Congress Asset Management Co. Sells 107,808 Shares of nVent Electric PLC $NVT

Key Points

• Congress Asset Management Co. reduced its stake in nVent Electric PLC by 7.2%, selling 107,808 shares and now holds approximately $101.4 million in shares.
• Insiders sold a total of 261,111 shares of nVent Electric in the last quarter, with significant sales by Randolph A. Wacker and Sara E. Zawoyski, indicating a notable decrease in their ownership.
• Brokerages have raised price targets for nVent Electric, with estimates now reaching up to $111.00, indicating strong optimism about the company's future performance.

Congress Asset Management Co. cut its holdings in nVent Electric PLC (NYSE:NVT - Free Report) by 7.2% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,384,247 shares of the company's stock after selling 107,808 shares during the quarter. Congress Asset Management Co. owned 0.84% of nVent Electric worth $101,396,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Alliance Wealth Advisors LLC UT boosted its stake in nVent Electric by 1.1% during the first quarter. Alliance Wealth Advisors LLC UT now owns 14,192 shares of the company's stock worth $744,000 after acquiring an additional 159 shares in the last quarter. Davis R M Inc. boosted its position in shares of nVent Electric by 4.0% during the 1st quarter. Davis R M Inc. now owns 5,200 shares of the company's stock worth $273,000 after purchasing an additional 200 shares in the last quarter. Portside Wealth Group LLC grew its stake in shares of nVent Electric by 3.2% in the 1st quarter. Portside Wealth Group LLC now owns 7,152 shares of the company's stock valued at $375,000 after buying an additional 219 shares during the period. Parallel Advisors LLC increased its position in nVent Electric by 15.6% in the 1st quarter. Parallel Advisors LLC now owns 1,702 shares of the company's stock valued at $89,000 after buying an additional 230 shares in the last quarter. Finally, TIAA Trust National Association raised its stake in nVent Electric by 6.3% during the 1st quarter. TIAA Trust National Association now owns 4,187 shares of the company's stock worth $219,000 after buying an additional 247 shares during the period. Institutional investors and hedge funds own 90.05% of the company's stock.

Insider Buying and Selling

In related news, CAO Randolph A. Wacker sold 3,000 shares of the business's stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $89.09, for a total value of $267,270.00. Following the sale, the chief accounting officer directly owned 27,525 shares in the company, valued at approximately $2,452,202.25. The trade was a 9.83% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Sara E. Zawoyski sold 22,109 shares of the company's stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $89.54, for a total transaction of $1,979,639.86. Following the sale, the insider directly owned 66,640 shares in the company, valued at approximately $5,966,945.60. This trade represents a 24.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 261,111 shares of company stock worth $23,367,520 in the last quarter. 1.80% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have commented on NVT. Royal Bank Of Canada restated an "outperform" rating and set a $102.00 price target (up previously from $85.00) on shares of nVent Electric in a research note on Monday, August 4th. Wall Street Zen raised shares of nVent Electric from a "hold" rating to a "buy" rating in a research report on Saturday, July 12th. Barclays reaffirmed an "overweight" rating on shares of nVent Electric in a research report on Monday, August 4th. Roth Capital reiterated a "buy" rating and set a $100.00 price target (up previously from $89.00) on shares of nVent Electric in a research note on Monday, August 4th. Finally, The Goldman Sachs Group increased their price objective on nVent Electric from $99.00 to $111.00 and gave the stock a "buy" rating in a research note on Tuesday, September 16th. One research analyst has rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the company. Based on data from MarketBeat, nVent Electric presently has a consensus rating of "Buy" and a consensus target price of $90.43.

nVent Electric Stock Down 0.7%

Shares of NYSE:NVT opened at $96.62 on Friday. nVent Electric PLC has a 1 year low of $41.71 and a 1 year high of $101.06. The company has a market capitalization of $15.55 billion, a PE ratio of 27.53, a price-to-earnings-growth ratio of 1.52 and a beta of 1.39. The business has a fifty day moving average price of $89.21 and a two-hundred day moving average price of $71.44. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.67 and a quick ratio of 1.20.

nVent Electric (NYSE:NVT - Get Free Report) last released its earnings results on Friday, August 1st. The company reported $0.86 earnings per share for the quarter, beating analysts' consensus estimates of $0.79 by $0.07. nVent Electric had a net margin of 17.72% and a return on equity of 13.36%. The firm had revenue of $963.10 million during the quarter, compared to the consensus estimate of $906.96 million. During the same period in the prior year, the firm earned $0.82 EPS. The company's revenue was up 30.1% compared to the same quarter last year. nVent Electric has set its Q3 2025 guidance at 0.860-0.880 EPS. FY 2025 guidance at 3.220-3.300 EPS. Analysts forecast that nVent Electric PLC will post 3.04 earnings per share for the current year.

nVent Electric Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 7th. Stockholders of record on Friday, October 17th will be paid a dividend of $0.20 per share. The ex-dividend date is Friday, October 17th. This represents a $0.80 annualized dividend and a dividend yield of 0.8%. nVent Electric's dividend payout ratio is presently 22.79%.

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.

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