New York State Teachers Retirement System Sells 25,000 Shares of nVent Electric plc (NYSE:NVT)

New York State Teachers Retirement System lowered its holdings in nVent Electric plc (NYSE:NVT) by 10.2% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 220,741 shares of the company’s stock after selling 25,000 shares during the quarter. New York State Teachers Retirement System owned 0.13% of nVent Electric worth $16,911,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Banque Cantonale Vaudoise acquired a new stake in shares of nVent Electric in the first quarter worth $26,000. Livelsberger Financial Advisory bought a new position in shares of nVent Electric during the 4th quarter worth about $28,000. ORG Partners LLC acquired a new position in shares of nVent Electric during the second quarter valued at about $31,000. Rise Advisors LLC bought a new stake in shares of nVent Electric in the first quarter valued at about $32,000. Finally, Smithfield Trust Co grew its position in nVent Electric by 650.0% during the fourth quarter. Smithfield Trust Co now owns 630 shares of the company’s stock worth $36,000 after buying an additional 546 shares in the last quarter. 90.05% of the stock is owned by institutional investors.

nVent Electric Price Performance

NVT stock traded up $2.08 during trading on Friday, hitting $67.44. The company had a trading volume of 928,438 shares, compared to its average volume of 1,514,795. The company has a fifty day moving average price of $72.42 and a two-hundred day moving average price of $73.20. nVent Electric plc has a fifty-two week low of $45.60 and a fifty-two week high of $86.57. The company has a market cap of $11.20 billion, a P/E ratio of 19.57, a P/E/G ratio of 1.52 and a beta of 1.31. The company has a current ratio of 1.99, a quick ratio of 1.35 and a debt-to-equity ratio of 0.54.

nVent Electric (NYSE:NVT) last issued its earnings results on Tuesday, August 6th. The company reported $0.82 EPS for the quarter, missing the consensus estimate of $0.83 by ($0.01). nVent Electric had a net margin of 17.02% and a return on equity of 17.47%. The firm had revenue of $880.30 million during the quarter, compared to analyst estimates of $892.89 million. During the same quarter in the prior year, the firm posted $0.77 EPS. The firm’s revenue for the quarter was up 9.6% on a year-over-year basis. Equities research analysts expect that nVent Electric plc will post 3.27 earnings per share for the current fiscal year.

Insider Buying and Selling at nVent Electric

In other news, Director Herbert K. Parker bought 7,566 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was bought at an average price of $65.71 per share, for a total transaction of $497,161.86. Following the completion of the purchase, the director now owns 34,524 shares of the company’s stock, valued at approximately $2,268,572.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Michael B. Faulconer sold 20,004 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $63.34, for a total value of $1,267,053.36. Following the completion of the transaction, the insider now owns 19,766 shares in the company, valued at approximately $1,251,978.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Herbert K. Parker acquired 7,566 shares of nVent Electric stock in a transaction on Thursday, August 15th. The shares were purchased at an average cost of $65.71 per share, for a total transaction of $497,161.86. Following the acquisition, the director now owns 34,524 shares in the company, valued at approximately $2,268,572.04. The disclosure for this purchase can be found here. Company insiders own 2.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on NVT. Barclays upped their price target on nVent Electric from $85.00 to $95.00 and gave the company an “overweight” rating in a report on Tuesday, June 4th. Citigroup raised their target price on nVent Electric from $91.00 to $92.00 and gave the stock a “buy” rating in a research report on Monday, May 6th. The Goldman Sachs Group boosted their price target on shares of nVent Electric from $77.00 to $87.00 and gave the company a “buy” rating in a report on Monday, May 6th. Finally, Royal Bank of Canada dropped their price objective on shares of nVent Electric from $88.00 to $82.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, nVent Electric presently has a consensus rating of “Buy” and a consensus target price of $87.80.

nVent Electric Company 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.