State of Alaska Department of Revenue Acquires 1,310 Shares of nVent Electric plc (NYSE:NVT)

State of Alaska Department of Revenue boosted its holdings in nVent Electric plc (NYSE:NVT) by 4.0% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 34,082 shares of the company’s stock after acquiring an additional 1,310 shares during the quarter. State of Alaska Department of Revenue’s holdings in nVent Electric were worth $2,393,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in NVT. Van ECK Associates Corp lifted its position in nVent Electric by 36.5% in the 1st quarter. Van ECK Associates Corp now owns 57,767 shares of the company’s stock valued at $4,356,000 after acquiring an additional 15,450 shares in the last quarter. Private Advisor Group LLC lifted its position in shares of nVent Electric by 6.1% during the 1st quarter. Private Advisor Group LLC now owns 6,598 shares of the company’s stock worth $498,000 after buying an additional 382 shares in the last quarter. Diversify Advisory Services LLC bought a new position in shares of nVent Electric during the 1st quarter worth approximately $464,000. BNP Paribas Financial Markets lifted its position in shares of nVent Electric by 3.2% during the 1st quarter. BNP Paribas Financial Markets now owns 66,641 shares of the company’s stock worth $5,025,000 after buying an additional 2,064 shares in the last quarter. Finally, Janney Montgomery Scott LLC lifted its position in shares of nVent Electric by 92.7% during the 1st quarter. Janney Montgomery Scott LLC now owns 18,877 shares of the company’s stock worth $1,423,000 after buying an additional 9,081 shares in the last quarter. Institutional investors own 90.05% of the company’s stock.

Analysts Set New Price Targets

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

nVent Electric Trading Down 8.2 %

Shares of NVT stock opened at $68.44 on Friday. The company has a 50 day moving average of $69.47 and a 200-day moving average of $73.12. The company has a quick ratio of 1.49, a current ratio of 2.17 and a debt-to-equity ratio of 0.53. nVent Electric plc has a 12-month low of $49.05 and a 12-month high of $86.57. The firm has a market cap of $11.38 billion, a P/E ratio of 20.01, a PEG ratio of 1.52 and a beta of 1.27.

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

nVent Electric Dividend Announcement

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

Insider Activity at nVent Electric

In related news, insider Michael B. Faulconer sold 20,004 shares of nVent Electric stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $63.34, for a total value of $1,267,053.36. Following the completion of the transaction, the insider now directly owns 19,766 shares in the company, valued at approximately $1,251,978.44. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Michael B. Faulconer sold 20,004 shares of nVent Electric stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $63.34, for a total value of $1,267,053.36. Following the completion of the transaction, the insider now directly owns 19,766 shares in the company, valued at approximately $1,251,978.44. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Lynnette R. Heath sold 8,242 shares of nVent Electric stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $60.26, for a total transaction of $496,662.92. Following the completion of the transaction, the executive vice president now owns 30,432 shares of the company’s stock, valued at $1,833,832.32. This represents 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 owned by company insiders.

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.