nVent Electric plc (NYSE:NVT) Shares Sold by Teacher Retirement System of Texas

Teacher Retirement System of Texas lowered its position in nVent Electric plc (NYSE:NVT) by 43.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 28,553 shares of the company’s stock after selling 22,346 shares during the period. Teacher Retirement System of Texas’ holdings in nVent Electric were worth $1,946,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Trillium Asset Management LLC lifted its stake in nVent Electric by 11.9% during the 4th quarter. Trillium Asset Management LLC now owns 244,682 shares of the company’s stock valued at $16,678,000 after acquiring an additional 26,093 shares during the period. Xponance Inc. raised its holdings in shares of nVent Electric by 9.8% during the fourth quarter. Xponance Inc. now owns 19,784 shares of the company’s stock worth $1,348,000 after purchasing an additional 1,758 shares during the last quarter. Tocqueville Asset Management L.P. lifted its position in nVent Electric by 52.6% during the fourth quarter. Tocqueville Asset Management L.P. now owns 113,160 shares of the company’s stock valued at $7,713,000 after purchasing an additional 38,990 shares during the period. William Blair Investment Management LLC boosted its holdings in nVent Electric by 8.8% in the fourth quarter. William Blair Investment Management LLC now owns 2,591,405 shares of the company’s stock valued at $176,630,000 after purchasing an additional 210,690 shares during the last quarter. Finally, Corient Private Wealth LLC grew its position in nVent Electric by 198.1% during the 4th quarter. Corient Private Wealth LLC now owns 71,873 shares of the company’s stock worth $4,899,000 after purchasing an additional 47,761 shares during the period. Institutional investors and hedge funds own 90.05% of the company’s stock.

nVent Electric Trading Down 2.1 %

Shares of NVT stock opened at $54.61 on Friday. nVent Electric plc has a 1-year low of $51.99 and a 1-year high of $86.57. The company has a market cap of $9.01 billion, a price-to-earnings ratio of 27.86, a PEG ratio of 1.48 and a beta of 1.31. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.73 and a quick ratio of 1.28. The stock has a 50 day simple moving average of $62.58 and a 200-day simple moving average of $68.82.

nVent Electric (NYSE:NVT) last issued its quarterly earnings results on Thursday, February 6th. The company reported $0.59 EPS for the quarter, hitting the consensus estimate of $0.59. nVent Electric had a net margin of 10.09% and a return on equity of 14.52%. On average, equities research analysts expect that nVent Electric plc will post 3.04 EPS for the current fiscal year.

nVent Electric Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 25th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date is Friday, April 25th. nVent Electric’s dividend payout ratio is presently 40.82%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on NVT. Royal Bank of Canada boosted their price objective on nVent Electric from $85.00 to $86.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Barclays decreased their price target on nVent Electric from $83.00 to $75.00 and set an “overweight” rating for the company in a report on Wednesday. Seaport Res Ptn raised shares of nVent Electric from a “hold” rating to a “strong-buy” rating in a research note on Friday, March 21st. CL King raised shares of nVent Electric from a “neutral” rating to a “buy” rating and set a $70.00 target price for the company in a report on Monday, March 17th. Finally, Citigroup lowered their price target on shares of nVent Electric from $91.00 to $90.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, nVent Electric currently has an average rating of “Buy” and an average target price of $82.00.

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.