nVent Electric PLC (NVT) Holdings Trimmed by Deprince Race & Zollo Inc.

Deprince Race & Zollo Inc. decreased its position in nVent Electric PLC (NYSE:NVT) by 1.3% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 372,352 shares of the company’s stock after selling 5,021 shares during the period. Deprince Race & Zollo Inc.’s holdings in nVent Electric were worth $10,113,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in NVT. State of Alaska Department of Revenue acquired a new stake in shares of nVent Electric in the second quarter valued at about $457,000. Addison Capital Co acquired a new stake in shares of nVent Electric in the second quarter valued at about $255,000. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of nVent Electric in the second quarter valued at about $113,000. Gateway Investment Advisers LLC acquired a new stake in shares of nVent Electric in the second quarter valued at about $1,965,000. Finally, Manning & Napier Group LLC acquired a new stake in shares of nVent Electric in the second quarter valued at about $446,000. 81.64% of the stock is owned by institutional investors.

In other news, Director William T. Monahan sold 17,133 shares of nVent Electric stock in a transaction dated Wednesday, September 5th. The shares were sold at an average price of $28.08, for a total value of $481,094.64. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Separately, Barclays reiterated a “hold” rating and issued a $25.00 target price on shares of nVent Electric in a research report on Friday, July 27th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $28.25.

Shares of NYSE NVT opened at $25.36 on Wednesday. nVent Electric PLC has a 52-week low of $21.00 and a 52-week high of $29.84. The company has a current ratio of 2.12, a quick ratio of 1.53 and a debt-to-equity ratio of 0.36.

nVent Electric (NYSE:NVT) last announced its earnings results on Thursday, July 26th. The company reported $0.44 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.02. The company had revenue of $542.70 million during the quarter, compared to analyst estimates of $542.50 million. The company’s revenue for the quarter was up 5.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that nVent Electric PLC will post 1.76 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, November 2nd. Stockholders of record on Friday, October 19th will be given a $0.175 dividend. The ex-dividend date of this dividend is Thursday, October 18th. This represents a $0.70 annualized dividend and a dividend yield of 2.76%.

About nVent Electric

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.

Further Reading: Leveraged Buyout (LBO) Explained

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

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