Nisa Investment Advisors LLC Has $1.32 Million Stock Position in nVent Electric plc (NYSE:NVT)

Nisa Investment Advisors LLC reduced its stake in shares of nVent Electric plc (NYSE:NVT) by 25.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 22,392 shares of the company’s stock after selling 7,841 shares during the period. Nisa Investment Advisors LLC’s holdings in nVent Electric were worth $1,323,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. Prime Capital Investment Advisors LLC raised its holdings in nVent Electric by 45.0% during the 4th quarter. Prime Capital Investment Advisors LLC now owns 10,395 shares of the company’s stock worth $614,000 after buying an additional 3,226 shares during the period. Allworth Financial LP raised its holdings in nVent Electric by 162.3% during the 4th quarter. Allworth Financial LP now owns 1,204 shares of the company’s stock worth $71,000 after buying an additional 745 shares during the period. International Assets Investment Management LLC acquired a new stake in nVent Electric during the 4th quarter worth approximately $821,000. State of Michigan Retirement System raised its holdings in nVent Electric by 0.5% during the 4th quarter. State of Michigan Retirement System now owns 39,806 shares of the company’s stock worth $2,352,000 after buying an additional 200 shares during the period. Finally, PFG Advisors raised its holdings in nVent Electric by 9.0% during the 4th quarter. PFG Advisors now owns 7,669 shares of the company’s stock worth $453,000 after buying an additional 632 shares during the period. 90.05% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other nVent Electric news, insider Joseph A. Ruzynski sold 2,500 shares of nVent Electric stock in a transaction 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 document filed with the SEC, which is available at the SEC website. In other news, insider Michael B. Faulconer sold 10,961 shares of nVent Electric stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $67.33, for a total transaction of $738,004.13. Following the completion of the sale, the insider now owns 33,109 shares of the company’s stock, valued at $2,229,228.97. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Joseph A. Ruzynski sold 2,500 shares of nVent Electric stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $64.23, for a total value of $160,575.00. Following the sale, the insider now directly owns 36,013 shares of the company’s stock, valued at approximately $2,313,114.99. The disclosure for this sale can be found here. Insiders sold a total of 400,252 shares of company stock valued at $25,713,777 over the last ninety days. 2.40% of the stock is currently owned by company insiders.

nVent Electric Price Performance

NYSE:NVT opened at $74.17 on Monday. nVent Electric plc has a 1-year low of $40.19 and a 1-year high of $78.98. The company has a current ratio of 1.82, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56. The firm has a fifty day simple moving average of $69.57 and a 200 day simple moving average of $59.79. The stock has a market capitalization of $12.31 billion, a PE ratio of 22.01, a P/E/G ratio of 1.59 and a beta of 1.35.

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

nVent Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Friday, April 26th will be given a dividend of $0.19 per share. The ex-dividend date is Thursday, April 25th. This represents a $0.76 dividend on an annualized basis and a yield of 1.02%. nVent Electric’s dividend payout ratio (DPR) is 22.55%.

Wall Street Analysts Forecast Growth

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

About nVent Electric

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.