nVent Electric PLC $NVT Holdings Decreased by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al lowered its position in nVent Electric PLC (NYSE:NVT) by 93.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,700 shares of the company’s stock after selling 39,200 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in nVent Electric were worth $433,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in NVT. State Street Corp boosted its position in nVent Electric by 4.9% during the 2nd quarter. State Street Corp now owns 5,313,122 shares of the company’s stock worth $901,159,000 after buying an additional 250,248 shares during the period. Bank of New York Mellon Corp grew its holdings in nVent Electric by 3.5% during the 1st quarter. Bank of New York Mellon Corp now owns 2,018,579 shares of the company’s stock worth $238,758,000 after acquiring an additional 68,818 shares during the last quarter. First Trust Advisors LP increased its position in nVent Electric by 32.8% in the 1st quarter. First Trust Advisors LP now owns 1,696,369 shares of the company’s stock valued at $200,647,000 after acquiring an additional 419,239 shares during the period. Amundi increased its position in nVent Electric by 146.8% in the 1st quarter. Amundi now owns 1,092,802 shares of the company’s stock valued at $129,257,000 after acquiring an additional 649,992 shares during the period. Finally, Royal Bank of Canada increased its position in nVent Electric by 31.6% in the 1st quarter. Royal Bank of Canada now owns 719,484 shares of the company’s stock valued at $85,101,000 after acquiring an additional 172,742 shares during the period. Institutional investors and hedge funds own 90.05% of the company’s stock.

nVent Electric Trading Up 7.8%

NYSE:NVT opened at $106.10 on Friday. The company has a current ratio of 2.40, a quick ratio of 1.93 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $17.15 billion, a price-to-earnings ratio of 25.57, a PEG ratio of 0.54 and a beta of 1.39. The firm has a fifty day simple moving average of $148.90 and a two-hundred day simple moving average of $144.49. nVent Electric PLC has a 12 month low of $93.22 and a 12 month high of $184.64.

nVent Electric (NYSE:NVT) last posted its quarterly earnings results on Friday, October 30th. The company reported $1.52 earnings per share for the quarter, beating the consensus estimate of $1.40 by $0.12. nVent Electric had a net margin of 12.84% and a return on equity of 20.82%. The firm had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.43 billion. During the same period in the previous year, the firm posted $0.91 earnings per share. The business’s revenue was up 43.7% compared to the same quarter last year. Analysts expect that nVent Electric PLC will post 5.36 EPS for the current fiscal year.

nVent Electric Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 6th. Investors of record on Friday, October 23rd were given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend was Friday, October 23rd. nVent Electric’s payout ratio is presently 20.24%.

Insider Buying and Selling

In related news, insider Robert van der Kolk sold 5,858 shares of the business’s stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $164.32, for a total value of $962,586.56. Following the completion of the sale, the insider directly owned 27,387 shares of the company’s stock, valued at $4,500,231.84. The trade was a 17.62% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 1.70% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

NVT has been the subject of several analyst reports. Wells Fargo & Company raised their price target on shares of nVent Electric from $182.00 to $190.00 and gave the company an “equal weight” rating in a research note on Monday, November 2nd. Sanford C. Bernstein reissued an “outperform” rating and issued a $233.00 price objective on shares of nVent Electric in a research note on Monday, November 2nd. Seaport Research Partners reissued a “neutral” rating and issued a $225.00 price objective on shares of nVent Electric in a research note on Monday, October 12th. UBS Group restated a “buy” rating on shares of nVent Electric in a report on Tuesday, August 25th. Finally, BMO Capital Markets assumed coverage on nVent Electric in a research report on Sunday, October 4th. They set an “outperform” rating and a $212.00 target price for the company. Three research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, nVent Electric has an average rating of “Buy” and an average target price of $197.82.

nVent Electric Profile

nVent Electric plc designs and manufactures products and solutions that protect and connect electrical systems. Its offerings include electrical enclosures, cable management and fastening products, grounding and bonding solutions, and systems for managing heat in electrical and industrial applications.

The company serves customers across industries such as data centers, energy, infrastructure, commercial construction and manufacturing. Its products are marketed under brands including Hoffman, ERICO, CADDY, Raychem and Schroff, and it serves customers in markets around the world.

nVent became an independent, publicly traded company in 2018 after its separation from Pentair.