Eos Focused Equity Management L.P. trimmed its holdings in nVent Electric PLC (NYSE:NVT) by 15.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 121,207 shares of the company’s stock after selling 21,831 shares during the quarter. nVent Electric comprises approximately 4.0% of Eos Focused Equity Management L.P.’s portfolio, making the stock its 10th largest holding. Eos Focused Equity Management L.P.’s holdings in nVent Electric were worth $3,292,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in NVT. Farmers & Merchants Investments Inc. purchased a new position in nVent Electric in the 3rd quarter worth approximately $100,000. Stratos Wealth Partners LTD. purchased a new position in nVent Electric in the 3rd quarter worth approximately $102,000. First Bank & Trust purchased a new position in nVent Electric in the 2nd quarter worth approximately $105,000. TRUE Private Wealth Advisors purchased a new position in nVent Electric in the 3rd quarter worth approximately $114,000. Finally, Moneta Group Investment Advisors LLC purchased a new position in nVent Electric in the 2nd quarter worth approximately $133,000. 81.17% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts have recently issued reports on the stock. Barclays restated a “hold” rating and set a $25.00 price target on shares of nVent Electric in a report on Friday, July 27th. Zacks Investment Research downgraded shares of nVent Electric from a “hold” rating to a “sell” rating in a report on Tuesday. Finally, Goldman Sachs Group upgraded shares of nVent Electric from a “neutral” rating to a “buy” rating and cut their price target for the stock from $31.00 to $30.00 in a report on Friday, October 26th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. nVent Electric presently has a consensus rating of “Hold” and a consensus price target of $28.60.
nVent Electric (NYSE:NVT) last announced its quarterly earnings results on Thursday, October 25th. The company reported $0.39 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.46 by ($0.07). The firm had revenue of $563.90 million for the quarter, compared to analyst estimates of $558.40 million. As a group, research analysts expect that nVent Electric PLC will post 1.75 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, November 2nd. Stockholders of record on Friday, October 19th were issued a dividend of $0.175 per share. The ex-dividend date of this dividend was Thursday, October 18th. This represents a $0.70 dividend on an annualized basis and a dividend yield of 2.64%.
In other news, Director William T. Monahan sold 17,133 shares of the firm’s stock in a transaction that occurred on Wednesday, September 5th. The shares were sold at an average price of $28.08, for a total transaction of $481,094.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Randall J. Hogan sold 21,082 shares of the firm’s stock in a transaction that occurred on Monday, November 5th. The stock was sold at an average price of $25.35, for a total transaction of $534,428.70. The disclosure for this sale can be found here.
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nVent Electric Company Profile
nVent Electric plc designs, manufactures, markets, installs, and services electrical connection and protection products and solutions in the United States, Canada, and internationally. The company operates through three segments: Enclosures, Thermal Management, and Electrical & Fastening Solutions.
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