nVent Electric PLC $NVT Shares Sold by Corebridge Financial Inc.

Key Points

• Corebridge Financial Inc. has reduced its stake in nVent Electric PLC by 2.4%, owning 182,049 shares valued at approximately $9.54 million.
• nVent Electric's recent quarterly earnings exceeded analysts' expectations, with an EPS of $0.86 compared to a consensus estimate of $0.79, and a revenue increase of 30.1% year-over-year.
• Several institutional investors, including XTX Topco Ltd and Hsbc Holdings PLC, significantly increased their holdings in nVent Electric during the same quarter.

Corebridge Financial Inc. decreased its stake in nVent Electric PLC (NYSE:NVT - Free Report) by 2.4% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 182,049 shares of the company's stock after selling 4,447 shares during the period. Corebridge Financial Inc. owned 0.11% of nVent Electric worth $9,543,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. Nuveen LLC bought a new stake in shares of nVent Electric in the first quarter valued at approximately $229,615,000. Millennium Management LLC raised its position in shares of nVent Electric by 743.7% in the fourth quarter. Millennium Management LLC now owns 2,215,624 shares of the company's stock valued at $151,017,000 after purchasing an additional 1,953,026 shares during the period. American Century Companies Inc. raised its position in shares of nVent Electric by 1,869.8% in the first quarter. American Century Companies Inc. now owns 1,462,840 shares of the company's stock valued at $76,682,000 after purchasing an additional 1,388,578 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of nVent Electric by 145.8% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,466,560 shares of the company's stock valued at $99,961,000 after purchasing an additional 869,906 shares during the period. Finally, Balyasny Asset Management L.P. raised its position in shares of nVent Electric by 16,062.5% in the fourth quarter. Balyasny Asset Management L.P. now owns 875,197 shares of the company's stock valued at $59,653,000 after purchasing an additional 869,782 shares during the period. Institutional investors own 90.05% of the company's stock.

Insider Transactions at nVent Electric

In related news, EVP Aravind Padmanabhan sold 24,534 shares of nVent Electric stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $90.00, for a total value of $2,208,060.00. Following the completion of the sale, the executive vice president directly owned 12,063 shares in the company, valued at $1,085,670. The trade was a 67.04% 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, insider Sara E. Zawoyski sold 22,109 shares of the business's stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $89.54, for a total transaction of $1,979,639.86. Following the completion of the transaction, the insider owned 66,640 shares of the company's stock, valued at $5,966,945.60. This represents a 24.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 261,111 shares of company stock valued at $23,367,520 in the last 90 days. Company insiders own 2.50% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently commented on NVT. Wall Street Zen raised shares of nVent Electric from a "hold" rating to a "buy" rating in a research note on Saturday, July 12th. The Goldman Sachs Group upped their price objective on shares of nVent Electric from $78.00 to $87.00 and gave the company a "buy" rating in a research note on Monday, July 7th. Barclays reiterated an "overweight" rating on shares of nVent Electric in a report on Monday, August 4th. Roth Capital reiterated a "buy" rating and set a $100.00 price target (up from $89.00) on shares of nVent Electric in a report on Monday, August 4th. Finally, Citigroup upped their price objective on shares of nVent Electric from $69.00 to $86.00 and gave the stock a "buy" rating in a report on Monday, July 14th. One research analyst has rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the company. According to MarketBeat.com, nVent Electric has a consensus rating of "Buy" and an average price target of $87.00.

nVent Electric Stock Down 2.5%

Shares of NYSE:NVT traded down $2.27 during midday trading on Monday, reaching $90.31. The company's stock had a trading volume of 1,275,705 shares, compared to its average volume of 1,879,180. The firm has a 50 day moving average of $81.25 and a 200-day moving average of $67.08. The firm has a market capitalization of $14.53 billion, a P/E ratio of 25.73, a PEG ratio of 1.46 and a beta of 1.38. The company has a quick ratio of 1.20, a current ratio of 1.67 and a debt-to-equity ratio of 0.50. nVent Electric PLC has a 12-month low of $41.71 and a 12-month high of $92.95.

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

About nVent Electric

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.