nVent Electric PLC (NYSE:NVT) Sees Large Decline in Short Interest

Key Points

• nVent Electric PLC saw a significant 41.6% decline in short interest in August, with current short interest at 2.6% of the company's stock, totaling 4,200,000 shares.
• Several brokerages have recently upgraded their ratings for nVent Electric, with a consensus rating of "Buy" and an average target price of $87.00.
• The company reported $0.86 EPS for the last quarter, exceeding analysts' expectations, with revenue up 30.1% compared to the previous year.

nVent Electric PLC (NYSE:NVT - Get Free Report) was the recipient of a significant decline in short interest in August. As of August 15th, there was short interest totaling 4,200,000 shares, adeclineof41.6% from the July 31st total of 7,190,000 shares. Currently,2.6% of the company's stock are short sold. Based on an average daily volume of 1,930,000 shares, the short-interest ratio is presently 2.2 days. Based on an average daily volume of 1,930,000 shares, the short-interest ratio is presently 2.2 days. Currently,2.6% of the company's stock are short sold.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on NVT. Barclays reissued an "overweight" rating on shares of nVent Electric in a research report on Monday, August 4th. Wall Street Zen raised shares of nVent Electric from a "hold" rating to a "buy" rating in a report on Saturday, July 12th. Royal Bank Of Canada reissued an "outperform" rating and set a $102.00 price target (up from $85.00) on shares of nVent Electric in a report on Monday, August 4th. Roth Capital restated a "buy" rating and set a $100.00 target price (up from $89.00) on shares of nVent Electric in a research report on Monday, August 4th. Finally, The Goldman Sachs Group upped their target price on shares of nVent Electric from $78.00 to $87.00 and gave the stock a "buy" rating in a research report on Monday, July 7th. One equities research analyst has rated the stock with a Strong Buy rating and seven have issued a Buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $87.00.

nVent Electric Trading Up 0.9%

NYSE:NVT traded up $0.79 during trading hours on Friday, reaching $92.72. 1,956,990 shares of the company were exchanged, compared to its average volume of 1,545,571. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.67 and a quick ratio of 1.20. The firm has a market cap of $14.92 billion, a price-to-earnings ratio of 26.41, a PEG ratio of 1.48 and a beta of 1.39. nVent Electric has a 52-week low of $41.71 and a 52-week high of $93.32. The stock has a 50 day simple moving average of $83.09 and a 200 day simple moving average of $67.87.

nVent Electric (NYSE:NVT - Get Free Report) last issued its earnings results on Friday, August 1st. The company reported $0.86 EPS 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 business had revenue of $963.10 million for the quarter, compared to the consensus estimate of $906.96 million. During the same quarter last year, the firm posted $0.82 EPS. The business's revenue for the quarter 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. As a group, analysts predict that nVent Electric will post 3.04 EPS for the current year.

Insider Activity

In related news, CEO Beth Wozniak sold 42,331 shares of the business's stock in a transaction on Monday, August 18th. The shares were sold at an average price of $89.21, for a total transaction of $3,776,348.51. Following the completion of the transaction, the chief executive officer owned 49,196 shares in the company, valued at approximately $4,388,775.16. The trade was a 46.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Herbert K. Parker sold 20,597 shares of the business's stock in a transaction on Monday, August 4th. The stock was sold at an average price of $89.88, for a total transaction of $1,851,258.36. Following the transaction, the director owned 15,070 shares of the company's stock, valued at approximately $1,354,491.60. The trade was a 57.75% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 261,111 shares of company stock valued at $23,367,520. Insiders own 1.80% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in NVT. Nuveen LLC acquired a new position in nVent Electric during the 1st quarter worth $229,615,000. Norges Bank acquired a new position in nVent Electric during the 2nd quarter worth $234,290,000. Millennium Management LLC grew its holdings in nVent Electric by 743.7% during the 4th quarter. Millennium Management LLC now owns 2,215,624 shares of the company's stock worth $151,017,000 after acquiring an additional 1,953,026 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in nVent Electric by 146.0% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,195,543 shares of the company's stock worth $234,074,000 after acquiring an additional 1,896,749 shares in the last quarter. Finally, American Century Companies Inc. boosted its holdings in shares of nVent Electric by 1,869.8% in the 1st quarter. American Century Companies Inc. now owns 1,462,840 shares of the company's stock valued at $76,682,000 after buying an additional 1,388,578 shares during the period. 90.05% of the stock is owned by institutional investors and hedge funds.

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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