39,200 nVent Electric PLC $NVT Shares Sold by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al lessened its holdings in shares of nVent Electric PLC (NYSE:NVT) by 93.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,700 shares of the company’s stock after selling 39,200 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in nVent Electric were worth $433,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Choreo LLC raised its holdings in nVent Electric by 2.8% during the third quarter. Choreo LLC now owns 3,122 shares of the company’s stock worth $501,000 after buying an additional 86 shares during the last quarter. Interchange Capital Partners LLC grew its holdings in shares of nVent Electric by 2.9% during the third quarter. Interchange Capital Partners LLC now owns 2,885 shares of the company’s stock valued at $463,000 after buying an additional 81 shares during the last quarter. Livelsberger Financial Advisory acquired a new position in shares of nVent Electric during the third quarter valued at about $28,000. North Dakota State Investment Board increased its position in shares of nVent Electric by 3.9% during the third quarter. North Dakota State Investment Board now owns 4,921 shares of the company’s stock worth $789,000 after acquiring an additional 186 shares in the last quarter. Finally, Asset Management One Co. Ltd. increased its position in shares of nVent Electric by 229.4% during the third quarter. Asset Management One Co. Ltd. now owns 95,220 shares of the company’s stock worth $15,277,000 after acquiring an additional 66,316 shares in the last quarter. Institutional investors and hedge funds own 90.05% of the company’s stock.

nVent Electric Trading Up 7.8%

NYSE NVT opened at $106.10 on Friday. The company has a current ratio of 2.40, a quick ratio of 1.93 and a debt-to-equity ratio of 0.53. The business has a fifty day simple moving average of $148.90 and a 200 day simple moving average of $144.49. nVent Electric PLC has a 12 month low of $93.22 and a 12 month high of $184.64. The firm has a market capitalization of $17.15 billion, a P/E ratio of 25.57, a PEG ratio of 0.54 and a beta of 1.39.

nVent Electric (NYSE:NVT) last posted its quarterly earnings data on Friday, October 30th. The company reported $1.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.40 by $0.12. nVent Electric had a net margin of 12.84% and a return on equity of 20.82%. The firm had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.43 billion. During the same period in the previous year, the firm earned $0.91 EPS. The business’s revenue for the quarter was up 43.7% compared to the same quarter last year. On average, analysts predict that nVent Electric PLC will post 5.36 EPS for the current fiscal year.

nVent Electric Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 6th. Investors of record on Friday, October 23rd were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend was Friday, October 23rd. nVent Electric’s dividend payout ratio (DPR) is presently 20.24%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Citigroup lowered their target price on shares of nVent Electric from $228.00 to $200.00 and set a “buy” rating on the stock in a report on Monday, November 2nd. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $200.00 price target on shares of nVent Electric in a research report on Saturday, August 1st. Seaport Research Partners reiterated a “neutral” rating and set a $225.00 price target on shares of nVent Electric in a research note on Monday, October 12th. Evercore reissued an “outperform” rating and set a $210.00 price objective on shares of nVent Electric in a report on Monday, August 3rd. Finally, Clear Str raised nVent Electric to a “strong-buy” rating in a report on Monday, July 13th. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $197.82.

Insider Buying and Selling at nVent Electric

In related news, insider Robert van der Kolk sold 5,858 shares of the firm’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $164.32, for a total transaction of $962,586.56. Following the transaction, the insider directly owned 27,387 shares of the company’s stock, valued at $4,500,231.84. This trade represents a 17.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.70% of the stock is owned by insiders.

nVent Electric Company Profile

nVent Electric plc designs and manufactures products and solutions that protect and connect electrical systems. Its offerings include electrical enclosures, cable management and fastening products, grounding and bonding solutions, and systems for managing heat in electrical and industrial applications.

The company serves customers across industries such as data centers, energy, infrastructure, commercial construction and manufacturing. Its products are marketed under brands including Hoffman, ERICO, CADDY, Raychem and Schroff, and it serves customers in markets around the world.

nVent became an independent, publicly traded company in 2018 after its separation from Pentair.