Corbyn Investment Management Inc. MD Sells 714 Shares of nVent Electric plc (NYSE:NVT)

Corbyn Investment Management Inc. MD reduced its position in nVent Electric plc (NYSE:NVT) by 3.0% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 22,822 shares of the company’s stock after selling 714 shares during the quarter. Corbyn Investment Management Inc. MD’s holdings in nVent Electric were worth $1,748,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of NVT. Banque Cantonale Vaudoise bought a new position in nVent Electric in the 1st quarter valued at about $26,000. Livelsberger Financial Advisory bought a new position in nVent Electric in the 4th quarter valued at about $28,000. ORG Partners LLC bought a new position in nVent Electric in the 2nd quarter valued at about $31,000. Rise Advisors LLC bought a new position in nVent Electric in the 1st quarter valued at about $32,000. Finally, Smithfield Trust Co increased its holdings in nVent Electric by 650.0% in the 4th quarter. Smithfield Trust Co now owns 630 shares of the company’s stock valued at $36,000 after buying an additional 546 shares during the period. 90.05% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on NVT. KeyCorp upgraded shares of nVent Electric from a “sector weight” rating to an “overweight” rating and set a $80.00 price target on the stock in a research note on Wednesday. Royal Bank of Canada reduced their price target on shares of nVent Electric from $88.00 to $82.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. Finally, Barclays raised their price target on shares of nVent Electric from $85.00 to $95.00 and gave the company an “overweight” rating in a research note on Tuesday, June 4th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, nVent Electric presently has a consensus rating of “Buy” and an average target price of $86.50.

nVent Electric Stock Down 0.8 %

NYSE:NVT opened at $61.63 on Friday. The firm’s 50 day simple moving average is $69.63 and its 200 day simple moving average is $73.41. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.17 and a quick ratio of 1.49. nVent Electric plc has a one year low of $45.60 and a one year high of $86.57. The company has a market cap of $10.23 billion, a PE ratio of 17.97, a P/E/G ratio of 1.30 and a beta of 1.27.

nVent Electric (NYSE:NVT) last posted its earnings results on Tuesday, August 6th. The company reported $0.82 EPS for the quarter, missing the consensus estimate of $0.83 by ($0.01). nVent Electric had a return on equity of 17.21% and a net margin of 16.59%. The business had revenue of $880.30 million for the quarter, compared to analyst estimates of $892.89 million. During the same quarter in the prior year, the business earned $0.77 earnings per share. The firm’s quarterly revenue was up 9.6% on a year-over-year basis. On average, research analysts anticipate that nVent Electric plc will post 3.26 earnings per share for the current year.

Insider Transactions at nVent Electric

In other news, EVP Lynnette R. Heath sold 8,242 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $60.26, for a total value of $496,662.92. Following the transaction, the executive vice president now owns 30,432 shares in the company, valued at approximately $1,833,832.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Lynnette R. Heath sold 8,242 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $60.26, for a total value of $496,662.92. Following the transaction, the executive vice president now owns 30,432 shares in the company, valued at approximately $1,833,832.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael B. Faulconer sold 20,004 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $63.34, for a total transaction of $1,267,053.36. Following the completion of the transaction, the insider now owns 19,766 shares in the company, valued at approximately $1,251,978.44. The disclosure for this sale can be found here. Corporate insiders own 2.50% of the company’s stock.

nVent Electric Company Profile

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.