nVent Electric PLC (NVT) Holdings Cut by Public Employees Retirement Association of Colorado

Public Employees Retirement Association of Colorado lowered its holdings in shares of nVent Electric PLC (NYSE:NVT) by 19.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 23,942 shares of the company’s stock after selling 5,870 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in nVent Electric were worth $646,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc lifted its position in nVent Electric by 1.2% during the third quarter. Vanguard Group Inc now owns 14,253,847 shares of the company’s stock worth $387,135,000 after buying an additional 174,628 shares in the last quarter. American Century Companies Inc. lifted its position in nVent Electric by 81.2% during the fourth quarter. American Century Companies Inc. now owns 4,699,387 shares of the company’s stock worth $105,548,000 after buying an additional 2,106,312 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in nVent Electric by 2.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,573,994 shares of the company’s stock worth $57,806,000 after buying an additional 72,738 shares in the last quarter. Norges Bank purchased a new position in nVent Electric during the fourth quarter worth approximately $45,331,000. Finally, Geode Capital Management LLC lifted its position in nVent Electric by 8.7% during the fourth quarter. Geode Capital Management LLC now owns 1,896,604 shares of the company’s stock worth $42,597,000 after buying an additional 151,472 shares in the last quarter. Institutional investors own 88.84% of the company’s stock.

A number of brokerages recently commented on NVT. Zacks Investment Research upgraded nVent Electric from a “hold” rating to a “buy” rating and set a $28.00 price objective on the stock in a research report on Thursday. Buckingham Research set a $31.00 price objective on nVent Electric and gave the stock a “buy” rating in a research report on Friday, April 26th. ValuEngine downgraded nVent Electric from a “hold” rating to a “sell” rating in a research report on Monday, April 1st. Finally, KeyCorp reiterated a “buy” rating and set a $30.00 price objective (up previously from $29.00) on shares of nVent Electric in a research report on Wednesday, February 27th. One analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $28.86.



In related news, Director Trian Fund Management, L.P. sold 366,901 shares of nVent Electric stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $26.03, for a total value of $9,550,433.03. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.60% of the company’s stock.

Shares of NYSE NVT opened at $25.37 on Thursday. nVent Electric PLC has a twelve month low of $19.71 and a twelve month high of $29.84. The company has a quick ratio of 1.22, a current ratio of 1.82 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $4.38 billion and a PE ratio of 14.58.

nVent Electric (NYSE:NVT) last issued its quarterly earnings data on Thursday, April 25th. The company reported $0.39 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.38 by $0.01. nVent Electric had a return on equity of 11.66% and a net margin of 10.62%. The business had revenue of $538.00 million during the quarter, compared to analysts’ expectations of $546.43 million. The firm’s revenue was down .2% compared to the same quarter last year. As a group, research analysts anticipate that nVent Electric PLC will post 1.87 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 2nd. Stockholders of record on Friday, July 19th will be paid a $0.175 dividend. The ex-dividend date is Thursday, July 18th. This represents a $0.70 dividend on an annualized basis and a dividend yield of 2.76%. nVent Electric’s payout ratio is presently 40.23%.

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nVent Electric Company Profile

nVent Electric plc designs, manufactures, markets, installs, and services electrical connection and protection products in the United States, Canada, Mexico, Europe, the Middle East, Africa, and internationally. The company operates through three segments: Enclosures, Thermal Management, and Electrical & Fastening Solutions.

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Institutional Ownership by Quarter for nVent Electric (NYSE:NVT)

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