Louisiana State Employees Retirement System Decreases Stock Holdings in nVent Electric plc (NYSE:NVT)

Louisiana State Employees Retirement System decreased its holdings in shares of nVent Electric plc (NYSE:NVT) by 0.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,700 shares of the company’s stock after selling 400 shares during the period. Louisiana State Employees Retirement System’s holdings in nVent Electric were worth $3,115,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. MassMutual Private Wealth & Trust FSB raised its stake in nVent Electric by 26.5% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 773 shares of the company’s stock valued at $53,000 after purchasing an additional 162 shares during the last quarter. CIBC Asset Management Inc increased its stake in shares of nVent Electric by 3.6% in the 3rd quarter. CIBC Asset Management Inc now owns 4,823 shares of the company’s stock worth $339,000 after acquiring an additional 166 shares during the last quarter. Calamos Advisors LLC increased its stake in shares of nVent Electric by 1.6% in the 4th quarter. Calamos Advisors LLC now owns 11,468 shares of the company’s stock worth $782,000 after acquiring an additional 176 shares during the last quarter. Larson Financial Group LLC increased its stake in shares of nVent Electric by 91.9% in the 3rd quarter. Larson Financial Group LLC now owns 378 shares of the company’s stock worth $27,000 after acquiring an additional 181 shares during the last quarter. Finally, Huntington National Bank increased its stake in shares of nVent Electric by 57.3% in the 3rd quarter. Huntington National Bank now owns 612 shares of the company’s stock worth $43,000 after acquiring an additional 223 shares during the last quarter. Hedge funds and other institutional investors own 90.05% of the company’s stock.

Insider Activity at nVent Electric

In related news, Director Jerry W. Burris sold 6,558 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $80.00, for a total transaction of $524,640.00. Following the completion of the transaction, the director now directly owns 45,040 shares in the company, valued at $3,603,200. This trade represents a 12.71 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 2.50% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

NVT has been the subject of a number of recent research reports. Citigroup cut their target price on nVent Electric from $91.00 to $90.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Barclays raised their target price on nVent Electric from $76.00 to $88.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. Finally, Royal Bank of Canada raised their target price on nVent Electric from $85.00 to $86.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $86.33.

nVent Electric Stock Performance

NYSE NVT opened at $67.45 on Friday. The stock has a market cap of $11.12 billion, a PE ratio of 34.41, a P/E/G ratio of 3.01 and a beta of 1.26. The company has a current ratio of 1.73, a quick ratio of 1.36 and a debt-to-equity ratio of 0.65. nVent Electric plc has a twelve month low of $56.44 and a twelve month high of $86.57. The stock has a fifty day simple moving average of $70.04 and a 200-day simple moving average of $70.18.

nVent Electric (NYSE:NVT) last released its quarterly earnings results on Thursday, February 6th. The company reported $0.59 earnings per share 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%. Equities analysts anticipate that nVent Electric plc will post 3.03 earnings per share for the current year.

nVent Electric Increases Dividend

The firm also recently declared 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. The ex-dividend date was Friday, January 17th. This is a boost from nVent Electric’s previous quarterly dividend of $0.19. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.19%. nVent Electric’s dividend payout ratio is currently 40.82%.

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.