nVent Electric plc (NYSE:NVT) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund lowered its holdings in nVent Electric plc (NYSE:NVT) by 3.9% in the fourth quarter, HoldingsChannel reports. The firm owned 306,795 shares of the company’s stock after selling 12,523 shares during the quarter. New York State Common Retirement Fund’s holdings in nVent Electric were worth $18,129,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. State of Michigan Retirement System lifted its stake 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 worth $2,352,000 after acquiring an additional 200 shares during the last quarter. Quent Capital LLC lifted its stake in nVent Electric by 123.2% in the fourth quarter. Quent Capital LLC now owns 424 shares of the company’s stock worth $25,000 after acquiring an additional 234 shares during the last quarter. Pinnacle Associates Ltd. lifted its stake in nVent Electric by 5.8% in the fourth quarter. Pinnacle Associates Ltd. now owns 4,281 shares of the company’s stock worth $253,000 after acquiring an additional 236 shares during the last quarter. Cookson Peirce & Co. Inc. lifted its stake in nVent Electric by 4.1% in the third quarter. Cookson Peirce & Co. Inc. now owns 7,012 shares of the company’s stock worth $372,000 after acquiring an additional 277 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. lifted its stake in nVent Electric by 3.6% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 8,917 shares of the company’s stock worth $472,000 after acquiring an additional 307 shares during the last quarter. Institutional investors and hedge funds own 90.05% of the company’s stock.

Insider Transactions at nVent Electric

In other news, CEO Beth Wozniak sold 198,211 shares of the stock in a transaction dated 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 transaction, the chief executive officer now directly owns 342 shares in the company, valued at approximately $21,987.18. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, insider Joseph A. Ruzynski sold 2,500 shares of the 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 sale, the insider now owns 36,013 shares of the company’s stock, valued at approximately $2,313,114.99. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Beth Wozniak sold 198,211 shares of the stock in a transaction that occurred 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 directly owns 342 shares of the company’s stock, valued at approximately $21,987.18. The disclosure for this sale can be found here. Insiders have sold a total of 400,252 shares of company stock worth $25,713,777 in the last three months. Company insiders own 2.50% of the company’s stock.

nVent Electric Price Performance

NYSE:NVT opened at $75.69 on Monday. The firm has a market cap of $12.56 billion, a price-to-earnings ratio of 22.46, a price-to-earnings-growth ratio of 1.63 and a beta of 1.35. 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 company’s 50-day moving average is $71.51 and its two-hundred day moving average is $61.21. nVent Electric plc has a 12-month low of $40.19 and a 12-month high of $78.98.

nVent Electric (NYSE:NVT) last released its earnings results on Tuesday, February 6th. The company reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.03. The company had revenue of $861.20 million for 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%. The firm’s quarterly revenue was up 16.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.66 EPS. Research analysts expect that nVent Electric plc will post 3.24 EPS for the current year.

nVent Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Friday, April 26th will be issued a dividend of $0.19 per share. The ex-dividend date of this dividend is Thursday, April 25th. This represents a $0.76 annualized dividend and a dividend yield of 1.00%. nVent Electric’s payout ratio is currently 22.55%.

Analyst Ratings Changes

A number of brokerages recently issued reports on NVT. Royal Bank of Canada lifted 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. Citigroup boosted their price objective on shares of nVent Electric from $71.00 to $91.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. The Goldman Sachs Group boosted their price objective on shares of nVent Electric from $69.00 to $77.00 and gave the stock a “buy” rating in a research report on Friday, March 15th. Deutsche Bank Aktiengesellschaft began coverage on shares of 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 boosted their price objective 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 investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price 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.