Retirement Systems of Alabama Buys 621 Shares of nVent Electric PLC $NVT

Retirement Systems of Alabama raised its stake in nVent Electric PLC (NYSE:NVT) by 0.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 385,783 shares of the company’s stock after acquiring an additional 621 shares during the period. Retirement Systems of Alabama’s holdings in nVent Electric were worth $28,259,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. GAMMA Investing LLC raised its stake in nVent Electric by 74.3% in the first quarter. GAMMA Investing LLC now owns 3,476 shares of the company’s stock valued at $182,000 after purchasing an additional 1,482 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its holdings in nVent Electric by 27.4% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 19,307 shares of the company’s stock valued at $1,012,000 after buying an additional 4,149 shares during the period. First Horizon Advisors Inc. raised its position in shares of nVent Electric by 58.0% in the 1st quarter. First Horizon Advisors Inc. now owns 817 shares of the company’s stock valued at $43,000 after buying an additional 300 shares in the last quarter. Teacher Retirement System of Texas lifted its holdings in shares of nVent Electric by 42.5% during the 1st quarter. Teacher Retirement System of Texas now owns 40,683 shares of the company’s stock worth $2,133,000 after acquiring an additional 12,130 shares during the period. Finally, Mutual Advisors LLC lifted its holdings in shares of nVent Electric by 36.9% during the 1st quarter. Mutual Advisors LLC now owns 7,196 shares of the company’s stock worth $394,000 after acquiring an additional 1,939 shares during the period. 90.05% of the stock is currently owned by institutional investors.

nVent Electric Stock Performance

nVent Electric stock opened at $104.30 on Friday. The business has a 50 day moving average of $96.83 and a 200-day moving average of $79.69. The company has a market capitalization of $16.79 billion, a P/E ratio of 29.72, a P/E/G ratio of 1.58 and a beta of 1.38. nVent Electric PLC has a 1 year low of $41.71 and a 1 year high of $107.75. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.67 and a quick ratio of 1.20.

nVent Electric (NYSE:NVT) last posted its earnings results on Friday, August 1st. The company reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.79 by $0.07. nVent Electric had a net margin of 17.72% and a return on equity of 13.36%. The firm had revenue of $963.10 million for the quarter, compared to analyst estimates of $906.96 million. During the same period in the previous year, the firm posted $0.82 EPS. The company’s revenue for the quarter was up 30.1% compared to the same quarter last year. On average, equities research analysts predict that nVent Electric PLC will post 3.04 earnings per share for the current year.

nVent Electric Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 7th. Investors of record on Friday, October 17th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Friday, October 17th. This represents a $0.80 annualized dividend and a dividend yield of 0.8%. nVent Electric’s payout ratio is currently 22.79%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on NVT shares. Roth Capital restated a “buy” rating and set a $100.00 price objective (up from $89.00) on shares of nVent Electric in a research report on Monday, August 4th. The Goldman Sachs Group lifted their price target on nVent Electric from $99.00 to $111.00 and gave the company a “buy” rating in a research note on Tuesday, September 16th. Royal Bank Of Canada restated an “outperform” rating and set a $102.00 price objective (up from $85.00) on shares of nVent Electric in a research report on Monday, August 4th. Barclays raised their price objective on nVent Electric from $100.00 to $115.00 and gave the company an “overweight” rating in a research note on Wednesday, October 1st. Finally, Wall Street Zen raised nVent Electric from a “hold” rating to a “buy” rating in a research note on Saturday, July 12th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $99.71.

Insider Buying and Selling

In other nVent Electric news, insider Sara E. Zawoyski sold 22,109 shares of the firm’s stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $89.54, for a total transaction of $1,979,639.86. Following the completion of the transaction, the insider owned 66,640 shares in the company, valued at approximately $5,966,945.60. This trade represents a 24.91% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Lynnette R. Heath sold 17,853 shares of the business’s stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $89.33, for a total transaction of $1,594,808.49. Following the completion of the transaction, the executive vice president owned 30,512 shares in the company, valued at $2,725,636.96. This trade represents a 36.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 261,111 shares of company stock valued at $23,367,520 over the last quarter. 1.80% of the stock is currently 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.