Retirement Systems of Alabama Acquires 19,747 Shares of nVent Electric plc (NYSE:NVT)

Retirement Systems of Alabama lifted its stake in nVent Electric plc (NYSE:NVT) by 5.0% during the 4th quarter, Holdings Channel reports. The institutional investor owned 412,691 shares of the company’s stock after buying an additional 19,747 shares during the period. Retirement Systems of Alabama’s holdings in nVent Electric were worth $24,386,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of NVT. State of Michigan Retirement System lifted its position in nVent Electric by 0.5% in the fourth quarter. State of Michigan Retirement System now owns 39,806 shares of the company’s stock valued at $2,352,000 after purchasing an additional 200 shares during the last quarter. Quent Capital LLC increased its position in shares of nVent Electric by 123.2% in the fourth quarter. Quent Capital LLC now owns 424 shares of the company’s stock valued at $25,000 after acquiring an additional 234 shares during the period. Pinnacle Associates Ltd. raised its stake in shares of nVent Electric by 5.8% during the fourth quarter. Pinnacle Associates Ltd. now owns 4,281 shares of the company’s stock valued at $253,000 after acquiring an additional 236 shares during the last quarter. Cookson Peirce & Co. Inc. boosted its holdings in shares of nVent Electric by 4.1% during the third quarter. Cookson Peirce & Co. Inc. now owns 7,012 shares of the company’s stock worth $372,000 after purchasing an additional 277 shares during the period. Finally, Cambridge Investment Research Advisors Inc. increased its holdings in nVent Electric by 3.6% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 8,917 shares of the company’s stock valued at $472,000 after purchasing an additional 307 shares during the period. Institutional investors own 90.05% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on NVT shares. Citigroup lifted their price objective on nVent Electric from $71.00 to $91.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. Royal Bank of Canada raised their target price on shares of nVent Electric from $65.00 to $72.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 7th. The Goldman Sachs Group upped their target price on nVent Electric from $69.00 to $77.00 and gave the stock a “buy” rating in a report on Friday, March 15th. Deutsche Bank Aktiengesellschaft initiated coverage on nVent Electric in a research report on Monday, March 11th. They set a “buy” rating and a $83.00 price objective for the company. Finally, Barclays upped their target price on shares of nVent Electric from $74.00 to $85.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 2nd. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $81.60.

nVent Electric Price Performance

Shares of NYSE:NVT opened at $75.27 on Tuesday. The business has a fifty day moving average price of $71.74 and a 200-day moving average price of $61.36. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.82 and a quick ratio of 1.22. The company has a market capitalization of $12.49 billion, a PE ratio of 22.34, a PEG ratio of 1.63 and a beta of 1.35. nVent Electric plc has a 1-year low of $40.22 and a 1-year high of $78.98.

nVent Electric (NYSE:NVT) last released its quarterly earnings data on Tuesday, February 6th. The company reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.03. The business had revenue of $861.20 million during the quarter, compared to analyst estimates of $866.90 million. nVent Electric had a net margin of 17.38% and a return on equity of 17.53%. nVent Electric’s revenue was up 16.1% compared to the same quarter last year. During the same period last year, the business earned $0.66 EPS. As a group, equities analysts expect that nVent Electric plc will post 3.24 EPS for the current fiscal year.

nVent Electric Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Friday, April 26th will be given a $0.19 dividend. The ex-dividend date of this dividend is Thursday, April 25th. This represents a $0.76 annualized dividend and a yield of 1.01%. nVent Electric’s dividend payout ratio (DPR) is presently 22.55%.

Insider Buying and Selling at nVent Electric

In other news, insider Joseph A. Ruzynski sold 2,500 shares of the company’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $64.23, for a total transaction of $160,575.00. Following the transaction, the insider now directly owns 36,013 shares of the company’s stock, valued at $2,313,114.99. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, insider Joseph A. Ruzynski sold 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $64.23, for a total transaction of $160,575.00. Following the completion of the transaction, the insider now directly owns 36,013 shares of the company’s stock, valued at $2,313,114.99. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jerry W. Burris sold 4,008 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $63.39, for a total transaction of $254,067.12. Following the completion of the sale, the director now owns 43,072 shares in the company, valued at approximately $2,730,334.08. The disclosure for this sale can be found here. In the last three months, insiders have sold 400,252 shares of company stock worth $25,713,777. Insiders own 2.50% of the company’s stock.

nVent Electric Company 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.