Focus Financial Network Inc. Sells 499 Shares of nVent Electric plc (NYSE:NVT)

Focus Financial Network Inc. decreased its holdings in nVent Electric plc (NYSE:NVT) by 0.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 60,545 shares of the company’s stock after selling 499 shares during the quarter. Focus Financial Network Inc.’s holdings in nVent Electric were worth $4,520,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Carnegie Investment Counsel lifted its holdings in nVent Electric by 35.7% during the 2nd quarter. Carnegie Investment Counsel now owns 72,192 shares of the company’s stock worth $5,531,000 after buying an additional 19,002 shares during the period. Nisa Investment Advisors LLC lifted its stake in shares of nVent Electric by 50.8% in the second quarter. Nisa Investment Advisors LLC now owns 34,205 shares of the company’s stock worth $2,620,000 after acquiring an additional 11,523 shares during the period. TCW Group Inc. boosted its holdings in nVent Electric by 2.9% in the second quarter. TCW Group Inc. now owns 283,570 shares of the company’s stock valued at $21,724,000 after acquiring an additional 7,965 shares during the last quarter. 1858 Wealth Management LLC acquired a new stake in nVent Electric during the 2nd quarter valued at approximately $847,000. Finally, Envestnet Portfolio Solutions Inc. raised its holdings in nVent Electric by 10.0% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 14,720 shares of the company’s stock worth $1,128,000 after purchasing an additional 1,333 shares during the last quarter. 90.05% of the stock is currently owned by institutional investors and hedge funds.

nVent Electric Stock Down 0.8 %

NVT stock traded down $0.54 during trading on Tuesday, reaching $65.37. 1,272,603 shares of the stock were exchanged, compared to its average volume of 1,517,745. The firm’s 50 day moving average is $73.32 and its 200 day moving average is $73.29. The firm has a market cap of $10.85 billion, a P/E ratio of 19.01, a price-to-earnings-growth ratio of 1.52 and a beta of 1.31. The company has a current ratio of 1.99, a quick ratio of 1.35 and a debt-to-equity ratio of 0.54. nVent Electric plc has a twelve month low of $45.60 and a twelve month high of $86.57.

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 analysts’ consensus estimates 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 return on equity of 17.47% and a net margin of 17.02%. nVent Electric’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.77 earnings per share. As a group, research analysts forecast that nVent Electric plc will post 3.27 EPS for the current year.

Insider Buying and Selling

In related news, Director Herbert K. Parker purchased 7,566 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were bought 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 approximately $2,268,572.04. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Herbert K. Parker acquired 7,566 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were acquired at an average cost of $65.71 per share, for a total transaction of $497,161.86. Following the purchase, the director now owns 34,524 shares of the company’s stock, valued at approximately $2,268,572.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Michael B. Faulconer sold 20,004 shares of the stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $63.34, for a total transaction 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 disclosure for this sale can be found here. 2.50% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Barclays increased their price objective on shares of nVent Electric from $85.00 to $95.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 4th. The Goldman Sachs Group boosted their price objective on nVent Electric from $77.00 to $87.00 and gave the company a “buy” rating in a research note on Monday, May 6th. Royal Bank of Canada cut their target price on nVent Electric from $88.00 to $82.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 7th. Finally, Citigroup lifted their target price on nVent Electric from $91.00 to $92.00 and gave the stock a “buy” rating in a report on Monday, May 6th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $87.80.

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.