New York State Teachers Retirement System Sells 10,341 Shares of nVent Electric plc (NYSE:NVT)

New York State Teachers Retirement System decreased its holdings in nVent Electric plc (NYSE:NVT) by 4.7% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 210,400 shares of the company’s stock after selling 10,341 shares during the period. New York State Teachers Retirement System’s holdings in nVent Electric were worth $14,783,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Nordea Investment Management AB lifted its holdings in nVent Electric by 15.5% in the first quarter. Nordea Investment Management AB now owns 75,323 shares of the company’s stock valued at $5,684,000 after buying an additional 10,135 shares during the period. Federated Hermes Inc. lifted its holdings in nVent Electric by 6.6% in the second quarter. Federated Hermes Inc. now owns 410,902 shares of the company’s stock valued at $31,479,000 after buying an additional 25,482 shares during the period. State Board of Administration of Florida Retirement System lifted its holdings in nVent Electric by 4.7% in the first quarter. State Board of Administration of Florida Retirement System now owns 190,240 shares of the company’s stock valued at $14,344,000 after buying an additional 8,489 shares during the period. DekaBank Deutsche Girozentrale lifted its holdings in nVent Electric by 18.0% in the first quarter. DekaBank Deutsche Girozentrale now owns 306,319 shares of the company’s stock valued at $23,099,000 after buying an additional 46,748 shares during the period. Finally, SG Americas Securities LLC lifted its holdings in nVent Electric by 250.4% in the first quarter. SG Americas Securities LLC now owns 62,384 shares of the company’s stock valued at $4,704,000 after buying an additional 44,582 shares during the period. Institutional investors own 90.05% of the company’s stock.

Insider Transactions at nVent Electric

In other nVent Electric news, Director Herbert K. Parker bought 7,566 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was bought at an average cost of $65.71 per share, with a total value of $497,161.86. Following the completion of the transaction, the director now directly owns 34,524 shares in the company, valued at approximately $2,268,572.04. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. In other nVent Electric news, Director Herbert K. Parker bought 7,566 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was bought at an average cost of $65.71 per share, with a total value of $497,161.86. Following the completion of the transaction, the director now directly owns 34,524 shares in the company, valued at approximately $2,268,572.04. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Lynnette R. Heath sold 8,242 shares of the business’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $60.26, for a total transaction of $496,662.92. Following the sale, the executive vice president now directly owns 30,432 shares of the company’s stock, valued at approximately $1,833,832.32. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.50% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on NVT shares. KeyCorp boosted their target price on shares of nVent Electric from $80.00 to $84.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Barclays dropped their price objective on shares of nVent Electric from $87.00 to $86.00 and set an “overweight” rating on the stock in a report on Wednesday, October 2nd. Finally, Royal Bank of Canada dropped their price objective on shares of nVent Electric from $88.00 to $82.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $85.67.

nVent Electric Price Performance

Shares of NYSE NVT opened at $68.28 on Friday. The firm’s 50-day moving average price is $69.47 and its 200-day moving average price is $73.12. nVent Electric plc has a 1-year low of $49.05 and a 1-year high of $86.57. The firm has a market capitalization of $11.35 billion, a P/E ratio of 19.96, a P/E/G ratio of 1.52 and a beta of 1.26. The company has a current ratio of 2.17, a quick ratio of 1.49 and a debt-to-equity ratio of 0.53.

nVent Electric (NYSE:NVT) last posted its earnings results on Tuesday, August 6th. The company reported $0.82 EPS for the quarter, missing the consensus estimate of $0.83 by ($0.01). The business had revenue of $880.30 million for the quarter, compared to the consensus estimate of $892.89 million. nVent Electric had a return on equity of 17.21% and a net margin of 16.59%. The company’s revenue was up 9.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.77 earnings per share. Equities research analysts anticipate that nVent Electric plc will post 3.26 earnings per share for the current fiscal year.

nVent Electric Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 18th were given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 1.11%. The ex-dividend date of this dividend was Friday, October 18th. nVent Electric’s payout ratio is presently 22.22%.

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.