Amundi Reduces Stock Holdings in nVent Electric PLC $NVT

Key Points

• Amundi reduced its nVent Electric stake by 65% in the second quarter, selling 709,905 shares and retaining 382,897 shares valued at approximately $64.9 million. Institutional investors collectively own 90.05% of the company.
• nVent reported a strong quarter, with EPS of $1.45 versus the $1.16 consensus and revenue of $1.47 billion, up 52.8% year over year. The company also authorized a $500 million share-repurchase program.
• Wall Street remains bullish: nVent has a consensus “Buy” rating and an average price target of $199.86, above its reported share price of $155.28, while several analysts recently raised their targets.

Amundi cut its holdings in nVent Electric PLC (NYSE:NVT - Free Report) by 65.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 382,897 shares of the company's stock after selling 709,905 shares during the period. Amundi owned 0.24% of nVent Electric worth $64,943,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in nVent Electric during the second quarter valued at $7,107,000. California State Teachers Retirement System increased its position in nVent Electric by 16,996.4% in the second quarter. California State Teachers Retirement System now owns 31,846,652 shares of the company's stock worth $5,401,511,000 after buying an additional 31,660,375 shares in the last quarter. Wedmont Private Capital bought a new position in shares of nVent Electric in the second quarter worth about $283,000. Yarger Wealth Strategies LLC bought a new position in shares of nVent Electric in the second quarter worth about $371,000. Finally, HB Wealth Management LLC lifted its position in shares of nVent Electric by 18.2% during the 2nd quarter. HB Wealth Management LLC now owns 15,187 shares of the company's stock valued at $2,576,000 after buying an additional 2,336 shares in the last quarter. Hedge funds and other institutional investors own 90.05% of the company's stock.

nVent Electric Price Performance

nVent Electric stock opened at $155.28 on Friday. nVent Electric PLC has a 52-week low of $93.22 and a 52-week high of $184.64. The company has a quick ratio of 1.33, a current ratio of 1.80 and a debt-to-equity ratio of 0.37. The firm's fifty day moving average is $156.85 and its 200 day moving average is $148.55. The company has a market cap of $25.13 billion, a price-to-earnings ratio of 42.43, a PEG ratio of 1.33 and a beta of 1.36.

nVent Electric (NYSE:NVT - Get Free Report) last announced its earnings results on Friday, July 31st. The company reported $1.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.16 by $0.29. The firm had revenue of $1.47 billion for the quarter, compared to analysts' expectations of $1.26 billion. nVent Electric had a net margin of 12.38% and a return on equity of 18.85%. The business's revenue was up 52.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.86 EPS. nVent Electric has set its Q3 2026 guidance at 1.350-1.380 EPS and its FY 2026 guidance at 5.000-5.100 EPS. Sell-side analysts forecast that nVent Electric PLC will post 5.13 EPS for the current fiscal year.

nVent Electric declared that its Board of Directors has initiated a share repurchase program on Saturday, May 16th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 1.8% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Citigroup raised their target price on shares of nVent Electric from $203.00 to $215.00 and gave the stock a "buy" rating in a research note on Monday, August 3rd. Roth Capital reiterated a "buy" rating and issued a $210.00 price target (up from $195.00) on shares of nVent Electric in a research report on Tuesday, August 25th. Clear Str raised shares of nVent Electric to a "strong-buy" rating in a research note on Monday, July 13th. Sanford C. Bernstein set a $220.00 price objective on shares of nVent Electric in a research report on Thursday, July 9th. Finally, Melius Research began coverage on shares of nVent Electric in a report on Tuesday, June 16th. They issued a "buy" rating and a $214.00 target price for the company. Three analysts have rated the stock with a Strong Buy rating and fourteen have given a Buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Buy" and an average target price of $199.86.

Insider Transactions at nVent Electric

In related news, CEO Beth Wozniak sold 46,261 shares of nVent Electric stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $164.42, for a total value of $7,606,233.62. Following the completion of the sale, the chief executive officer directly owned 55,612 shares in the company, valued at $9,143,725.04. The trade was a 45.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Randolph A. Wacker sold 22,525 shares of nVent Electric stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $164.62, for a total transaction of $3,708,065.50. Following the transaction, the chief accounting officer directly owned 27,441 shares in the company, valued at approximately $4,517,337.42. The trade was a 45.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 74,644 shares of company stock worth $12,276,886. 1.70% of the stock is currently owned by company insiders.

About nVent Electric

nVent Electric plc NYSE: NVT is a global provider of electrical connection and protection solutions. The company designs and manufactures products that help protect electrical and electronic systems, manage heat, and support the installation and operation of electrical infrastructure across industrial, commercial, residential, data center, energy and infrastructure applications.

Its product portfolio includes electrical and electronic enclosures, thermal-management systems, cable-management products, grounding and bonding equipment, electrical connections, fastening systems and other installation solutions.

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