Illinois Municipal Retirement Fund Sells 8,419 Shares of nVent Electric plc (NYSE:NVT)

Illinois Municipal Retirement Fund reduced its position in shares of nVent Electric plc (NYSE:NVT) by 32.6% during the 4th quarter, HoldingsChannel.com reports. The fund owned 17,443 shares of the company’s stock after selling 8,419 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in nVent Electric were worth $1,189,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Crews Bank & Trust bought a new stake in nVent Electric during the fourth quarter worth $26,000. Larson Financial Group LLC raised its position in nVent Electric by 91.9% during the third quarter. Larson Financial Group LLC now owns 378 shares of the company’s stock worth $27,000 after acquiring an additional 181 shares in the last quarter. Huntington National Bank raised its position in nVent Electric by 57.3% during the third quarter. Huntington National Bank now owns 612 shares of the company’s stock worth $43,000 after acquiring an additional 223 shares in the last quarter. Brooklyn Investment Group bought a new position in shares of nVent Electric in the third quarter valued at about $44,000. Finally, Tsfg LLC acquired a new stake in shares of nVent Electric during the 4th quarter worth about $51,000. 90.05% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Royal Bank of Canada increased their price target on shares of nVent Electric from $85.00 to $86.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Citigroup decreased their target price on nVent Electric from $91.00 to $90.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Finally, Barclays lifted their price target on nVent Electric from $76.00 to $88.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $86.33.

nVent Electric Stock Up 0.5 %

NYSE NVT opened at $60.25 on Monday. The company has a market cap of $9.94 billion, a price-to-earnings ratio of 30.74, a PEG ratio of 1.48 and a beta of 1.26. nVent Electric plc has a 1-year low of $56.44 and a 1-year high of $86.57. The company has a current ratio of 1.73, a quick ratio of 1.28 and a debt-to-equity ratio of 0.65. The company has a 50 day moving average of $67.75 and a 200-day moving average of $70.14.

nVent Electric (NYSE:NVT) last released its earnings results on Thursday, February 6th. The company reported $0.59 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.59. nVent Electric had a return on equity of 14.52% and a net margin of 10.09%. On average, equities research analysts expect that nVent Electric plc will post 3.04 earnings per share for the current fiscal year.

nVent Electric Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 25th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.33%. The ex-dividend date is Friday, April 25th. nVent Electric’s dividend payout ratio (DPR) is currently 40.82%.

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.