Laurion Capital Management LP purchased a new position in nVent Electric PLC (NYSE:NVT) during the second quarter, HoldingsChannel reports. The fund purchased 1,137,687 shares of the company’s stock, valued at approximately $28,556,000. nVent Electric comprises 0.2% of Laurion Capital Management LP’s portfolio, making the stock its 26th biggest holding.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in NVT. State of Alaska Department of Revenue purchased a new stake in nVent Electric in the 2nd quarter valued at approximately $457,000. Addison Capital Co purchased a new position in shares of nVent Electric during the 2nd quarter worth $255,000. Kohmann Bosshard Financial Services LLC purchased a new position in shares of nVent Electric during the 2nd quarter worth $113,000. Gateway Investment Advisers LLC purchased a new position in shares of nVent Electric during the 2nd quarter worth $1,965,000. Finally, Manning & Napier Group LLC purchased a new position in shares of nVent Electric during the 2nd quarter worth $446,000. Institutional investors and hedge funds own 81.60% of the company’s stock.
NVT has been the topic of a number of recent analyst reports. KeyCorp initiated coverage on nVent Electric in a research note on Tuesday, May 15th. They set an “overweight” rating and a $29.00 price target on the stock. Susquehanna Bancshares initiated coverage on nVent Electric in a research note on Friday, May 18th. They set a “positive” rating and a $30.00 price target on the stock. Royal Bank of Canada initiated coverage on nVent Electric in a research note on Thursday, May 10th. They set an “outperform” rating and a $29.00 price target on the stock. Finally, Barclays reissued a “hold” rating and set a $25.00 price target on shares of nVent Electric in a research note on Friday, July 27th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. nVent Electric presently has an average rating of “Buy” and an average price target of $28.25.
Shares of nVent Electric stock opened at $27.84 on Wednesday. nVent Electric PLC has a fifty-two week low of $21.00 and a fifty-two week high of $29.84. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.12 and a quick ratio of 1.53.
nVent Electric (NYSE:NVT) last released its quarterly earnings data on Thursday, July 26th. The company reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.02. The firm had revenue of $542.70 million for the quarter, compared to analyst estimates of $542.50 million. The business’s revenue for the quarter was up 5.7% on a year-over-year basis. equities research analysts expect that nVent Electric PLC will post 1.76 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, August 17th. Stockholders of record on Friday, August 3rd were issued a dividend of $0.175 per share. The ex-dividend date was Thursday, August 2nd. This represents a $0.70 dividend on an annualized basis and a dividend yield of 2.51%.
In other news, Director Randall J. Hogan sold 204,462 shares of the company’s stock in a transaction on Friday, June 22nd. The stock was sold at an average price of $26.79, for a total transaction of $5,477,536.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
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.
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