Arizona State Retirement System lifted its position in nVent Electric PLC (NYSE:NVT) by 1.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 117,191 shares of the company’s stock after buying an additional 1,506 shares during the period. Arizona State Retirement System owned about 0.07% of nVent Electric worth $2,632,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Farmers & Merchants Investments Inc. bought a new stake in shares of nVent Electric in the 3rd quarter valued at $100,000. JPMorgan Chase & Co. increased its holdings in nVent Electric by 31.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 214,555 shares of the company’s stock worth $5,828,000 after purchasing an additional 51,761 shares in the last quarter. Marshall Wace North America L.P. increased its holdings in nVent Electric by 64.5% during the 3rd quarter. Marshall Wace North America L.P. now owns 416,127 shares of the company’s stock worth $11,302,000 after purchasing an additional 163,222 shares in the last quarter. Ancora Advisors LLC increased its holdings in nVent Electric by 9.2% during the 3rd quarter. Ancora Advisors LLC now owns 342,750 shares of the company’s stock worth $9,309,000 after purchasing an additional 28,929 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in nVent Electric by 1.2% during the 3rd quarter. Vanguard Group Inc. now owns 14,253,847 shares of the company’s stock worth $387,135,000 after purchasing an additional 174,628 shares in the last quarter. Institutional investors and hedge funds own 85.18% of the company’s stock.

NVT stock opened at $25.40 on Friday. The stock has a market cap of $4.50 billion and a price-to-earnings ratio of 14.60. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.83 and a quick ratio of 1.34. nVent Electric PLC has a 1 year low of $19.71 and a 1 year high of $29.84.

nVent Electric (NYSE:NVT) last released its earnings results on Thursday, January 31st. The company reported $0.45 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.46 by ($0.01). The firm had revenue of $568.10 million for the quarter, compared to the consensus estimate of $547.30 million. nVent Electric had a return on equity of 10.08% and a net margin of 10.43%. As a group, sell-side analysts forecast that nVent Electric PLC will post 1.87 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, February 8th. Shareholders of record on Friday, January 25th were issued a dividend of $0.175 per share. This represents a $0.70 dividend on an annualized basis and a yield of 2.76%. The ex-dividend date was Thursday, January 24th. nVent Electric’s dividend payout ratio (DPR) is presently 40.23%.

A number of equities analysts have issued reports on NVT shares. Goldman Sachs Group upgraded nVent Electric from a “neutral” rating to a “buy” rating and lowered their target price for the stock from $31.00 to $30.00 in a report on Friday, October 26th. Vertical Research started coverage on nVent Electric in a report on Tuesday, November 20th. They set a “hold” rating and a $28.00 target price for the company. Finally, Zacks Investment Research cut nVent Electric from a “hold” rating to a “sell” rating in a report on Tuesday, November 6th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $28.50.

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nVent Electric Profile

nVent Electric plc designs, manufactures, markets, installs, and services electrical connection and protection products and solutions in the United States, Canada, 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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