This is a tough time if you have considerable exposure to short-cycle industrials, non-resi construction, and oil/gas, and indeed nVent (NVT) is having a tougher go of it. While other players in the electrical space have benefited from leverage to utility grid spending, that's not the case at nVent, and the company's data center exposure really isn't enough to meaningfully counterbalance the significant pressures elsewhere in the business. On top of that, steep decremental margins are chewing into one of the few strengths of the investment story.
I haven't been positive on nVent