L & S Advisors Inc Buys New Shares in nVent Electric plc (NYSE:NVT)

L & S Advisors Inc acquired a new position in nVent Electric plc (NYSE:NVT) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 34,864 shares of the company’s stock, valued at approximately $2,671,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Banque Cantonale Vaudoise bought a new position in nVent Electric during the first quarter worth about $26,000. Livelsberger Financial Advisory acquired a new position in nVent Electric during the fourth quarter valued at approximately $28,000. ORG Partners LLC bought a new stake in shares of nVent Electric during the 2nd quarter valued at approximately $31,000. Rise Advisors LLC bought a new position in shares of nVent Electric in the 1st quarter valued at $32,000. Finally, First Foundation Advisors bought a new stake in shares of nVent Electric during the second quarter worth about $34,000. 90.05% of the stock is owned by institutional investors.

nVent Electric Price Performance

Shares of NYSE:NVT opened at $65.75 on Tuesday. nVent Electric plc has a twelve month low of $45.60 and a twelve month high of $86.57. The stock has a market capitalization of $10.92 billion, a PE ratio of 19.17, a price-to-earnings-growth ratio of 1.22 and a beta of 1.27. The company has a quick ratio of 1.49, a current ratio of 2.17 and a debt-to-equity ratio of 0.53. The firm’s 50 day moving average price is $68.15 and its 200-day moving average price is $73.39.

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

Insider Activity

In other news, insider Michael B. Faulconer sold 20,004 shares of nVent Electric stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $63.34, for a total value of $1,267,053.36. Following the transaction, the insider now owns 19,766 shares of the company’s stock, valued at approximately $1,251,978.44. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, insider Michael B. Faulconer sold 20,004 shares of the 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 sale, the insider now directly owns 19,766 shares of the company’s stock, valued at approximately $1,251,978.44. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Herbert K. Parker acquired 7,566 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were bought at an average cost of $65.71 per share, for a total transaction of $497,161.86. Following the completion of the acquisition, the director now owns 34,524 shares of the company’s stock, valued at $2,268,572.04. The disclosure for this purchase can be found here. Insiders own 2.50% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on NVT shares. Barclays lifted their target price on nVent Electric from $85.00 to $95.00 and gave the stock an “overweight” rating in a report on Tuesday, June 4th. Royal Bank of Canada lowered their target price 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 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, September 4th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $86.50.

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.