Ancora Advisors LLC lowered its position in nVent Electric PLC (NYSE:NVT) by 12.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 366,471 shares of the company’s stock after selling 51,363 shares during the period. Ancora Advisors LLC owned 0.22% of nVent Electric worth $9,085,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in NVT. Advisor Group Inc. grew its position in shares of nVent Electric by 85.9% in the second quarter. Advisor Group Inc. now owns 11,699 shares of the company’s stock valued at $290,000 after purchasing an additional 5,407 shares in the last quarter. Stevens Capital Management LP bought a new stake in nVent Electric during the first quarter valued at $1,068,000. TCW Group Inc. lifted its stake in nVent Electric by 3.1% during the first quarter. TCW Group Inc. now owns 2,280,691 shares of the company’s stock worth $61,533,000 after purchasing an additional 68,217 shares during the last quarter. Aviva PLC lifted its stake in nVent Electric by 109.7% during the second quarter. Aviva PLC now owns 128,081 shares of the company’s stock worth $3,175,000 after purchasing an additional 67,012 shares during the last quarter. Finally, Eos Focused Equity Management L.P. lifted its stake in nVent Electric by 61.8% during the first quarter. Eos Focused Equity Management L.P. now owns 79,115 shares of the company’s stock worth $2,135,000 after purchasing an additional 30,223 shares during the last quarter. Institutional investors and hedge funds own 85.86% of the company’s stock.
In related news, Director Michael L. Ducker bought 2,000 shares of nVent Electric stock in a transaction dated Tuesday, August 6th. The shares were acquired at an average cost of $20.51 per share, with a total value of $41,020.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Beth Wozniak bought 5,000 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The shares were acquired at an average price of $21.29 per share, with a total value of $106,450.00. The disclosure for this purchase can be found here. Corporate insiders own 1.60% of the company’s stock.
NVT stock traded down $0.21 during midday trading on Friday, hitting $22.14. The company’s stock had a trading volume of 3,059 shares, compared to its average volume of 1,054,163. The firm’s 50-day moving average is $21.56 and its 200-day moving average is $24.82. The company has a market cap of $3.78 billion, a PE ratio of 12.72 and a beta of 1.64. The company has a current ratio of 1.87, a quick ratio of 1.25 and a debt-to-equity ratio of 0.41. nVent Electric PLC has a 12 month low of $19.28 and a 12 month high of $29.65.
nVent Electric (NYSE:NVT) last released its quarterly earnings results on Thursday, August 1st. The company reported $0.44 earnings per share for the quarter, meeting the consensus estimate of $0.44. The firm had revenue of $539.50 million for the quarter, compared to analysts’ expectations of $550.75 million. nVent Electric had a return on equity of 11.69% and a net margin of 11.43%. The company’s revenue was down .6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.44 EPS. Analysts expect that nVent Electric PLC will post 1.79 earnings per share for the current year.
Several research analysts have recently commented on the company. Barclays reiterated a “hold” rating and issued a $25.00 price objective on shares of nVent Electric in a report on Sunday, August 4th. Zacks Investment Research downgraded nVent Electric from a “hold” rating to a “sell” rating in a report on Saturday, August 3rd. Buckingham Research downgraded nVent Electric from a “buy” rating to a “neutral” rating and reduced their price target for the company from $29.00 to $23.00 in a report on Tuesday, August 6th. ValuEngine downgraded nVent Electric from a “sell” rating to a “strong sell” rating in a report on Thursday, July 11th. Finally, Vertical Research downgraded nVent Electric from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $27.33.
nVent Electric Profile
nVent Electric plc designs, manufactures, markets, installs, and services electrical connection and protection products in the United States, Canada, Mexico, Europe, the Middle East, Africa, and internationally. The company operates through three segments: Enclosures, Thermal Management, and Electrical & Fastening Solutions.
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