Tocqueville Asset Management L.P. Buys 33,255 Shares of nVent Electric PLC (NYSE:NVT)

Key Points

• Tocqueville Asset Management L.P. increased its stake in nVent Electric PLC by 29.4%, acquiring an additional 33,255 shares, bringing its total ownership to 146,415 shares valued at approximately $7.67 million.
• nVent Electric reported earnings of $0.86 per share, exceeding analysts' expectations of $0.79, with quarterly revenues of $963.10 million, up 30.1% year-over-year.
• Institutional investors collectively hold 90.05% of nVent Electric's stock, reflecting strong confidence in the company among large investors.

Tocqueville Asset Management L.P. raised its holdings in shares of nVent Electric PLC (NYSE:NVT - Free Report) by 29.4% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 146,415 shares of the company's stock after purchasing an additional 33,255 shares during the period. Tocqueville Asset Management L.P. owned 0.09% of nVent Electric worth $7,675,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Utah Retirement Systems increased its stake in shares of nVent Electric by 2.3% during the fourth quarter. Utah Retirement Systems now owns 8,923 shares of the company's stock valued at $608,000 after purchasing an additional 200 shares in the last quarter. Davis R M Inc. increased its stake in shares of nVent Electric by 4.0% during the first quarter. Davis R M Inc. now owns 5,200 shares of the company's stock valued at $273,000 after purchasing an additional 200 shares in the last quarter. Hancock Whitney Corp increased its stake in shares of nVent Electric by 1.4% during the fourth quarter. Hancock Whitney Corp now owns 15,031 shares of the company's stock valued at $1,025,000 after purchasing an additional 206 shares in the last quarter. Portside Wealth Group LLC increased its stake in shares of nVent Electric by 3.2% during the first quarter. Portside Wealth Group LLC now owns 7,152 shares of the company's stock valued at $375,000 after purchasing an additional 219 shares in the last quarter. Finally, Parallel Advisors LLC increased its stake in shares of nVent Electric by 15.6% during the first quarter. Parallel Advisors LLC now owns 1,702 shares of the company's stock valued at $89,000 after purchasing an additional 230 shares in the last quarter. Institutional investors own 90.05% of the company's stock.

nVent Electric Trading Down 2.1%

Shares of nVent Electric stock opened at $87.94 on Friday. The company's fifty day simple moving average is $77.18 and its 200-day simple moving average is $65.42. The stock has a market capitalization of $14.15 billion, a PE ratio of 25.05, a P/E/G ratio of 1.51 and a beta of 1.35. nVent Electric PLC has a 1-year low of $41.71 and a 1-year high of $92.75. 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 issued its quarterly earnings results on Friday, August 1st. The company reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.07. The business had revenue of $963.10 million for the quarter, compared to analysts' expectations of $906.96 million. nVent Electric had a net margin of 17.72% and a return on equity of 13.36%. The company's revenue was up 30.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.82 EPS. As a group, equities analysts anticipate that nVent Electric PLC will post 3.04 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently commented on NVT shares. Citigroup increased their price target on shares of nVent Electric from $69.00 to $86.00 and gave the company a "buy" rating in a report on Monday, July 14th. Barclays reiterated an "overweight" rating on shares of nVent Electric in a report on Monday, August 4th. The Goldman Sachs Group raised their target price on shares of nVent Electric from $78.00 to $87.00 and gave the stock a "buy" rating in a report on Monday, July 7th. KeyCorp raised their target price on shares of nVent Electric from $78.00 to $84.00 and gave the stock an "overweight" rating in a report on Tuesday, July 15th. Finally, Roth Capital restated a "buy" rating and issued a $100.00 target price (up previously from $89.00) on shares of nVent Electric in a report on Monday, August 4th. Eight investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $87.00.

Insider Activity

In other news, EVP Aravind Padmanabhan sold 24,534 shares of the firm's stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $90.00, for a total transaction of $2,208,060.00. Following the sale, the executive vice president directly owned 12,063 shares in the company, valued at $1,085,670. This trade represents a 67.04% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Lynnette R. Heath sold 17,853 shares of the firm's stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $89.33, for a total transaction of $1,594,808.49. Following the sale, the executive vice president owned 30,512 shares in the company, valued at $2,725,636.96. The trade was a 36.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 218,780 shares of company stock worth $19,591,172. 1.80% of the stock is currently owned by insiders.

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.

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