Blog

Sep 01, 2023

US Bancorp DE Has $8.55 Million Holdings in nVent Electric plc (NYSE:NVT)

US Bancorp DE lessened its stake in nVent Electric plc (NYSE:NVT - Free Report) by 3.9% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm

US Bancorp DE lessened its stake in nVent Electric plc (NYSE:NVT - Free Report) by 3.9% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 199,153 shares of the company's stock after selling 8,069 shares during the quarter. US Bancorp DE owned 0.12% of nVent Electric worth $8,552,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of nVent Electric by 1.7% in the first quarter. Vanguard Group Inc. now owns 17,799,850 shares of the company's stock valued at $619,079,000 after buying an additional 302,124 shares during the period. BlackRock Inc. boosted its holdings in shares of nVent Electric by 3.2% in the first quarter. BlackRock Inc. now owns 14,459,036 shares of the company's stock valued at $502,885,000 after buying an additional 454,668 shares during the period. Franklin Resources Inc. boosted its holdings in shares of nVent Electric by 0.5% in the fourth quarter. Franklin Resources Inc. now owns 5,618,501 shares of the company's stock valued at $216,144,000 after buying an additional 28,456 shares during the period. State Street Corp boosted its holdings in shares of nVent Electric by 3.3% in the first quarter. State Street Corp now owns 4,800,623 shares of the company's stock valued at $166,966,000 after buying an additional 152,277 shares during the period. Finally, Boston Partners boosted its holdings in shares of nVent Electric by 2.3% in the fourth quarter. Boston Partners now owns 3,313,930 shares of the company's stock valued at $127,500,000 after buying an additional 75,366 shares during the period. Institutional investors and hedge funds own 86.38% of the company's stock.

In other news, CAO Randolph A. Wacker sold 1,519 shares of the stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $55.21, for a total value of $83,863.99. Following the transaction, the chief accounting officer now directly owns 20,366 shares of the company's stock, valued at $1,124,406.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CAO Randolph A. Wacker sold 1,519 shares of the stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $55.21, for a total value of $83,863.99. Following the transaction, the chief accounting officer now directly owns 20,366 shares of the company's stock, valued at $1,124,406.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Sara E. Zawoyski sold 2,178 shares of the stock in a transaction dated Tuesday, May 30th. The shares were sold at an average price of $45.17, for a total transaction of $98,380.26. Following the completion of the transaction, the chief financial officer now directly owns 63,778 shares in the company, valued at $2,880,852.26. The disclosure for this sale can be found here. Insiders have sold 33,523 shares of company stock valued at $1,588,842 over the last ninety days. 2.40% of the stock is currently owned by company insiders.

NVT has been the subject of several recent research reports. The Goldman Sachs Group increased their target price on shares of nVent Electric from $55.00 to $58.00 in a report on Tuesday, May 30th. Barclays increased their target price on shares of nVent Electric from $55.00 to $69.00 and gave the stock an "overweight" rating in a report on Monday, July 31st. Seaport Res Ptn restated a "neutral" rating on shares of nVent Electric in a report on Monday, August 7th. Royal Bank of Canada increased their target price on shares of nVent Electric from $57.00 to $60.00 and gave the stock an "outperform" rating in a report on Monday, July 31st. Finally, William Blair initiated coverage on shares of nVent Electric in a report on Thursday, July 27th. They set an "outperform" rating for the company. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $55.25.

Read Our Latest Analysis on nVent Electric

Shares of NVT stock opened at $54.05 on Tuesday. The stock has a market cap of $8.96 billion, a P/E ratio of 19.87 and a beta of 1.33. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.09 and a quick ratio of 1.32. The company has a fifty day moving average price of $51.44 and a two-hundred day moving average price of $46.02. nVent Electric plc has a one year low of $30.48 and a one year high of $56.34.

nVent Electric (NYSE:NVT - Get Free Report) last announced its quarterly earnings results on Friday, July 28th. The company reported $0.77 EPS for the quarter, beating analysts' consensus estimates of $0.68 by $0.09. The firm had revenue of $803.00 million during the quarter, compared to analysts' expectations of $809.05 million. nVent Electric had a net margin of 15.14% and a return on equity of 16.85%. The company's revenue for the quarter was up 10.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.57 earnings per share. As a group, equities analysts predict that nVent Electric plc will post 2.9 EPS for the current year.

nVent Electric plc designs, manufactures, markets, installs, and services electrical connection and protection products worldwide. The company operates through three segments: Enclosures, Electrical & Fastening Solutions, and Thermal Management. The Enclosures segment provides solutions to connect and protect critical electronics, communication, control, and power equipment; physical infrastructure solutions to host, connect, and protect server and network equipment; indoor and outdoor protection for test and measurement and aerospace and defense applications in industrial, infrastructure, commercial, and energy verticals; and metallic and non-metallic enclosures, cabinets, sub racks, and backplanes.

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 and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].

Before you consider nVent Electric, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and nVent Electric wasn't on the list.

While nVent Electric currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

Click the link below and we'll send you MarketBeat's list of the 10 best stocks to own in 2023 and why they should be in your portfolio.

Sign up for MarketBeat All Access to gain access to MarketBeat's full suite of research tools:

View the latest news, buy/sell ratings, SEC filings and insider transactions for your stocks. Compare your portfolio performance to leading indices and get personalized stock ideas based on your portfolio.

Get daily stock ideas from top-performing Wall Street analysts. Get short term trading ideas from the MarketBeat Idea Engine. View which stocks are hot on social media with MarketBeat's trending stocks report.

Identify stocks that meet your criteria using seven unique stock screeners. See what's happening in the market right now with MarketBeat's real-time news feed. Export data to Excel for your own analysis.