State of Alaska Department of Revenue Decreases Holdings in nVent Electric plc (NYSE:NVT)

State of Alaska Department of Revenue cut its holdings in shares of nVent Electric plc (NYSE:NVT) by 1.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 33,562 shares of the company’s stock after selling 520 shares during the quarter. State of Alaska Department of Revenue’s holdings in nVent Electric were worth $2,286,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Nordea Investment Management AB raised its stake in shares of nVent Electric by 16.9% during the fourth quarter. Nordea Investment Management AB now owns 93,172 shares of the company’s stock worth $6,378,000 after acquiring an additional 13,483 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of nVent Electric by 1.1% during the third quarter. Geode Capital Management LLC now owns 2,773,168 shares of the company’s stock worth $194,894,000 after acquiring an additional 29,794 shares in the last quarter. Harbor Capital Advisors Inc. purchased a new position in shares of nVent Electric during the fourth quarter worth approximately $1,520,000. TT International Asset Management LTD raised its stake in shares of nVent Electric by 20.4% during the fourth quarter. TT International Asset Management LTD now owns 108,395 shares of the company’s stock worth $7,388,000 after acquiring an additional 18,376 shares in the last quarter. Finally, LVM Capital Management Ltd. MI increased its stake in shares of nVent Electric by 8.1% in the fourth quarter. LVM Capital Management Ltd. MI now owns 151,221 shares of the company’s stock worth $10,307,000 after buying an additional 11,349 shares during the period. 90.05% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Jerry W. Burris sold 6,558 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $80.00, for a total transaction of $524,640.00. Following the sale, the director now owns 45,040 shares in the company, valued at approximately $3,603,200. The trade was a 12.71 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 2.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on NVT. Barclays lifted their target price on shares of nVent Electric from $76.00 to $88.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. Citigroup decreased their target price on shares of nVent Electric from $91.00 to $90.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Royal Bank of Canada lifted their target price on shares of nVent Electric from $85.00 to $86.00 and gave the stock an “outperform” rating in a research note on Friday. Finally, KeyCorp lifted their target price on shares of nVent Electric from $80.00 to $84.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, nVent Electric presently has an average rating of “Buy” and a consensus target price of $86.33.

nVent Electric Stock Up 0.8 %

Shares of nVent Electric stock opened at $68.43 on Tuesday. The company has a current ratio of 1.73, a quick ratio of 1.36 and a debt-to-equity ratio of 0.65. The company’s fifty day simple moving average is $70.68 and its two-hundred day simple moving average is $70.24. The company has a market cap of $11.28 billion, a P/E ratio of 34.91, a PEG ratio of 3.01 and a beta of 1.26. nVent Electric plc has a 12-month low of $56.44 and a 12-month high of $86.57.

nVent Electric (NYSE:NVT) last issued its quarterly earnings data on Thursday, February 6th. The company reported $0.59 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.59. nVent Electric had a net margin of 10.09% and a return on equity of 14.52%. Research analysts anticipate that nVent Electric plc will post 3.03 EPS for the current year.

nVent Electric Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Friday, January 17th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date was Friday, January 17th. This is a boost from nVent Electric’s previous quarterly dividend of $0.19. nVent Electric’s payout ratio is 40.82%.

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.