Retirement Systems of Alabama Sells 16,565 Shares of nVent Electric plc (NYSE:NVT)

Retirement Systems of Alabama trimmed its holdings in shares of nVent Electric plc (NYSE:NVT) by 4.1% during the third quarter, HoldingsChannel reports. The firm owned 386,472 shares of the company’s stock after selling 16,565 shares during the quarter. Retirement Systems of Alabama’s holdings in nVent Electric were worth $27,154,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Signaturefd LLC raised its position in nVent Electric by 22.0% in the second quarter. Signaturefd LLC now owns 860 shares of the company’s stock worth $66,000 after acquiring an additional 155 shares during the period. CIBC Asset Management Inc increased its stake in shares of nVent Electric by 3.6% during the 3rd quarter. CIBC Asset Management Inc now owns 4,823 shares of the company’s stock worth $339,000 after purchasing an additional 166 shares during the last quarter. Larson Financial Group LLC raised its holdings in shares of nVent Electric by 91.9% in the 3rd quarter. Larson Financial Group LLC now owns 378 shares of the company’s stock worth $27,000 after purchasing an additional 181 shares during the period. Huntington National Bank lifted its stake in nVent Electric by 57.3% in the third quarter. Huntington National Bank now owns 612 shares of the company’s stock valued at $43,000 after purchasing an additional 223 shares during the last quarter. Finally, Anchor Investment Management LLC lifted its stake in nVent Electric by 94.0% in the second quarter. Anchor Investment Management LLC now owns 578 shares of the company’s stock valued at $44,000 after purchasing an additional 280 shares during the last quarter. 90.05% of the stock is owned by hedge funds and other institutional investors.

nVent Electric Trading Down 0.8 %

Shares of NVT opened at $74.97 on Friday. nVent Electric plc has a twelve month low of $55.19 and a twelve month high of $86.57. The stock has a market cap of $12.36 billion, a PE ratio of 21.99, a P/E/G ratio of 3.88 and a beta of 1.25. The company has a quick ratio of 1.36, a current ratio of 1.83 and a debt-to-equity ratio of 0.68. The business’s 50-day moving average price is $74.96 and its 200-day moving average price is $72.78.

nVent Electric (NYSE:NVT) last posted its earnings results on Tuesday, November 5th. The company reported $0.63 earnings per share for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.18). nVent Electric had a return on equity of 15.66% and a net margin of 16.95%. The firm had revenue of $782.00 million for the quarter, compared to the consensus estimate of $937.37 million. During the same period last year, the company posted $0.84 EPS. The business’s revenue was up 9.4% on a year-over-year basis. On average, equities analysts forecast that nVent Electric plc will post 2.5 EPS for the current fiscal year.

nVent Electric Announces Dividend

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 dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 1.01%. The ex-dividend date of this dividend was Friday, October 18th. nVent Electric’s dividend payout ratio is 22.29%.

Analyst Upgrades and Downgrades

NVT has been the topic of several research reports. Barclays boosted their target price on nVent Electric from $76.00 to $88.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Citigroup boosted their price objective on nVent Electric from $78.00 to $91.00 and gave the company a “buy” rating in a research note on Monday, December 9th. KeyCorp increased 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. Finally, Royal Bank of Canada lowered their price target on shares of nVent Electric from $82.00 to $80.00 and set an “outperform” rating on the stock in a research report on Monday, November 4th. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $85.50.

Insider Buying and Selling

In other news, CAO Randolph A. Wacker sold 8,022 shares of nVent Electric stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $75.87, for a total transaction of $608,629.14. Following the completion of the sale, the chief accounting officer now directly owns 25,993 shares of the company’s stock, valued at approximately $1,972,088.91. The trade was a 23.58 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Jerry W. Burris sold 6,558 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $80.00, for a total transaction of $524,640.00. Following the completion of the transaction, the director now owns 45,040 shares of the company’s stock, valued at $3,603,200. This trade represents a 12.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 96,382 shares of company stock worth $7,365,956 over the last ninety days. 2.50% of the stock is owned by corporate insiders.

nVent Electric 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.