Arizona State Retirement System Acquires 616 Shares of nVent Electric plc (NYSE:NVT)

Arizona State Retirement System boosted its position in nVent Electric plc (NYSE:NVT) by 1.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 46,212 shares of the company’s stock after buying an additional 616 shares during the quarter. Arizona State Retirement System’s holdings in nVent Electric were worth $3,540,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in the business. International Assets Investment Management LLC bought a new position in shares of nVent Electric in the fourth quarter valued at approximately $821,000. National Bank of Canada FI grew its holdings in shares of nVent Electric by 415.6% during the fourth quarter. National Bank of Canada FI now owns 48,283 shares of the company’s stock worth $2,806,000 after purchasing an additional 38,918 shares during the last quarter. Private Advisor Group LLC increased its stake in shares of nVent Electric by 3.2% in the fourth quarter. Private Advisor Group LLC now owns 6,216 shares of the company’s stock valued at $367,000 after buying an additional 191 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of nVent Electric by 2.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,021,311 shares of the company’s stock valued at $60,349,000 after buying an additional 20,666 shares during the last quarter. Finally, Jump Financial LLC lifted its position in nVent Electric by 194.1% during the 4th quarter. Jump Financial LLC now owns 39,432 shares of the company’s stock worth $2,330,000 after buying an additional 26,024 shares in the last quarter. 90.05% of the stock is owned by institutional investors.

nVent Electric Trading Up 0.6 %

NVT opened at $62.03 on Tuesday. nVent Electric plc has a fifty-two week low of $45.60 and a fifty-two week high of $86.57. The company has a market cap of $10.31 billion, a price-to-earnings ratio of 18.08, a price-to-earnings-growth ratio of 1.18 and a beta of 1.27. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.17 and a quick ratio of 1.49. The firm has a 50 day simple moving average of $69.37 and a 200 day simple moving average of $73.46.

nVent Electric (NYSE:NVT) last issued 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). nVent Electric had a net margin of 16.59% and a return on equity of 17.21%. The business had revenue of $880.30 million for the quarter, compared to the consensus estimate of $892.89 million. During the same quarter in the previous year, the firm posted $0.77 EPS. The business’s revenue was up 9.6% on a year-over-year basis. On average, sell-side analysts anticipate that nVent Electric plc will post 3.26 earnings per share for the current year.

Insider Buying and Selling at nVent Electric

In related 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, for a total transaction of $497,161.86. Following the transaction, the director now owns 34,524 shares of the company’s stock, valued at $2,268,572.04. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other nVent Electric news, EVP Lynnette R. Heath sold 8,242 shares of nVent Electric 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 transaction, the executive vice president now directly owns 30,432 shares in the company, valued at $1,833,832.32. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Herbert K. Parker purchased 7,566 shares of the stock in a transaction on Thursday, August 15th. The stock was acquired at an average price of $65.71 per share, with a total value of $497,161.86. Following the completion of the acquisition, the director now directly owns 34,524 shares of the company’s stock, valued at $2,268,572.04. The disclosure for this purchase can be found here. Insiders own 2.50% of the company’s stock.

Analyst Upgrades and Downgrades

NVT has been the subject of several research reports. KeyCorp upgraded shares of nVent Electric from a “sector weight” rating to an “overweight” rating and set a $80.00 price objective for the company in a research report on Wednesday, September 4th. Royal Bank of Canada lowered their price target on shares of nVent Electric from $88.00 to $82.00 and set an “outperform” rating for the company in a report on Wednesday, August 7th. Finally, Barclays upped their price objective on nVent Electric from $85.00 to $95.00 and gave the stock an “overweight” rating in a report on Tuesday, June 4th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $86.50.

About nVent Electric

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.