Teachers Retirement System of The State of Kentucky Sells 1,450 Shares of nVent Electric plc (NYSE:NVT)

Teachers Retirement System of The State of Kentucky reduced its position in shares of nVent Electric plc (NYSE:NVT) by 2.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 52,141 shares of the company’s stock after selling 1,450 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in nVent Electric were worth $3,663,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. State Street Corp grew its holdings in shares of nVent Electric by 0.9% during the third quarter. State Street Corp now owns 5,031,623 shares of the company’s stock worth $353,522,000 after purchasing an additional 42,465 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of nVent Electric by 16.0% during the second quarter. Massachusetts Financial Services Co. MA now owns 4,884,487 shares of the company’s stock worth $374,201,000 after purchasing an additional 673,990 shares during the last quarter. Geode Capital Management LLC grew its holdings 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 purchasing an additional 29,794 shares during the last quarter. Janus Henderson Group PLC grew its holdings in shares of nVent Electric by 23.6% during the third quarter. Janus Henderson Group PLC now owns 2,441,154 shares of the company’s stock worth $171,492,000 after purchasing an additional 466,042 shares during the last quarter. Finally, Clean Energy Transition LLP grew its holdings in shares of nVent Electric by 56.5% during the third quarter. Clean Energy Transition LLP now owns 2,254,633 shares of the company’s stock worth $158,411,000 after purchasing an additional 813,909 shares during the last quarter. 90.05% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on NVT. Royal Bank of Canada reduced their price target on nVent Electric from $82.00 to $80.00 and set an “outperform” rating on the stock in a report on Monday, November 4th. KeyCorp lifted their price objective on nVent Electric from $80.00 to $84.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Citigroup lifted their price objective on nVent Electric from $78.00 to $91.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Finally, Barclays lifted their price objective on nVent Electric from $76.00 to $88.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, nVent Electric has a consensus rating of “Buy” and a consensus price target of $85.50.

Insider Buying and Selling at nVent Electric

In other news, CAO Randolph A. Wacker sold 8,022 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $75.87, for a total transaction of $608,629.14. Following the completion of the sale, the chief accounting officer now owns 25,993 shares in the company, valued at $1,972,088.91. The trade was a 23.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Jon D. Lammers sold 67,297 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $76.07, for a total value of $5,119,282.79. Following the sale, the executive vice president now owns 58,121 shares of the company’s stock, valued at approximately $4,421,264.47. This represents a 53.66 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 96,382 shares of company stock valued at $7,365,956. 2.50% of the stock is currently owned by company insiders.

nVent Electric Price Performance

Shares of NVT opened at $74.97 on Friday. nVent Electric plc has a 52-week low of $55.19 and a 52-week high of $86.57. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.36 and a current ratio of 1.83. The business’s 50 day moving average price is $74.96 and its two-hundred day moving average price is $72.78. The firm has a market cap of $12.36 billion, a PE ratio of 21.99, a price-to-earnings-growth ratio of 3.88 and a beta of 1.25.

nVent Electric (NYSE:NVT) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.81 by ($0.18). nVent Electric had a net margin of 16.95% and a return on equity of 15.66%. The business had revenue of $782.00 million during the quarter, compared to analyst estimates of $937.37 million. During the same period last year, the firm posted $0.84 earnings per share. nVent Electric’s quarterly revenue was up 9.4% compared to the same quarter last year. On average, equities analysts anticipate that nVent Electric plc will post 2.5 EPS for the current year.

nVent Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 18th were paid a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 1.01%. The ex-dividend date was Friday, October 18th. nVent Electric’s dividend payout ratio (DPR) is presently 22.29%.

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.