South Dakota Investment Council Takes $2.66 Million Position in nVent Electric plc (NYSE:NVT)

South Dakota Investment Council acquired a new stake in shares of nVent Electric plc (NYSE:NVT) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 44,944 shares of the company’s stock, valued at approximately $2,656,000.

A number of other large investors have also recently added to or reduced their stakes in NVT. Quent Capital LLC raised its holdings in shares of nVent Electric by 123.2% during the fourth quarter. Quent Capital LLC now owns 424 shares of the company’s stock worth $25,000 after purchasing an additional 234 shares during the period. HM Payson & Co. bought a new position in shares of nVent Electric during the 3rd quarter valued at about $26,000. Arlington Trust Co LLC acquired a new position in shares of nVent Electric in the third quarter worth about $30,000. Pacific Center for Financial Services acquired a new position in shares of nVent Electric in the third quarter worth about $32,000. Finally, Baystate Wealth Management LLC acquired a new position in shares of nVent Electric in the third quarter worth about $33,000. 90.05% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on NVT shares. The Goldman Sachs Group increased their price target 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. Citigroup raised their price objective 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. 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. 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 on the stock. Finally, Barclays lifted their price objective on nVent Electric from $74.00 to $85.00 and gave the company an “overweight” rating in a report on Tuesday, April 2nd. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, nVent Electric has a consensus rating of “Moderate Buy” and a consensus target price of $81.60.

Insiders Place Their Bets

In other nVent Electric news, insider Joseph A. Ruzynski sold 2,500 shares of the business’s stock in a transaction dated Wednesday, February 7th. The stock was 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 directly owns 36,013 shares of the company’s stock, valued at approximately $2,313,114.99. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other nVent Electric news, insider Joseph A. Ruzynski sold 2,500 shares of the business’s stock in a transaction dated Wednesday, February 7th. The stock was 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 directly owns 36,013 shares of the company’s stock, valued at approximately $2,313,114.99. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Beth Wozniak sold 198,211 shares of the business’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $64.29, for a total value of $12,742,985.19. Following the sale, the chief executive officer now directly owns 342 shares of the company’s stock, valued at $21,987.18. The disclosure for this sale can be found here. In the last three months, insiders sold 400,252 shares of company stock valued at $25,713,777. 2.50% of the stock is currently owned by insiders.

nVent Electric Stock Performance

nVent Electric stock opened at $73.72 on Thursday. The stock has a 50-day simple moving average of $71.04 and a 200 day simple moving average of $60.86. The company has a quick ratio of 1.22, a current ratio of 1.82 and a debt-to-equity ratio of 0.56. nVent Electric plc has a 12-month low of $40.19 and a 12-month high of $78.98. The stock has a market capitalization of $12.23 billion, a price-to-earnings ratio of 21.88, a P/E/G ratio of 1.56 and a beta of 1.35.

nVent Electric (NYSE:NVT) last released its quarterly 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. nVent Electric had a return on equity of 17.53% and a net margin of 17.38%. The business had revenue of $861.20 million during the quarter, compared to analysts’ expectations of $866.90 million. During the same period in the previous year, the business posted $0.66 earnings per share. The firm’s revenue for the quarter was up 16.1% compared to the same quarter last year. On average, research analysts anticipate that nVent Electric plc will post 3.24 earnings per share for the current fiscal year.

nVent Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Shareholders 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 yield of 1.03%. nVent Electric’s dividend payout ratio is currently 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.