Xponance Inc. Lowers Holdings in nVent Electric plc (NYSE:NVT)

Xponance Inc. trimmed its position in nVent Electric plc (NYSE:NVT – Get Rating) by 1.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 18,688 shares of the company’s stock after selling 302 shares during the quarter. Xponance Inc.’s holdings in nVent Electric were worth $710,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the business. Arrowstreet Capital Limited Partnership lifted its stake in shares of nVent Electric by 62.1% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 2,242,640 shares of the company’s stock worth $72,505,000 after purchasing an additional 859,039 shares during the last quarter. Easterly Investment Partners LLC purchased a new stake in shares of nVent Electric during the 3rd quarter worth $23,969,000. Goldman Sachs Group Inc. lifted its stake in shares of nVent Electric by 85.6% during the 3rd quarter. Goldman Sachs Group Inc. now owns 1,018,244 shares of the company’s stock worth $32,919,000 after purchasing an additional 469,694 shares during the last quarter. Neuberger Berman Group LLC lifted its stake in shares of nVent Electric by 17.2% during the 3rd quarter. Neuberger Berman Group LLC now owns 2,734,683 shares of the company’s stock worth $88,314,000 after purchasing an additional 400,948 shares during the last quarter. Finally, Chartwell Investment Partners LLC lifted its stake in shares of nVent Electric by 132.2% during the 3rd quarter. Chartwell Investment Partners LLC now owns 552,412 shares of the company’s stock worth $17,859,000 after purchasing an additional 314,499 shares during the last quarter. Institutional investors and hedge funds own 84.45% of the company’s stock.

In other news, Director Ronald Merriman sold 3,947 shares of the stock in a transaction dated Monday, March 28th. The stock was sold at an average price of $35.17, for a total value of $138,815.99. The sale was disclosed in a document filed with the SEC, which is available through this link. 2.00% of the stock is currently owned by corporate insiders.

Shares of NYSE:NVT opened at $34.21 on Monday. The company’s 50-day simple moving average is $34.43. The company has a quick ratio of 0.93, a current ratio of 1.43 and a debt-to-equity ratio of 0.40. The firm has a market cap of $5.69 billion, a price-to-earnings ratio of 21.25 and a beta of 1.53. nVent Electric plc has a 1 year low of $27.87 and a 1 year high of $39.53.

nVent Electric (NYSE:NVT – Get Rating) last announced its quarterly earnings data on Tuesday, February 8th. The company reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.01. The business had revenue of $669.00 million for the quarter, compared to analyst estimates of $606.40 million. nVent Electric had a return on equity of 13.35% and a net margin of 11.08%. The company’s revenue was up 28.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.43 earnings per share. On average, equities analysts predict that nVent Electric plc will post 2.18 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 6th. Stockholders of record on Friday, April 22nd will be issued a $0.175 dividend. This represents a $0.70 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date of this dividend is Thursday, April 21st. nVent Electric’s dividend payout ratio is presently 43.48%.

A number of brokerages recently weighed in on NVT. Vertical Research upgraded nVent Electric from a “hold” rating to a “buy” rating and set a $45.00 price objective for the company in a research note on Monday, January 3rd. Barclays reduced their target price on nVent Electric from $51.00 to $48.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 9th. Finally, Zacks Investment Research raised nVent Electric from a “hold” rating to a “buy” rating and set a $40.00 target price on the stock in a research report on Friday, February 11th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $43.00.

nVent Electric Profile (Get Rating)

nVent Electric Plc engages in the provision of electrical connection and protection solutions. It operates through the following segments: Enclosures, Thermal Management, and Electrical & Fastening Solutions. The Enclosures segment offers solutions that protect, connect, and manage heat in critical electronics, communication, control, and power equipment.

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