Park Place Capital Corp Has $104,000 Stake in nVent Electric plc (NYSE:NVT)

Park Place Capital Corp decreased its stake in shares of nVent Electric plc (NYSE:NVT) by 22.6% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 1,353 shares of the company’s stock after selling 396 shares during the period. Park Place Capital Corp’s holdings in nVent Electric were worth $104,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Nordea Investment Management AB grew its position in shares of nVent Electric by 15.5% during the 1st quarter. Nordea Investment Management AB now owns 75,323 shares of the company’s stock worth $5,684,000 after buying an additional 10,135 shares during the period. Sequoia Financial Advisors LLC acquired a new stake in nVent Electric in the 4th quarter valued at $2,492,000. Jump Financial LLC grew its position in nVent Electric by 194.1% in the 4th quarter. Jump Financial LLC now owns 39,432 shares of the company’s stock valued at $2,330,000 after purchasing an additional 26,024 shares during the period. Mountain Pacific Investment Advisers Inc. ID grew its position in nVent Electric by 85.1% in the 1st quarter. Mountain Pacific Investment Advisers Inc. ID now owns 116,629 shares of the company’s stock valued at $8,794,000 after purchasing an additional 53,633 shares during the period. Finally, State Board of Administration of Florida Retirement System grew its position in nVent Electric by 4.7% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 190,240 shares of the company’s stock valued at $14,344,000 after purchasing an additional 8,489 shares during the period. Institutional investors and hedge funds own 90.05% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Royal Bank of Canada reduced their price target on shares of nVent Electric from $89.00 to $88.00 and set an “outperform” rating for the company in a research report on Monday, May 6th. The Goldman Sachs Group lifted their price target on shares of nVent Electric from $77.00 to $87.00 and gave the company a “buy” rating in a research report on Monday, May 6th. Barclays lifted their price target on shares of nVent Electric from $85.00 to $95.00 and gave the company an “overweight” rating in a research report on Tuesday, June 4th. Finally, Citigroup lifted their price target on shares of nVent Electric from $91.00 to $92.00 and gave the company a “buy” rating in a research report on Monday, May 6th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $89.00.

nVent Electric Stock Down 7.3 %

NYSE:NVT traded down $5.04 during trading hours on Friday, hitting $64.40. 3,202,400 shares of the company traded hands, compared to its average volume of 1,655,233. The company has a quick ratio of 1.35, a current ratio of 1.99 and a debt-to-equity ratio of 0.54. The firm’s 50-day simple moving average is $76.97 and its 200-day simple moving average is $72.93. nVent Electric plc has a one year low of $45.60 and a one year high of $86.57. The company has a market cap of $10.69 billion, a PE ratio of 18.78, a PEG ratio of 1.52 and a beta of 1.31.

nVent Electric (NYSE:NVT) last issued its quarterly earnings data on Friday, May 3rd. The company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.04. nVent Electric had a return on equity of 17.47% and a net margin of 17.02%. The business had revenue of $874.60 million for the quarter, compared to analysts’ expectations of $864.14 million. During the same period last year, the business earned $0.67 EPS. The business’s revenue was up 18.0% on a year-over-year basis. Equities analysts predict that nVent Electric plc will post 3.27 earnings per share for the current year.

nVent Electric Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 2nd. Stockholders of record on Friday, July 19th were paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date of this dividend was Friday, July 19th. nVent Electric’s payout ratio is 22.16%.

nVent Electric Profile

nVent Electric plc, together with its subsidiaries, designs, manufactures, markets, installs, and services electrical connection and protection solutions in North America, Europe, the Middle East, Africa, the Asia Pacific, and internationally. The company operates through three segments: Enclosures, Electrical & Fastening Solutions, and Thermal Management.