California Public Employees Retirement System Has $19.60 Million Holdings in nVent Electric plc (NYSE:NVT)

California Public Employees Retirement System decreased its holdings in shares of nVent Electric plc (NYSE:NVT) by 3.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 287,485 shares of the company’s stock after selling 9,947 shares during the quarter. California Public Employees Retirement System’s holdings in nVent Electric were worth $19,595,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of NVT. Crews Bank & Trust acquired a new stake in nVent Electric during the 4th quarter worth $26,000. Tsfg LLC acquired a new stake in shares of nVent Electric during the fourth quarter worth $51,000. Raleigh Capital Management Inc. increased its holdings in nVent Electric by 547.4% in the fourth quarter. Raleigh Capital Management Inc. now owns 751 shares of the company’s stock valued at $51,000 after purchasing an additional 635 shares during the last quarter. MassMutual Private Wealth & Trust FSB lifted its stake in nVent Electric by 26.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 773 shares of the company’s stock valued at $53,000 after buying an additional 162 shares during the period. Finally, Blue Trust Inc. boosted its holdings in nVent Electric by 243.5% during the fourth quarter. Blue Trust Inc. now owns 869 shares of the company’s stock worth $61,000 after buying an additional 616 shares during the last quarter. 90.05% of the stock is owned by institutional investors.

nVent Electric Stock Down 6.3 %

Shares of NVT stock opened at $45.28 on Friday. nVent Electric plc has a 12-month low of $41.90 and a 12-month high of $86.57. The company has a quick ratio of 1.28, a current ratio of 1.73 and a debt-to-equity ratio of 0.65. The firm has a fifty day moving average of $59.82 and a 200-day moving average of $68.29. The company has a market capitalization of $7.47 billion, a price-to-earnings ratio of 23.10, a P/E/G ratio of 1.48 and a beta of 1.21.

nVent Electric (NYSE:NVT) last released its earnings results on Thursday, February 6th. The company reported $0.59 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.59. nVent Electric had a return on equity of 14.52% and a net margin of 10.09%. As a group, equities research analysts predict that nVent Electric plc will post 3.04 earnings per share for the current fiscal year.

nVent Electric Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 25th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date is Friday, April 25th. nVent Electric’s dividend payout ratio (DPR) is currently 40.82%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. KeyCorp lowered their price target on nVent Electric from $84.00 to $75.00 and set an “overweight” rating for the company in a research note on Friday, March 28th. Royal Bank of Canada upped their target price on shares of nVent Electric from $85.00 to $86.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Barclays reduced their price target on shares of nVent Electric from $75.00 to $70.00 and set an “overweight” rating on the stock in a research report on Friday. Seaport Res Ptn upgraded shares of nVent Electric from a “hold” rating to a “strong-buy” rating in a research report on Friday, March 21st. Finally, The Goldman Sachs Group dropped their price objective on nVent Electric from $86.00 to $74.00 and set a “buy” rating on the stock in a research note on Wednesday. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $77.50.

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.