Voloridge Investment Management LLC Has $1.58 Million Stock Holdings in nVent Electric plc (NYSE:NVT)

Voloridge Investment Management LLC lessened its stake in nVent Electric plc (NYSE:NVT) by 70.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 67,964 shares of the company’s stock after selling 159,891 shares during the quarter. Voloridge Investment Management LLC’s holdings in nVent Electric were worth $1,583,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the business. Captrust Financial Advisors increased its stake in nVent Electric by 22.8% in the 4th quarter. Captrust Financial Advisors now owns 3,407 shares of the company’s stock valued at $79,000 after buying an additional 633 shares during the period. AdvisorNet Financial Inc increased its stake in nVent Electric by 103.2% in the 4th quarter. AdvisorNet Financial Inc now owns 1,676 shares of the company’s stock valued at $39,000 after buying an additional 851 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in nVent Electric by 9.9% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,539 shares of the company’s stock valued at $478,000 after buying an additional 1,852 shares during the period. Ellevest Inc. increased its stake in nVent Electric by 48.2% in the 4th quarter. Ellevest Inc. now owns 5,745 shares of the company’s stock valued at $134,000 after buying an additional 1,869 shares during the period. Finally, Corbyn Investment Management Inc. MD increased its stake in nVent Electric by 9.6% in the 4th quarter. Corbyn Investment Management Inc. MD now owns 22,675 shares of the company’s stock valued at $528,000 after buying an additional 1,983 shares during the period. Hedge funds and other institutional investors own 85.88% of the company’s stock.

NYSE NVT opened at $28.46 on Thursday. The company has a current ratio of 1.99, a quick ratio of 1.41 and a debt-to-equity ratio of 0.43. nVent Electric plc has a 1 year low of $15.60 and a 1 year high of $29.94. The company has a fifty day simple moving average of $27.68 and a 200 day simple moving average of $23.13. The company has a market cap of $4.79 billion, a P/E ratio of -98.14 and a beta of 1.53.

nVent Electric (NYSE:NVT) last issued its quarterly earnings results on Monday, February 8th. The company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.01. nVent Electric had a negative net margin of 2.39% and a positive return on equity of 10.35%. The firm had revenue of $521.00 million during the quarter, compared to the consensus estimate of $515.62 million. During the same period in the prior year, the firm earned $0.47 EPS. The business’s revenue was down 8.1% on a year-over-year basis. Equities research analysts forecast that nVent Electric plc will post 1.49 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, May 7th. Shareholders of record on Friday, April 23rd will be issued a $0.175 dividend. This represents a $0.70 dividend on an annualized basis and a yield of 2.46%. The ex-dividend date of this dividend is Thursday, April 22nd. nVent Electric’s dividend payout ratio (DPR) is presently 39.33%.

Several brokerages have recently commented on NVT. Zacks Investment Research lowered shares of nVent Electric from a “hold” rating to a “sell” rating in a research note on Friday, February 5th. KeyCorp increased their price target on shares of nVent Electric from $28.00 to $31.00 and gave the stock an “overweight” rating in a research note on Thursday, March 11th. Rosenblatt Securities dropped their price target on shares of nVent Electric from $32.00 to $31.00 and set a “buy” rating on the stock in a research note on Wednesday, February 10th. Royal Bank of Canada increased their price target on shares of nVent Electric from $27.00 to $30.00 and gave the stock an “outperform” rating in a research note on Thursday, March 4th. Finally, Barclays increased their price target on shares of nVent Electric from $38.00 to $39.00 and gave the stock an “overweight” rating in a research note on Tuesday. One research analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. nVent Electric currently has an average rating of “Buy” and a consensus target price of $30.33.

About nVent Electric

nVent Electric plc designs, manufactures, markets, installs, and services electrical connection and protection products in the United States, Canada, Western and Eastern Europe included in European Union, China, Eastern Europe not included in European Union, Latin America, the Middle East, Southeast Asia, Australia, and Japan.

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

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