Arizona State Retirement System decreased its stake in nVent Electric plc (NYSE:NVT – Get Rating) by 0.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 45,245 shares of the company’s stock after selling 429 shares during the period. Arizona State Retirement System’s holdings in nVent Electric were worth $1,719,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of NVT. First Horizon Advisors Inc. lifted its stake in nVent Electric by 249.2% in the 3rd quarter. First Horizon Advisors Inc. now owns 1,243 shares of the company’s stock valued at $67,000 after purchasing an additional 887 shares during the last quarter. Signaturefd LLC increased its position in nVent Electric by 41.1% in the 4th quarter. Signaturefd LLC now owns 1,955 shares of the company’s stock valued at $74,000 after acquiring an additional 569 shares during the period. Quadrant Capital Group LLC increased its position in nVent Electric by 92.9% in the 4th quarter. Quadrant Capital Group LLC now owns 2,170 shares of the company’s stock valued at $82,000 after acquiring an additional 1,045 shares during the period. Rockefeller Capital Management L.P. increased its position in nVent Electric by 7.4% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 5,868 shares of the company’s stock valued at $188,000 after acquiring an additional 402 shares during the period. Finally, Dark Forest Capital Management LP increased its position in nVent Electric by 179.6% in the 3rd quarter. Dark Forest Capital Management LP now owns 6,044 shares of the company’s stock valued at $195,000 after acquiring an additional 3,882 shares during the period. 84.45% of the stock is owned by institutional investors and hedge funds.
In related news, Director Ronald Merriman sold 3,947 shares of the company’s stock in a transaction that occurred on Monday, March 28th. The stock was sold at an average price of $35.17, for a total transaction of $138,815.99. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 2.10% of the stock is currently owned by corporate insiders.
nVent Electric (NYSE:NVT – Get Rating) last posted its quarterly earnings results on Tuesday, February 8th. The company reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.01. nVent Electric had a net margin of 11.08% and a return on equity of 13.35%. The business had revenue of $669.00 million during the quarter, compared to analysts’ expectations of $606.40 million. During the same period last year, the company posted $0.43 earnings per share. The business’s quarterly revenue was up 28.4% on a year-over-year basis. Sell-side analysts anticipate that nVent Electric plc will post 2.18 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, May 6th. Investors of record on Friday, April 22nd will be paid a dividend of $0.175 per share. This represents a $0.70 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date is Thursday, April 21st. nVent Electric’s dividend payout ratio (DPR) is currently 43.48%.
NVT has been the subject of several recent research reports. Barclays decreased their price target on shares of nVent Electric from $51.00 to $48.00 and set an “overweight” rating for the company in a research report on Wednesday, February 9th. Zacks Investment Research cut shares of nVent Electric from a “buy” rating to a “hold” rating in a research report on Wednesday, April 13th. Finally, Vertical Research upgraded shares of nVent Electric from a “hold” rating to a “buy” rating and set a $45.00 price objective for the company in a research report on Monday, January 3rd. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $43.00.
About nVent Electric (Get Rating)
nVent Electric plc designs, manufactures, markets, installs, and services electrical connection and protection products worldwide. The company operates through three segments: Enclosures, Electrical & Fastening Solutions, and Thermal Management. The Enclosures segment provides solutions to connect and protect critical electronics, communication, control, and power equipment; physical infrastructure solutions to host, connect, and protect server and network equipment; and indoor and outdoor protection for test and measurement and aerospace and defense applications in industrial, infrastructure, commercial, and energy verticals.
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