Primecap Management Co. CA Sells 259,000 Shares of nVent Electric PLC $NVT

Primecap Management Co. CA cut its stake in shares of nVent Electric PLC (NYSE:NVT) by 30.2% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 600,000 shares of the company’s stock after selling 259,000 shares during the quarter. Primecap Management Co. CA’s holdings in nVent Electric were worth $43,950,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in NVT. Nuveen LLC acquired a new stake in nVent Electric during the first quarter worth approximately $229,615,000. Massachusetts Financial Services Co. MA boosted its stake in shares of nVent Electric by 146.0% during the second quarter. Massachusetts Financial Services Co. MA now owns 3,195,543 shares of the company’s stock valued at $234,074,000 after purchasing an additional 1,896,749 shares in the last quarter. William Blair Investment Management LLC increased its holdings in nVent Electric by 29.5% in the second quarter. William Blair Investment Management LLC now owns 3,113,936 shares of the company’s stock valued at $228,096,000 after purchasing an additional 709,464 shares during the period. Clean Energy Transition LLP increased its position in nVent Electric by 6.8% during the 1st quarter. Clean Energy Transition LLP now owns 2,260,068 shares of the company’s stock valued at $118,473,000 after purchasing an additional 144,403 shares during the period. Finally, Fiduciary Management Inc. WI raised its position in shares of nVent Electric by 38.1% in the 1st quarter. Fiduciary Management Inc. WI now owns 2,120,222 shares of the company’s stock worth $111,142,000 after acquiring an additional 585,449 shares in the last quarter. Institutional investors own 90.05% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Royal Bank Of Canada increased their target price on shares of nVent Electric from $117.00 to $133.00 and gave the stock an “outperform” rating in a research note on Monday, November 3rd. Barclays restated an “overweight” rating and set a $130.00 price objective on shares of nVent Electric in a research note on Monday, November 3rd. Roth Capital restated a “buy” rating and issued a $130.00 target price (up previously from $115.00) on shares of nVent Electric in a research note on Monday, November 3rd. Citigroup raised their price objective on shares of nVent Electric from $114.00 to $131.00 and gave the stock a “buy” rating in a report on Monday, November 3rd. Finally, The Goldman Sachs Group boosted their target price on nVent Electric from $111.00 to $140.00 and gave the company a “buy” rating in a research note on Monday, November 3rd. One analyst has rated the stock with a Strong Buy rating and eight have issued a Buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $121.14.

nVent Electric Stock Up 1.4%

Shares of NVT opened at $105.73 on Thursday. The business’s 50 day simple moving average is $101.87 and its 200-day simple moving average is $85.41. nVent Electric PLC has a 1 year low of $41.71 and a 1 year high of $117.52. The stock has a market capitalization of $17.06 billion, a price-to-earnings ratio of 29.13, a price-to-earnings-growth ratio of 1.44 and a beta of 1.40. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.57 and a quick ratio of 1.11.

nVent Electric (NYSE:NVT) last announced its earnings results on Friday, October 31st. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.03. The firm had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.01 billion. nVent Electric had a net margin of 16.83% and a return on equity of 14.29%. The business’s revenue was up 34.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.63 EPS. nVent Electric has set its Q4 2025 guidance at 0.870-0.890 EPS. FY 2025 guidance at 3.310-3.330 EPS. As a group, equities analysts expect that nVent Electric PLC will post 3.04 earnings per share for the current fiscal year.

nVent Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 7th. Stockholders of record on Friday, October 17th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Friday, October 17th. nVent Electric’s dividend payout ratio (DPR) is 22.04%.

Insider Buying and Selling

In related news, CAO Randolph A. Wacker sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, November 6th. The shares were sold at an average price of $110.08, for a total value of $550,400.00. Following the completion of the transaction, the chief accounting officer owned 26,400 shares of the company’s stock, valued at $2,906,112. The trade was a 15.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Sara E. Zawoyski sold 115,557 shares of nVent Electric stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $112.78, for a total value of $13,032,518.46. Following the completion of the transaction, the insider owned 66,680 shares in the company, valued at $7,520,170.40. This represents a 63.41% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 153,500 shares of company stock valued at $17,306,795 in the last 90 days. Company insiders own 1.80% of the company’s stock.

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.