Laurion Capital Management LP reduced its holdings in nVent Electric PLC (NYSE:NVT) by 88.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 133,248 shares of the company’s stock after selling 1,004,439 shares during the quarter. Laurion Capital Management LP owned 0.07% of nVent Electric worth $3,619,000 at the end of the most recent reporting period.
Several other institutional investors have also made changes to their positions in the business. Advisors Asset Management Inc. bought a new stake in shares of nVent Electric in the second quarter worth about $406,000. Arizona State Retirement System increased its holdings in shares of nVent Electric by 2.6% in the third quarter. Arizona State Retirement System now owns 115,685 shares of the company’s stock worth $3,142,000 after acquiring an additional 2,964 shares in the last quarter. Farmers & Merchants Investments Inc. bought a new stake in shares of nVent Electric in the third quarter worth about $100,000. Stratos Wealth Partners LTD. bought a new position in shares of nVent Electric during the third quarter worth about $102,000. Finally, TRUE Private Wealth Advisors bought a new position in shares of nVent Electric during the third quarter worth about $114,000. Institutional investors own 85.20% of the company’s stock.
In related news, Director Randall J. Hogan sold 21,082 shares of the stock in a transaction dated Monday, November 5th. The stock was sold at an average price of $25.35, for a total transaction of $534,428.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
NYSE:NVT opened at $23.10 on Friday. The company has a quick ratio of 1.41, a current ratio of 1.96 and a debt-to-equity ratio of 0.34. nVent Electric PLC has a 52-week low of $21.00 and a 52-week high of $29.84.
nVent Electric (NYSE:NVT) last posted its quarterly earnings data 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 company had revenue of $563.90 million during the quarter, compared to analyst estimates of $558.40 million. On average, equities analysts expect that nVent Electric PLC will post 1.75 EPS for the current year.
A number of research firms recently issued reports on NVT. Zacks Investment Research downgraded nVent Electric from a “hold” rating to a “sell” rating in a report on Tuesday, November 6th. Vertical Research began coverage on nVent Electric in a report on Wednesday, November 28th. They set a “hold” rating and a $28.00 price objective for the company. Finally, Goldman Sachs Group upgraded nVent Electric from a “neutral” rating to a “buy” rating and decreased their price objective for the stock from $31.00 to $30.00 in a report on Friday, October 26th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $28.50.
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.
Want to see what other hedge funds are holding NVT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for nVent Electric PLC (NYSE:NVT).
Receive News & Ratings for nVent Electric Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for nVent Electric and related companies with MarketBeat.com's FREE daily email newsletter.