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NVT - Lackluster Growth And Valuation At nVent But Balance Sheet Flexibility Remains
nVent Electric plc
In a mixed quarter for industrials, nVent's (NVT) mixed quarter seems like par for the course to me. By no means was it a disaster, and the price-driven margin uplift was encouraging, but there's not much reason to expect robust growth in the near term, and after a moderately sector-beating performance since my last update, the valuation is more in the range of "okay, I guess…" now. I don't recommend selling core positions on the basis of quarter-to-quarter vibrations, but with some concerning signs regarding end-market growth across the industrial sector