California Public Employees Retirement System Has $19.32 Million Stock Holdings in nVent Electric plc (NYSE:NVT)

California Public Employees Retirement System cut its position in shares of nVent Electric plc (NYSE:NVT) by 6.1% during the fourth quarter, Holdings Channel reports. The institutional investor owned 326,979 shares of the company’s stock after selling 21,396 shares during the quarter. California Public Employees Retirement System’s holdings in nVent Electric were worth $19,321,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. CWM LLC boosted its holdings in nVent Electric by 82.3% during the third quarter. CWM LLC now owns 2,850 shares of the company’s stock valued at $151,000 after purchasing an additional 1,287 shares in the last quarter. SG Americas Securities LLC boosted its holdings in nVent Electric by 160.6% during the third quarter. SG Americas Securities LLC now owns 31,658 shares of the company’s stock valued at $1,678,000 after purchasing an additional 19,509 shares in the last quarter. Handelsbanken Fonder AB boosted its holdings in nVent Electric by 100.0% during the third quarter. Handelsbanken Fonder AB now owns 49,200 shares of the company’s stock valued at $2,607,000 after purchasing an additional 24,600 shares in the last quarter. Commonwealth Equity Services LLC boosted its holdings in nVent Electric by 9.3% during the third quarter. Commonwealth Equity Services LLC now owns 15,565 shares of the company’s stock valued at $825,000 after purchasing an additional 1,325 shares in the last quarter. Finally, Busey Trust CO boosted its holdings in nVent Electric by 0.5% during the third quarter. Busey Trust CO now owns 321,724 shares of the company’s stock valued at $17,048,000 after purchasing an additional 1,685 shares in the last quarter. 90.05% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Insider Buying and Selling

In related 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 value of $160,575.00. Following the completion of the transaction, the insider now owns 36,013 shares in the company, valued at approximately $2,313,114.99. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other nVent Electric news, CEO Beth Wozniak sold 198,211 shares of the company’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $64.29, for a total transaction of $12,742,985.19. Following the completion of the sale, the chief executive officer now owns 342 shares in the company, valued at approximately $21,987.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Joseph A. Ruzynski sold 2,500 shares of the company’s 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 sale, the insider now 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 400,252 shares of company stock worth $25,713,777 in the last quarter. Insiders own 2.50% of the company’s stock.

nVent Electric Stock Performance

NVT stock opened at $75.69 on Monday. 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 50 day moving average price of $71.51 and a 200 day moving average price of $61.21. nVent Electric plc has a fifty-two week low of $40.19 and a fifty-two week high of $78.98. The stock has a market capitalization of $12.56 billion, a PE ratio of 22.46, a price-to-earnings-growth ratio of 1.63 and a beta of 1.35.

nVent Electric (NYSE:NVT) last posted its quarterly earnings data on Tuesday, February 6th. The company reported $0.78 earnings per share for the quarter, topping 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 firm had revenue of $861.20 million during the quarter, compared to analysts’ expectations of $866.90 million. During the same quarter in the previous year, the company posted $0.66 EPS. nVent Electric’s revenue was up 16.1% on a year-over-year basis. Analysts forecast that nVent Electric plc will post 3.24 EPS for the current year.

nVent Electric Dividend Announcement

The business 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. This represents a $0.76 annualized dividend and a yield of 1.00%. The ex-dividend date is Thursday, April 25th. nVent Electric’s dividend payout ratio (DPR) is presently 22.55%.

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.