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

Several other institutional investors have also bought and sold shares of the stock. TT International Asset Management LTD grew its holdings in nVent Electric by 550.2% during the third quarter. TT International Asset Management LTD now owns 90,019 shares of the company’s stock worth $6,324,000 after buying an additional 76,175 shares in the last quarter. Geode Capital Management LLC grew its holdings in 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 buying an additional 29,794 shares in the last quarter. Public Employees Retirement System of Ohio bought a new stake in nVent Electric during the third quarter worth $6,900,000. Y Intercept Hong Kong Ltd bought a new stake in nVent Electric during the third quarter worth $583,000. Finally, World Investment Advisors LLC bought a new stake in nVent Electric during the third quarter worth $20,426,000. Institutional investors own 90.05% of the company’s stock.

Analyst Upgrades and Downgrades

NVT has been the subject of several recent research reports. KeyCorp upped their price target on nVent Electric from $80.00 to $84.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Citigroup raised their target price on nVent Electric from $78.00 to $91.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Barclays raised their target price on nVent Electric from $76.00 to $88.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. Finally, Royal Bank of Canada decreased their target price on nVent Electric from $82.00 to $80.00 and set an “outperform” rating for the company in a research report on Monday, November 4th. Six analysts have rated the stock with a buy rating, According to MarketBeat, nVent Electric currently has an average rating of “Buy” and an average price target of $85.50.

nVent Electric Stock Down 0.8 %

NVT stock opened at $74.97 on Friday. 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 company has a market capitalization of $12.36 billion, a price-to-earnings ratio of 21.99, a PEG ratio of 3.88 and a beta of 1.25. nVent Electric plc has a fifty-two week low of $55.19 and a fifty-two week high of $86.57. The stock has a fifty day moving average of $74.96 and a 200-day moving average of $72.78.

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

nVent Electric Announces Dividend

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

Insiders Place Their Bets

In other nVent Electric news, EVP Jon D. Lammers sold 67,297 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $76.07, for a total value of $5,119,282.79. Following the completion of the transaction, the executive vice president now owns 58,121 shares in the company, valued at $4,421,264.47. This trade represents a 53.66 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Randolph A. Wacker sold 8,022 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $75.87, for a total value of $608,629.14. Following the completion of the transaction, the chief accounting officer now owns 25,993 shares of the company’s stock, valued at approximately $1,972,088.91. This represents a 23.58 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 96,382 shares of company stock worth $7,365,956 in the last quarter. 2.50% of the stock is owned by company insiders.

nVent Electric 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.