Commonwealth of Pennsylvania Public School Empls Retrmt SYS Sells 239 Shares of nVent Electric plc (NYSE:NVT)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS cut its stake in shares of nVent Electric plc (NYSE:NVT) by 0.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 36,400 shares of the company’s stock after selling 239 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in nVent Electric were worth $2,481,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Franklin Resources Inc. grew its stake in nVent Electric by 22.1% during the third quarter. Franklin Resources Inc. now owns 7,020,425 shares of the company’s stock valued at $527,374,000 after acquiring an additional 1,269,335 shares in the last quarter. State Street Corp boosted its holdings in nVent Electric by 0.9% in the 3rd quarter. State Street Corp now owns 5,031,623 shares of the company’s stock valued at $353,522,000 after purchasing an additional 42,465 shares during the period. Geode Capital Management LLC grew its position in shares of nVent Electric by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 2,773,168 shares of the company’s stock valued at $194,894,000 after purchasing an additional 29,794 shares in the last quarter. William Blair Investment Management LLC increased its holdings in shares of 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 worth $176,630,000 after purchasing an additional 210,690 shares during the period. Finally, Janus Henderson Group PLC raised its position in shares of nVent Electric by 23.6% in the third quarter. Janus Henderson Group PLC now owns 2,441,154 shares of the company’s stock worth $171,492,000 after buying an additional 466,042 shares in the last quarter. 90.05% of the stock is currently owned by institutional investors.

nVent Electric Price Performance

Shares of nVent Electric stock opened at $58.72 on Tuesday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.28 and a current ratio of 1.73. nVent Electric plc has a 52-week low of $51.99 and a 52-week high of $86.57. The company has a fifty day moving average of $63.43 and a 200-day moving average of $69.03. The stock has a market capitalization of $9.69 billion, a price-to-earnings ratio of 29.96, a price-to-earnings-growth ratio of 1.48 and a beta of 1.31.

nVent Electric (NYSE:NVT) last announced 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 return on equity of 14.52% and a net margin of 10.09%. Equities research analysts expect that nVent Electric plc will post 3.04 EPS for the current year.

nVent Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 25th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date is Friday, April 25th. nVent Electric’s dividend payout ratio (DPR) is presently 40.82%.

Wall Street Analyst Weigh In

NVT has been the subject of several recent analyst reports. Royal Bank of Canada boosted their target price on nVent Electric from $85.00 to $86.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Seaport Res Ptn upgraded shares of nVent Electric from a “hold” rating to a “strong-buy” rating in a research report on Friday. Citigroup dropped their target price on shares of nVent Electric from $91.00 to $90.00 and set a “buy” rating for the company in a research report on Monday, January 13th. CL King raised shares of nVent Electric from a “neutral” rating to a “buy” rating and set a $70.00 price target on the stock in a report on Monday, March 17th. Finally, Barclays dropped their price objective on shares of nVent Electric from $88.00 to $83.00 and set an “overweight” rating for the company in a report on Monday, March 3rd. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, nVent Electric has an average rating of “Buy” and a consensus price target of $83.33.

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.