Prestige Wealth Management Group LLC Buys 2,714 Shares of nVent Electric plc (NYSE:NVT)

Prestige Wealth Management Group LLC raised its position in nVent Electric plc (NYSE:NVT) by 3,618.7% in the 2nd quarter, HoldingsChannel reports. The fund 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 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently modified their holdings of NVT. Signaturefd LLC increased its holdings in nVent Electric by 22.0% in the 2nd quarter. Signaturefd LLC now owns 860 shares of the company’s stock valued at $66,000 after buying an additional 155 shares during the period. FinTrust Capital Advisors LLC increased its stake in nVent Electric by 17.5% in the fourth quarter. FinTrust Capital Advisors LLC now owns 1,056 shares of the company’s stock valued at $62,000 after acquiring an additional 157 shares during the period. HMS Capital Management LLC raised its position in nVent Electric by 3.2% in the first quarter. HMS Capital Management LLC now owns 5,837 shares of the company’s stock worth $440,000 after purchasing an additional 183 shares in the last quarter. Private Advisor Group LLC lifted its stake in nVent Electric by 3.2% during the fourth quarter. Private Advisor Group LLC now owns 6,216 shares of the company’s stock worth $367,000 after purchasing an additional 191 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its holdings in nVent Electric by 16.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,736 shares of the company’s stock valued at $103,000 after purchasing an additional 247 shares in the last quarter. Institutional investors own 90.05% of the company’s stock.

Insider Activity at nVent Electric

In other nVent Electric news, Director Herbert K. Parker bought 7,566 shares of the stock in a transaction on Thursday, August 15th. The stock was purchased 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 of the company’s stock, valued at $2,268,572.04. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Herbert K. Parker bought 7,566 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was bought at an average cost of $65.71 per share, for a total transaction of $497,161.86. Following the transaction, the director now owns 34,524 shares of the company’s stock, valued at $2,268,572.04. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Lynnette R. Heath sold 8,242 shares of the stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $60.26, for a total transaction of $496,662.92. Following the completion of the sale, 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.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on NVT shares. Royal Bank of Canada cut their target price on 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 objective for the company in a report on Wednesday. Finally, Barclays upped their target price on shares of nVent Electric from $85.00 to $95.00 and gave the stock an “overweight” rating in a report on Tuesday, June 4th. Six analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $86.50.

nVent Electric Trading Down 0.8 %

Shares of NVT stock traded down $0.49 on Friday, reaching $61.63. 2,273,219 shares of the stock were exchanged, compared to its average volume of 1,529,414. The stock has a 50 day moving average price of $69.63 and a 200 day moving average price of $73.41. The stock has a market cap of $10.23 billion, a PE ratio of 17.97, a P/E/G ratio of 1.30 and a beta of 1.27. nVent Electric plc has a one year low of $45.60 and a one 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.

nVent Electric (NYSE:NVT) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.82 earnings per share for the quarter, missing the consensus estimate of $0.83 by ($0.01). The firm had revenue of $880.30 million for the quarter, compared to the consensus estimate of $892.89 million. nVent Electric had a return on equity of 17.21% and a net margin of 16.59%. The business’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.77 earnings per share. Equities research analysts forecast that nVent Electric plc will post 3.26 EPS for the current fiscal year.

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.