State of Tennessee Department of Treasury Lowers Position in nVent Electric plc (NYSE:NVT)

State of Tennessee Department of Treasury trimmed its position in nVent Electric plc (NYSE:NVT) by 2.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 68,158 shares of the company’s stock after selling 1,923 shares during the period. State of Tennessee Department of Treasury’s holdings in nVent Electric were worth $4,646,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. World Investment Advisors LLC purchased a new stake in shares of nVent Electric in the 3rd quarter worth about $314,000. Wilmington Savings Fund Society FSB purchased a new stake in nVent Electric in the third quarter worth about $124,000. Tidal Investments LLC increased its stake in shares of nVent Electric by 42.0% during the third quarter. Tidal Investments LLC now owns 46,016 shares of the company’s stock valued at $3,233,000 after purchasing an additional 13,621 shares in the last quarter. Franklin Resources Inc. lifted its holdings in shares of nVent Electric by 22.1% during the third quarter. Franklin Resources Inc. now owns 7,020,425 shares of the company’s stock valued at $527,374,000 after purchasing an additional 1,269,335 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its position in shares of nVent Electric by 1.7% in the 3rd quarter. Principal Financial Group Inc. now owns 1,763,254 shares of the company’s stock worth $123,891,000 after purchasing an additional 28,876 shares in the last quarter. Institutional investors own 90.05% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. CL King upgraded nVent Electric from a “neutral” rating to a “buy” rating and set a $70.00 price objective for the company in a research note on Monday, March 17th. Seaport Res Ptn raised nVent Electric from a “hold” rating to a “strong-buy” rating in a research report on Friday, March 21st. The Goldman Sachs Group cut their price objective on shares of nVent Electric from $86.00 to $74.00 and set a “buy” rating on the stock in a research report on Wednesday, April 2nd. Royal Bank of Canada lifted their target price on shares of nVent Electric from $85.00 to $86.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Finally, KeyCorp cut their price target on shares of nVent Electric from $75.00 to $60.00 and set an “overweight” rating on the stock in a report on Tuesday, April 8th. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $69.00.

nVent Electric Price Performance

NVT opened at $54.86 on Friday. The company’s 50-day simple moving average is $54.37 and its two-hundred day simple moving average is $65.99. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.28 and a current ratio of 1.73. The stock has a market capitalization of $9.03 billion, a P/E ratio of 27.99, a P/E/G ratio of 1.48 and a beta of 1.21. nVent Electric plc has a 52-week low of $41.71 and a 52-week high of $86.57.

nVent Electric (NYSE:NVT) last issued its quarterly earnings data on Thursday, February 6th. The company reported $0.59 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.59. nVent Electric had a net margin of 10.09% and a return on equity of 14.52%. As a group, analysts predict that nVent Electric plc will post 3.04 EPS for the current year.

nVent Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 25th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date is Friday, April 25th. nVent Electric’s dividend payout ratio (DPR) is presently 40.82%.

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.