nVent Electric PLC (NYSE:NVT) Stock Holdings Trimmed by Panagora Asset Management Inc.

Panagora Asset Management Inc. lowered its holdings in shares of nVent Electric PLC (NYSE:NVT) by 6.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 223,169 shares of the company’s stock after selling 15,682 shares during the period. Panagora Asset Management Inc.’s holdings in nVent Electric were worth $5,532,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Stevens Capital Management LP bought a new stake in nVent Electric during the 1st quarter valued at $1,068,000. TCW Group Inc. increased its position in shares of nVent Electric by 3.1% during the 1st quarter. TCW Group Inc. now owns 2,280,691 shares of the company’s stock valued at $61,533,000 after purchasing an additional 68,217 shares during the period. Eos Focused Equity Management L.P. increased its position in shares of nVent Electric by 61.8% during the 1st quarter. Eos Focused Equity Management L.P. now owns 79,115 shares of the company’s stock valued at $2,135,000 after purchasing an additional 30,223 shares during the period. Advisor Group Inc. increased its position in shares of nVent Electric by 85.9% during the 2nd 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 during the period. Finally, Raymond James & Associates increased its position in shares of nVent Electric by 43.7% during the 1st quarter. Raymond James & Associates now owns 139,798 shares of the company’s stock valued at $3,772,000 after purchasing an additional 42,532 shares during the period. 88.19% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE NVT traded up $0.36 during mid-day trading on Friday, reaching $21.21. The company had a trading volume of 5,788 shares, compared to its average volume of 1,008,103. The company has a current ratio of 1.87, a quick ratio of 1.25 and a debt-to-equity ratio of 0.41. The stock has a market cap of $3.44 billion, a PE ratio of 12.07 and a beta of 1.64. The company has a 50-day moving average price of $21.87 and a two-hundred day moving average price of $24.98. nVent Electric PLC has a 1-year low of $19.28 and a 1-year high of $29.65.

nVent Electric (NYSE:NVT) last issued its earnings results on Thursday, August 1st. The company reported $0.44 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.44. The business 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 quarterly revenue was down .6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.44 EPS. On average, research analysts expect that nVent Electric PLC will post 1.79 EPS for the current year.

NVT has been the topic of several research analyst reports. Barclays reiterated a “hold” rating and set a $25.00 price target on shares of nVent Electric in a research report on Sunday, August 4th. Vertical Research cut nVent Electric from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. ValuEngine cut nVent Electric from a “sell” rating to a “strong sell” rating in a research report on Thursday, July 11th. Buckingham Research cut nVent Electric from a “buy” rating to a “neutral” rating and lowered their price target for the company from $29.00 to $23.00 in a research report on Tuesday, August 6th. Finally, Zacks Investment Research cut nVent Electric from a “hold” rating to a “sell” rating in a research report on Saturday, August 3rd. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $27.33.

In related news, 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 cost of $21.29 per share, for a total transaction of $106,450.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Michael L. Ducker bought 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The stock was bought at an average price of $20.51 per share, for a total transaction of $41,020.00. The disclosure for this purchase can be found here. Insiders own 1.60% of the company’s stock.

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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Institutional Ownership by Quarter for nVent Electric (NYSE:NVT)

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