Mitsubishi UFJ Kokusai Asset Management Co. Ltd. Acquires 1,700 Shares of nVent Electric plc (NYSE:NVT)

Posted by on Aug 12th, 2023

Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its holdings in nVent Electric plc (NYSE:NVT – Free Report) by 1.7% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 99,529 shares of the company’s stock after buying an additional 1,700 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. owned about 0.06% of nVent Electric worth $4,274,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the business. Raymond James Financial Services Advisors Inc. grew its holdings in nVent Electric by 9.2% during the 1st 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 lifted its position in shares of nVent Electric by 36.8% in the 1st quarter. AlphaCrest Capital Management LLC now owns 11,498 shares of the company’s stock worth $400,000 after purchasing an additional 3,093 shares during the period. Natixis Advisors L.P. lifted its position in shares of nVent Electric by 15.4% in the 1st quarter. Natixis Advisors L.P. now owns 43,511 shares of the company’s stock worth $1,514,000 after purchasing an additional 5,807 shares during the period. Bank of Montreal Can lifted its position in shares of nVent Electric by 10.6% in the 1st quarter. Bank of Montreal Can now owns 21,601 shares of the company’s stock worth $768,000 after purchasing an additional 2,072 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in shares of nVent Electric by 10.5% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 61,657 shares of the company’s stock worth $2,144,000 after purchasing an additional 5,879 shares during the period. 86.38% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CFO Sara E. Zawoyski sold 2,178 shares of the business’s stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $45.17, for a total value of $98,380.26. Following the sale, the chief financial officer now directly owns 63,778 shares of the company’s stock, valued at approximately $2,880,852.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Sara E. Zawoyski sold 2,178 shares of the company’s stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $45.17, for a total transaction of $98,380.26. Following the sale, the chief financial officer now directly owns 63,778 shares of the company’s stock, valued at approximately $2,880,852.26. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Sara E. Zawoyski sold 2,649 shares of the company’s stock in a transaction that occurred on Monday, June 26th. The stock was sold at an average price of $50.00, for a total transaction of $132,450.00. Following the sale, the chief financial officer now directly owns 64,410 shares in the company, valued at $3,220,500. The disclosure for this sale can be found here. In the last three months, insiders have sold 33,523 shares of company stock valued at $1,588,842. Company insiders own 2.40% of the company’s stock.

Analysts Set New Price Targets

NVT has been the subject of several research reports. Seaport Res Ptn reaffirmed a “neutral” rating on shares of nVent Electric in a research report on Monday, August 7th. William Blair initiated 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 raised their target price on shares of nVent Electric from $57.00 to $60.00 and gave the stock an “outperform” rating in a report on Monday, July 31st. The Goldman Sachs Group raised their target price on shares of nVent Electric from $55.00 to $58.00 in a report on Tuesday, May 30th. Finally, Barclays raised their target price on shares of nVent Electric from $55.00 to $69.00 and gave the stock an “overweight” rating in a report on Monday, July 31st. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $55.25.

Check Out Our Latest Report on nVent Electric

nVent Electric Stock Performance

NYSE:NVT opened at $53.70 on Friday. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.09 and a quick ratio of 1.32. The firm has a market capitalization of $8.90 billion, a price-to-earnings ratio of 19.74 and a beta of 1.33. The company’s 50-day moving average is $51.12 and its two-hundred day moving average is $45.71. nVent Electric plc has a 1-year low of $30.48 and a 1-year high of $56.34.

nVent Electric (NYSE:NVT – Get Free Report) last released its quarterly earnings results on Friday, July 28th. The company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.09. The business had revenue of $803.00 million for the quarter, compared to the consensus estimate of $809.05 million. nVent Electric had a net margin of 15.14% and a return on equity of 16.85%. The business’s revenue was up 10.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.57 EPS. Analysts forecast that nVent Electric plc will post 2.9 EPS for the current year.

nVent Electric Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for nVent Electric (NYSE:NVT)

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