HighTower Advisors LLC Trims Stake in nVent Electric PLC $NVT

Key Points

• HighTower Advisors reduced its nVent Electric stake by 12.6% in the second quarter, selling 7,470 shares and retaining 52,010 shares valued at approximately $8.8 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.
• Insiders sold 74,644 shares worth about $12.3 million over the past 90 days, while analysts maintained a favorable outlook: nVent has a consensus “Buy” rating and an average price target of $199.86, compared with a recent price of $155.28.

HighTower Advisors LLC lowered its position in nVent Electric PLC (NYSE:NVT - Free Report) by 12.6% in the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 52,010 shares of the company's stock after selling 7,470 shares during the period. HighTower Advisors LLC's holdings in nVent Electric were worth $8,821,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in NVT. Swedbank AB bought a new stake in shares of nVent Electric during the 4th quarter valued at $59,312,000. Northwestern Mutual Wealth Management Co. grew its position in shares of nVent Electric by 103.5% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 19,139 shares of the company's stock worth $1,952,000 after buying an additional 9,734 shares during the period. Alua Capital Management LP bought a new position in shares of nVent Electric in the 1st quarter worth about $27,394,000. VIRGINIA RETIREMENT SYSTEMS ET Al increased its stake in shares of nVent Electric by 216.7% in the 4th quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 20,900 shares of the company's stock worth $2,131,000 after acquiring an additional 14,300 shares in the last quarter. Finally, Flputnam Investment Management Co. lifted its position in nVent Electric by 16.9% during the 4th quarter. Flputnam Investment Management Co. now owns 66,297 shares of the company's stock valued at $6,760,000 after acquiring an additional 9,570 shares during the period. Hedge funds and other institutional investors own 90.05% of the company's stock.

Insider Transactions at nVent Electric

In other news, insider Robert van der Kolk sold 5,858 shares of the company's stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $164.32, for a total value of $962,586.56. Following the transaction, the insider owned 27,387 shares in the company, valued at approximately $4,500,231.84. This represents a 17.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Beth Wozniak sold 46,261 shares of the stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $164.42, for a total transaction of $7,606,233.62. Following the sale, the chief executive officer owned 55,612 shares in the company, valued at approximately $9,143,725.04. The trade was a 45.41% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 74,644 shares of company stock worth $12,276,886. Corporate insiders own 1.70% of the company's stock.

nVent Electric Price Performance

NVT opened at $155.28 on Friday. The firm has a market cap of $25.13 billion, a PE ratio of 42.43, a P/E/G ratio of 1.33 and a beta of 1.36. The stock has a 50-day moving average price of $156.85 and a 200-day moving average price of $148.55. nVent Electric PLC has a 1 year low of $93.22 and a 1 year high of $184.64. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.80 and a quick ratio of 1.33.

nVent Electric (NYSE:NVT - Get Free Report) last announced its quarterly earnings data on Friday, July 31st. The company reported $1.45 EPS for the quarter, beating the consensus estimate of $1.16 by $0.29. The company had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.26 billion. nVent Electric had a net margin of 12.38% and a return on equity of 18.85%. nVent Electric's revenue for the quarter was up 52.8% on a year-over-year basis. During the same period in the prior year, the firm posted $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 predict that nVent Electric PLC will post 5.13 earnings per share for the current fiscal year.

nVent Electric announced that its board has approved a share buyback program on Saturday, May 16th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to buy up to 1.8% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on NVT shares. Robert W. Baird boosted their price objective on shares of nVent Electric from $188.00 to $200.00 and gave the stock an "outperform" rating in a research note on Monday, August 3rd. Sanford C. Bernstein set a $220.00 target price on shares of nVent Electric in a research note on Thursday, July 9th. Wall Street Zen upgraded shares of nVent Electric from a "buy" rating to a "strong-buy" rating in a report on Sunday, June 21st. Roth Capital reissued 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. Finally, Citigroup boosted their price target on nVent Electric from $203.00 to $215.00 and gave the stock a "buy" rating in a research report on Monday, August 3rd. Three research analysts have rated the stock with a Strong Buy rating and fourteen have issued a Buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $199.86.

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.

Want to see what other hedge funds are holding NVT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for nVent Electric PLC (NYSE:NVT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.