Strs Ohio Increases Holdings in nVent Electric plc (NYSE:NVT)

Strs Ohio increased its stake in nVent Electric plc (NYSE:NVT) by 8.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,225 shares of the company’s stock after acquiring an additional 3,203 shares during the period. Strs Ohio’s holdings in nVent Electric were worth $2,376,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Quent Capital LLC lifted its stake in shares of nVent Electric by 123.2% in the 4th quarter. Quent Capital LLC now owns 424 shares of the company’s stock valued at $25,000 after purchasing an additional 234 shares during the last quarter. HM Payson & Co. purchased a new stake in nVent Electric during the 3rd quarter valued at $26,000. Arlington Trust Co LLC bought a new stake in nVent Electric in the third quarter worth $30,000. Coppell Advisory Solutions LLC purchased a new position in nVent Electric during the second quarter worth $31,000. Finally, Pacific Center for Financial Services bought a new position in nVent Electric during the third quarter valued at $32,000. 90.05% of the stock is owned by institutional investors.

Insider Buying and Selling at nVent Electric

In other news, insider Michael B. Faulconer sold 10,961 shares of the stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $67.33, for a total transaction of $738,004.13. Following the transaction, the insider now directly owns 33,109 shares in the company, valued at $2,229,228.97. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other nVent Electric news, insider Michael B. Faulconer sold 10,961 shares of the stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $67.33, for a total transaction of $738,004.13. Following the sale, the insider now owns 33,109 shares of the company’s stock, valued at approximately $2,229,228.97. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Beth Wozniak sold 198,211 shares of the business’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $64.29, for a total value of $12,742,985.19. Following the completion of the transaction, the chief executive officer now directly owns 342 shares of the company’s stock, valued at $21,987.18. The disclosure for this sale can be found here. In the last quarter, insiders have sold 400,252 shares of company stock valued at $25,713,777. Company insiders own 2.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. The Goldman Sachs Group raised their target price on shares of nVent Electric from $69.00 to $77.00 and gave the stock a “buy” rating in a report on Friday, March 15th. Citigroup boosted their target price on nVent Electric from $71.00 to $91.00 and gave the company a “buy” rating in a research report on Monday, April 8th. Deutsche Bank Aktiengesellschaft began coverage on nVent Electric in a report on Monday, March 11th. They issued a “buy” rating and a $83.00 price target on the stock. Royal Bank of Canada boosted their price objective on nVent Electric from $65.00 to $72.00 and gave the company an “outperform” rating in a report on Wednesday, February 7th. Finally, Barclays increased their target price on nVent Electric from $74.00 to $85.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 2nd. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, nVent Electric presently has a consensus rating of “Moderate Buy” and an average price target of $81.60.

nVent Electric Stock Performance

nVent Electric stock opened at $71.64 on Friday. nVent Electric plc has a fifty-two week low of $40.19 and a fifty-two week high of $78.98. The company has a market capitalization of $11.89 billion, a PE ratio of 21.26, a P/E/G ratio of 1.54 and a beta of 1.35. The company has a 50 day moving average price of $70.48 and a 200-day moving average price of $60.37. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.22 and a current ratio of 1.82.

nVent Electric (NYSE:NVT) last issued its earnings results on Tuesday, February 6th. The company reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.03. nVent Electric had a return on equity of 17.53% and a net margin of 17.38%. The business had revenue of $861.20 million during the quarter, compared to analyst estimates of $866.90 million. During the same period in the previous year, the company posted $0.66 EPS. nVent Electric’s revenue was up 16.1% on a year-over-year basis. As a group, equities analysts forecast that nVent Electric plc will post 3.24 earnings per share for the current year.

nVent Electric Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Friday, April 26th will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date of this dividend is Thursday, April 25th. nVent Electric’s dividend payout ratio (DPR) is 22.55%.

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.