Strs Ohio Trims Stock Position in nVent Electric PLC $NVT

Strs Ohio trimmed its holdings in shares of nVent Electric PLC (NYSE:NVT) by 83.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,895 shares of the company’s stock after selling 19,288 shares during the period. Strs Ohio’s holdings in nVent Electric were worth $384,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. BCS Private Wealth Management Inc. increased its position in nVent Electric by 1.5% during the third quarter. BCS Private Wealth Management Inc. now owns 6,631 shares of the company’s stock worth $654,000 after buying an additional 100 shares in the last quarter. Fulton Bank N.A. grew its holdings in shares of nVent Electric by 1.1% during the third quarter. Fulton Bank N.A. now owns 10,242 shares of the company’s stock worth $1,010,000 after buying an additional 111 shares in the last quarter. Fifth Third Wealth Advisors LLC grew its holdings in shares of nVent Electric by 1.9% during the third quarter. Fifth Third Wealth Advisors LLC now owns 6,137 shares of the company’s stock worth $605,000 after buying an additional 113 shares in the last quarter. Verdence Capital Advisors LLC raised its position in shares of nVent Electric by 3.6% in the third quarter. Verdence Capital Advisors LLC now owns 3,435 shares of the company’s stock valued at $357,000 after buying an additional 120 shares during the last quarter. Finally, PFG Investments LLC boosted its position in nVent Electric by 2.7% during the second quarter. PFG Investments LLC now owns 5,020 shares of the company’s stock worth $368,000 after acquiring an additional 132 shares during the last quarter. Hedge funds and other institutional investors own 90.05% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on NVT shares. Barclays increased their price target on nVent Electric from $130.00 to $140.00 and gave the stock an “overweight” rating in a research note on Thursday, December 4th. Citigroup increased their target price on nVent Electric from $114.00 to $131.00 and gave the stock a “buy” rating in a research report on Monday, November 3rd. Roth Mkm restated a “buy” rating and issued a $130.00 price target (up previously from $115.00) on shares of nVent Electric in a report on Monday, November 3rd. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $136.00 price objective on shares of nVent Electric in a research note on Thursday, January 15th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of nVent Electric in a research report on Monday, December 29th. Nine equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $123.63.

nVent Electric Price Performance

nVent Electric stock opened at $112.25 on Friday. nVent Electric PLC has a 52-week low of $41.71 and a 52-week high of $117.52. The firm has a fifty day moving average of $106.45 and a 200-day moving average of $99.03. The firm has a market capitalization of $18.11 billion, a P/E ratio of 30.92, a PEG ratio of 1.24 and a beta of 1.34. The company has a quick ratio of 1.11, a current ratio of 1.57 and a debt-to-equity ratio of 0.44.

nVent Electric (NYSE:NVT) last posted its earnings results on Friday, October 31st. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.03. The business had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.01 billion. nVent Electric had a net margin of 16.83% and a return on equity of 14.29%. The business’s quarterly revenue was up 34.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.63 EPS. As a group, analysts predict that nVent Electric PLC will post 3.04 EPS for the current year.

nVent Electric Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 6th. Stockholders of record on Friday, January 23rd will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.7%. This is a boost from nVent Electric’s previous quarterly dividend of $0.20. The ex-dividend date is Friday, January 23rd. nVent Electric’s payout ratio is currently 23.14%.

Insider Buying and Selling at nVent Electric

In related news, EVP Lynnette R. Heath sold 32,943 shares of the stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $113.04, for a total value of $3,723,876.72. Following the completion of the transaction, the executive vice president owned 30,562 shares of the company’s stock, valued at approximately $3,454,728.48. This represents a 51.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Sara E. Zawoyski sold 115,557 shares of the stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $112.78, for a total value of $13,032,518.46. Following the transaction, the insider owned 66,680 shares of the company’s stock, valued at approximately $7,520,170.40. This trade represents a 63.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 163,228 shares of company stock worth $18,345,001. 1.80% of the stock is currently owned by insiders.

About nVent Electric

nVent Electric PLC is a global manufacturer of electrical connection, protection and thermal management solutions. The company designs, engineers and produces a broad portfolio of products aimed at enhancing safety, reliability and performance in electrical systems across a variety of industries. Its core offerings include electrical enclosures, heat tracing systems, grounding and bonding products, cable management, and fastening solutions. nVent serves markets such as commercial and industrial construction, oil and gas, telecommunications, data centers, utilities, and renewable energy.

The company’s electrical enclosures and housing solutions protect sensitive components from environmental hazards, while its Raychem brand heat tracing products provide freeze protection and temperature maintenance for critical piping and equipment.