Park Place Capital Corp Lowers Stock Holdings in nVent Electric plc (NYSE:NVT)

Park Place Capital Corp reduced its position in nVent Electric plc (NYSE:NVT) by 22.6% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 1,353 shares of the company’s stock after selling 396 shares during the period. Park Place Capital Corp’s holdings in nVent Electric were worth $104,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. FinTrust Capital Advisors LLC grew its stake in nVent Electric by 17.5% in the 4th quarter. FinTrust Capital Advisors LLC now owns 1,056 shares of the company’s stock worth $62,000 after acquiring an additional 157 shares during the period. HMS Capital Management LLC boosted its holdings in shares of nVent Electric by 3.2% in the 1st quarter. HMS Capital Management LLC now owns 5,837 shares of the company’s stock valued at $440,000 after purchasing an additional 183 shares during the last quarter. Private Advisor Group LLC boosted its holdings in shares of nVent Electric by 3.2% in the 4th quarter. Private Advisor Group LLC now owns 6,216 shares of the company’s stock valued at $367,000 after purchasing an additional 191 shares during the last quarter. State of Michigan Retirement System boosted its holdings in shares of nVent Electric by 0.5% in the 4th quarter. State of Michigan Retirement System now owns 39,806 shares of the company’s stock valued at $2,352,000 after purchasing an additional 200 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of nVent Electric by 16.6% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,736 shares of the company’s stock valued at $103,000 after purchasing an additional 247 shares during the last quarter. 90.05% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have weighed in on NVT. Citigroup lifted their price target on shares of nVent Electric from $91.00 to $92.00 and gave the company a “buy” rating in a report on Monday, May 6th. Barclays lifted their price target on shares of nVent Electric from $85.00 to $95.00 and gave the company an “overweight” rating in a report on Tuesday, June 4th. The Goldman Sachs Group lifted their target price on shares of nVent Electric from $77.00 to $87.00 and gave the company a “buy” rating in a report on Monday, May 6th. Finally, Royal Bank of Canada reduced their target price on shares of nVent Electric from $89.00 to $88.00 and set an “outperform” rating on the stock in a report on Monday, May 6th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $89.00.

nVent Electric Stock Down 7.3 %

Shares of NYSE:NVT traded down $5.04 during midday trading on Friday, hitting $64.40. 3,202,400 shares of the company’s stock traded hands, compared to its average volume of 1,655,233. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.35 and a current ratio of 1.99. The company has a market cap of $10.69 billion, a PE ratio of 18.78, a P/E/G ratio of 1.52 and a beta of 1.31. The firm’s fifty day moving average price is $76.97 and its two-hundred day moving average price is $72.93. nVent Electric plc has a twelve month low of $45.60 and a twelve month high of $86.57.

nVent Electric (NYSE:NVT) last released its quarterly earnings results on Friday, May 3rd. The company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.04. nVent Electric had a net margin of 17.02% and a return on equity of 17.47%. The firm had revenue of $874.60 million for the quarter, compared to the consensus estimate of $864.14 million. During the same quarter in the previous year, the firm posted $0.67 EPS. The firm’s quarterly revenue was up 18.0% on a year-over-year basis. On average, equities research analysts anticipate that nVent Electric plc will post 3.27 EPS for the current fiscal year.

nVent Electric Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 2nd. Investors of record on Friday, July 19th were paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 1.18%. The ex-dividend date of this dividend was Friday, July 19th. nVent Electric’s dividend payout ratio (DPR) is 22.16%.

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.