Corbyn Investment Management Inc. MD Sells 714 Shares of nVent Electric plc (NYSE:NVT)

Corbyn Investment Management Inc. MD lessened its holdings in nVent Electric plc (NYSE:NVT) by 3.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,822 shares of the company’s stock after selling 714 shares during the quarter. Corbyn Investment Management Inc. MD’s holdings in nVent Electric were worth $1,748,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in NVT. International Assets Investment Management LLC bought a new stake in shares of nVent Electric in the fourth quarter worth $821,000. National Bank of Canada FI lifted its position in shares of nVent Electric by 415.6% in the fourth quarter. National Bank of Canada FI now owns 48,283 shares of the company’s stock worth $2,806,000 after purchasing an additional 38,918 shares in the last quarter. Private Advisor Group LLC lifted its position in shares of nVent Electric by 3.2% in 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 in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of nVent Electric by 2.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,021,311 shares of the company’s stock worth $60,349,000 after purchasing an additional 20,666 shares in the last quarter. Finally, Principal Securities Inc. bought a new stake in shares of nVent Electric in the fourth quarter worth $1,221,000. Institutional investors own 90.05% of the company’s stock.

Insider Transactions at nVent Electric

In related news, Director Herbert K. Parker bought 7,566 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was bought at an average price of $65.71 per share, for a total transaction of $497,161.86. Following the purchase, the director now owns 34,524 shares in the company, valued at approximately $2,268,572.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other nVent Electric news, Director Herbert K. Parker purchased 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, with a total value of $497,161.86. Following the completion of the transaction, the director now owns 34,524 shares in the company, valued at $2,268,572.04. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Michael B. Faulconer sold 20,004 shares of the firm’s 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 directly owns 19,766 shares in the company, valued at $1,251,978.44. The disclosure for this sale can be found here. 2.50% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have commented on NVT shares. KeyCorp upgraded shares of nVent Electric from a “sector weight” rating to an “overweight” rating and set a $80.00 price target for the company in a research note on Wednesday. Royal Bank of Canada cut their price target on shares of nVent Electric from $88.00 to $82.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. Finally, Barclays increased their price target on shares of nVent Electric from $85.00 to $95.00 and gave the company an “overweight” rating in a research note on Tuesday, June 4th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $86.50.

nVent Electric Stock Performance

NYSE NVT opened at $61.63 on Friday. The firm has a 50-day moving average of $69.63 and a 200-day moving average of $73.41. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.49 and a current ratio of 2.17. 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 52-week low of $45.60 and a 52-week high of $86.57.

nVent Electric (NYSE:NVT) last posted 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 company had revenue of $880.30 million for the quarter, compared to analyst estimates of $892.89 million. nVent Electric had a return on equity of 17.21% and a net margin of 16.59%. The business’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.77 EPS. On average, sell-side analysts anticipate that nVent Electric plc will post 3.26 EPS for the current year.

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.