4,711 shares of the stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $54.66, for a total transaction of $257,503.26. Following the completion of the transaction, the insider now owns 38,440 shares in the company, valued at $2,101,130.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Sara E. Zawoyski sold 2,649 shares of the stock in a transaction on Monday, June 26th. The shares were sold at an average price of $50.00, for a total transaction of $132,450.00. Following the transaction, the chief financial officer now owns 64,410 shares of the company’s stock, valued at approximately $3,220,500. The disclosure for this sale can be found here. Over the last quarter, insiders sold 8,879 shares of company stock worth $473,817. 2.40% of the stock is owned by insiders.

nVent Electric Price Performance

Shares of NYSE:NVT opened at $56.30 on Thursday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.32 and a current ratio of 2.09. The firm has a fifty day moving average price of $54.02 and a 200 day moving average price of $47.74. nVent Electric plc has a fifty-two week low of $30.48 and a fifty-two week high of $58.98. The firm has a market cap of $9.33 billion, a price-to-earnings ratio of 20.61 and a beta of 1.32.

nVent Electric (NYSE:NVT) last issued its earnings results on Friday, July 28th. The company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.09. nVent Electric had a net margin of 15.14% and a return on equity of 16.85%. The firm had revenue of $803.00 million during the quarter, compared to analyst estimates of $809.05 million. During the same quarter in the prior year, the business earned $0.57 earnings per share. nVent Electric’s revenue for the quarter was up 10.3% on a year-over-year basis. As a group, sell-side analysts expect that nVent Electric plc will post 2.9 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

NVT has been the subject of a number of research reports. Barclays upped their target price on shares of nVent Electric from $55.00 to $69.00 and gave the company an “overweight” rating in a report on Monday, July 31st. William Blair began coverage on shares of nVent Electric in a report on Thursday, July 27th. They set an “outperform” rating for the company. Royal Bank of Canada upped their price target on shares of nVent Electric from $57.00 to $60.00 and gave the stock an “outperform” rating in a research report on Monday, July 31st. Seaport Res Ptn reiterated a “neutral” rating on shares of nVent Electric in a research report on Monday, August 7th. Finally, The Goldman Sachs Group upped their price target on shares of nVent Electric from $55.00 to $58.00 in a research report on Tuesday, May 30th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $55.25.

nVent Electric Profile

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.