State Street Corp Has $901.16 Million Position in nVent Electric PLC $NVT

Key Points

• State Street increased its nVent Electric stake by 4.9% in the second quarter, bringing its holdings to 5.31 million shares valued at approximately $901.2 million. Institutional investors and hedge funds collectively own 90.05% of NVT.
• Analysts remain broadly bullish, with a consensus “Buy” rating and an average price target of $199.86. Several firms recently raised their targets to between $200 and $215.
• nVent reported strong quarterly results, with adjusted EPS of $1.45 and revenue of $1.47 billion, exceeding estimates and representing 52.8% year-over-year revenue growth. The company also declared a quarterly dividend of $0.21 per share.

State Street Corp raised its position in nVent Electric PLC (NYSE:NVT - Free Report) by 4.9% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,313,122 shares of the company's stock after purchasing an additional 250,248 shares during the period. State Street Corp owned approximately 3.28% of nVent Electric worth $901,159,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of NVT. Norges Bank bought a new stake in shares of nVent Electric in the fourth quarter worth about $245,955,000. Amundi lifted its holdings in shares of nVent Electric by 146.8% during the 1st quarter. Amundi now owns 1,092,802 shares of the company's stock valued at $129,257,000 after purchasing an additional 649,992 shares in the last quarter. First Trust Advisors LP lifted its holdings in shares of nVent Electric by 32.8% during the 1st quarter. First Trust Advisors LP now owns 1,696,369 shares of the company's stock valued at $200,647,000 after purchasing an additional 419,239 shares in the last quarter. Engineers Gate Manager LP lifted its holdings in shares of nVent Electric by 440.5% during the 4th quarter. Engineers Gate Manager LP now owns 450,366 shares of the company's stock valued at $45,924,000 after purchasing an additional 367,042 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its position in shares of nVent Electric by 49.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 965,938 shares of the company's stock valued at $98,497,000 after purchasing an additional 317,633 shares during the period. 90.05% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at nVent Electric

In related news, CEO Beth Wozniak sold 46,261 shares of the company's stock in a transaction dated Wednesday, August 5th. The stock was 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. This represents a 45.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Der Kolk Robert J. Van sold 5,858 shares of the 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 directly owned 27,387 shares of the company's stock, valued at $4,500,231.84. This trade represents a 17.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 74,644 shares of company stock worth $12,276,886 in the last three months. Insiders own 1.70% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on NVT. Citigroup increased their target price on nVent Electric from $203.00 to $215.00 and gave the stock a "buy" rating in a research note on Monday, August 3rd. Robert W. Baird upped their price target on shares of nVent Electric from $188.00 to $200.00 and gave the company an "outperform" rating in a report on Monday, August 3rd. Melius Research started coverage on shares of nVent Electric in a report on Tuesday, June 16th. They issued a "buy" rating and a $214.00 price target for the company. Evercore reissued an "outperform" rating and set a $210.00 price objective on shares of nVent Electric in a research report on Monday, August 3rd. Finally, Wall Street Zen upgraded shares of nVent Electric from a "buy" rating to a "strong-buy" rating in a report on Sunday, June 21st. Three equities research analysts have rated the stock with a Strong Buy rating and fourteen have issued a Buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $199.86.

nVent Electric Price Performance

Shares of NVT opened at $162.91 on Thursday. The stock has a market capitalization of $26.37 billion, a P/E ratio of 44.51, a P/E/G ratio of 1.37 and a beta of 1.36. nVent Electric PLC has a twelve month low of $93.22 and a twelve month high of $184.64. The company has a 50 day moving average of $156.51 and a 200-day moving average of $150.99. The company has a quick ratio of 1.33, a current ratio of 1.80 and a debt-to-equity ratio of 0.37.

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, topping analysts' consensus estimates of $1.16 by $0.29. nVent Electric had a net margin of 12.38% and a return on equity of 18.85%. The business had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same quarter in the previous year, the firm posted $0.86 earnings per share. The firm's revenue for the quarter was up 52.8% on a year-over-year basis. 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. As a group, equities research analysts forecast that nVent Electric PLC will post 5.13 EPS for the current fiscal year.

nVent Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 6th. Shareholders of record on Friday, October 23rd will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, October 23rd. This represents a $0.84 annualized dividend and a yield of 0.5%. nVent Electric's payout ratio is 22.95%.

nVent Electric Company Profile

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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