Retirement Systems of Alabama Purchases 19,747 Shares of nVent Electric plc (NYSE:NVT)

Retirement Systems of Alabama lifted its position in shares of nVent Electric plc (NYSE:NVT) by 5.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 412,691 shares of the company’s stock after purchasing an additional 19,747 shares during the quarter. Retirement Systems of Alabama owned 0.25% of nVent Electric worth $24,386,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of NVT. Alliance Wealth Advisors LLC UT grew its stake in shares of nVent Electric by 112.0% during the 4th quarter. Alliance Wealth Advisors LLC UT now owns 12,927 shares of the company’s stock worth $764,000 after acquiring an additional 6,829 shares in the last quarter. Headlands Technologies LLC grew its position in nVent Electric by 73.1% in the fourth quarter. Headlands Technologies LLC now owns 1,132 shares of the company’s stock valued at $67,000 after purchasing an additional 478 shares in the last quarter. Truist Financial Corp increased its stake in nVent Electric by 4.1% in the 4th quarter. Truist Financial Corp now owns 37,533 shares of the company’s stock valued at $2,218,000 after buying an additional 1,486 shares during the last quarter. Yousif Capital Management LLC lifted its position in nVent Electric by 1.2% during the 4th quarter. Yousif Capital Management LLC now owns 80,034 shares of the company’s stock worth $4,729,000 after buying an additional 956 shares in the last quarter. Finally, South Dakota Investment Council acquired a new position in shares of nVent Electric during the 4th quarter worth about $2,656,000. Institutional investors and hedge funds own 90.05% of the company’s stock.

nVent Electric Stock Down 0.6 %

nVent Electric stock opened at $75.27 on Tuesday. The company’s 50-day moving average price is $71.74 and its two-hundred day moving average price is $61.36. The company has a quick ratio of 1.22, a current ratio of 1.82 and a debt-to-equity ratio of 0.56. The stock has a market cap of $12.49 billion, a P/E ratio of 22.34, a P/E/G ratio of 1.63 and a beta of 1.35. nVent Electric plc has a twelve month low of $40.22 and a twelve month high of $78.98.

nVent Electric (NYSE:NVT) last announced its earnings results on Tuesday, February 6th. The company reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.03. The company had revenue of $861.20 million for the quarter, compared to analyst estimates of $866.90 million. nVent Electric had a return on equity of 17.53% and a net margin of 17.38%. The firm’s quarterly revenue was up 16.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.66 earnings per share. As a group, analysts expect that nVent Electric plc will post 3.24 EPS for the current year.

nVent Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Friday, April 26th will be given a $0.19 dividend. The ex-dividend date of this dividend is Thursday, April 25th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.01%. nVent Electric’s payout ratio is presently 22.55%.

Insider Activity at nVent Electric

In other nVent Electric news, insider Michael B. Faulconer sold 10,961 shares of nVent Electric stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $67.33, for a total value of $738,004.13. Following the completion of the sale, the insider now owns 33,109 shares in the company, valued at approximately $2,229,228.97. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Joseph A. Ruzynski sold 2,500 shares of the stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $64.23, for a total transaction of $160,575.00. Following the sale, the insider now directly owns 36,013 shares of the company’s stock, valued at approximately $2,313,114.99. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Michael B. Faulconer sold 10,961 shares of the business’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $67.33, for a total value of $738,004.13. Following the completion of the transaction, the insider now directly owns 33,109 shares of the company’s stock, valued at approximately $2,229,228.97. The disclosure for this sale can be found here. Over the last three months, insiders have sold 400,252 shares of company stock worth $25,713,777. Corporate insiders own 2.50% of the company’s stock.

Wall Street Analyst Weigh In

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

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.