nVent Electric PLC $NVT Shares Sold by Strs Ohio

Strs Ohio lowered its holdings in nVent Electric PLC (NYSE:NVT) by 83.2% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 3,895 shares of the company’s stock after selling 19,288 shares during the quarter. Strs Ohio’s holdings in nVent Electric were worth $384,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in NVT. Norges Bank acquired a new position in shares of nVent Electric in the 2nd quarter valued at $234,290,000. Massachusetts Financial Services Co. MA grew its holdings in shares of nVent Electric by 146.0% during the second quarter. Massachusetts Financial Services Co. MA now owns 3,195,543 shares of the company’s stock worth $234,074,000 after purchasing an additional 1,896,749 shares during the last quarter. William Blair Investment Management LLC increased its position in shares of nVent Electric by 29.5% during the second quarter. William Blair Investment Management LLC now owns 3,113,936 shares of the company’s stock worth $228,096,000 after purchasing an additional 709,464 shares in the last quarter. Champlain Investment Partners LLC lifted its holdings in shares of nVent Electric by 26.8% in the 2nd quarter. Champlain Investment Partners LLC now owns 2,260,240 shares of the company’s stock valued at $165,563,000 after purchasing an additional 477,135 shares during the last quarter. Finally, Johnson Investment Counsel Inc. boosted its position in shares of nVent Electric by 2.5% in the 2nd quarter. Johnson Investment Counsel Inc. now owns 1,747,061 shares of the company’s stock valued at $127,972,000 after purchasing an additional 43,036 shares during the period. Hedge funds and other institutional investors own 90.05% of the company’s stock.

nVent Electric Stock Down 2.9%

NVT opened at $112.25 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.57 and a quick ratio of 1.11. nVent Electric PLC has a 12 month low of $41.71 and a 12 month high of $117.52. The stock has a market capitalization of $18.11 billion, a P/E ratio of 30.92, a P/E/G ratio of 1.24 and a beta of 1.34. The business has a 50 day simple moving average of $106.45 and a 200-day simple moving average of $99.03.

nVent Electric (NYSE:NVT) last announced its quarterly earnings data on Friday, October 31st. The company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.03. nVent Electric had a return on equity of 14.29% and a net margin of 16.83%.The firm had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same quarter in the prior year, the company posted $0.63 earnings per share. nVent Electric’s quarterly revenue was up 34.8% on a year-over-year basis. On average, equities analysts anticipate that nVent Electric PLC will post 3.04 earnings per share for the current fiscal year.

nVent Electric Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 6th. Shareholders of record on Friday, January 23rd will be given a dividend of $0.21 per share. The ex-dividend date is Friday, January 23rd. This is an increase from nVent Electric’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a yield of 0.7%. nVent Electric’s dividend payout ratio (DPR) is currently 23.14%.

Insider Buying and Selling

In related news, EVP Lynnette R. Heath sold 32,943 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $113.04, for a total value of $3,723,876.72. Following the completion of the transaction, the executive vice president directly owned 30,562 shares of the company’s stock, valued at $3,454,728.48. This trade represents a 51.87% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Sara E. Zawoyski sold 115,557 shares of the business’s stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $112.78, for a total value of $13,032,518.46. Following the sale, the insider owned 66,680 shares in the company, valued at approximately $7,520,170.40. The trade was a 63.41% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 163,228 shares of company stock valued at $18,345,001 in the last 90 days. 1.80% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

NVT has been the topic of several research analyst reports. The Goldman Sachs Group lifted their price target on nVent Electric from $111.00 to $140.00 and gave the stock a “buy” rating in a research report on Monday, November 3rd. UBS Group assumed coverage on shares of nVent Electric in a research note on Thursday, November 20th. They set a “buy” rating and a $128.00 target price for the company. KeyCorp boosted their price target on nVent Electric from $103.00 to $114.00 and gave the company an “overweight” rating in a research report on Tuesday, October 14th. Barclays increased their price objective on nVent Electric from $130.00 to $140.00 and gave the stock an “overweight” rating in a research report on Thursday, December 4th. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $136.00 price target on shares of nVent Electric in a research note on Thursday, January 15th. Nine investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, nVent Electric currently has a consensus rating of “Buy” and an average target price of $123.63.

nVent Electric Company Profile

nVent Electric PLC is a global manufacturer of electrical connection, protection and thermal management solutions. The company designs, engineers and produces a broad portfolio of products aimed at enhancing safety, reliability and performance in electrical systems across a variety of industries. Its core offerings include electrical enclosures, heat tracing systems, grounding and bonding products, cable management, and fastening solutions. nVent serves markets such as commercial and industrial construction, oil and gas, telecommunications, data centers, utilities, and renewable energy.

The company’s electrical enclosures and housing solutions protect sensitive components from environmental hazards, while its Raychem brand heat tracing products provide freeze protection and temperature maintenance for critical piping and equipment.