California Public Employees Retirement System Cuts Stock Position in nVent Electric plc (NYSE:NVT)

California Public Employees Retirement System reduced its stake in shares of nVent Electric plc (NYSE:NVT - Free Report) by 3.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 287,485 shares of the company's stock after selling 9,947 shares during the quarter. California Public Employees Retirement System owned 0.17% of nVent Electric worth $19,595,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in NVT. Nordea Investment Management AB raised its holdings in shares of nVent Electric by 16.9% in the fourth quarter. Nordea Investment Management AB now owns 93,172 shares of the company's stock valued at $6,378,000 after buying an additional 13,483 shares during the last quarter. Geode Capital Management LLC increased its stake in nVent Electric by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 2,773,168 shares of the company's stock valued at $194,894,000 after buying an additional 29,794 shares during the last quarter. Harbor Capital Advisors Inc. bought a new stake in nVent Electric during the fourth quarter worth $1,520,000. TT International Asset Management LTD raised its stake in nVent Electric by 20.4% in the 4th quarter. TT International Asset Management LTD now owns 108,395 shares of the company's stock valued at $7,388,000 after acquiring an additional 18,376 shares during the period. Finally, LVM Capital Management Ltd. MI lifted its holdings in nVent Electric by 8.1% during the 4th quarter. LVM Capital Management Ltd. MI now owns 151,221 shares of the company's stock worth $10,307,000 after purchasing an additional 11,349 shares during the last quarter. Institutional investors and hedge funds own 90.05% of the company's stock.

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nVent Electric Stock Performance

Shares of NVT traded up $6.76 during mid-day trading on Wednesday, hitting $51.96. The stock had a trading volume of 3,262,216 shares, compared to its average volume of 1,870,650. The business has a fifty day moving average price of $58.18 and a 200-day moving average price of $67.55. nVent Electric plc has a 52 week low of $41.71 and a 52 week high of $86.57. The firm has a market cap of $8.57 billion, a P/E ratio of 26.51, a PEG ratio of 1.48 and a beta of 1.21. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.73 and a quick ratio of 1.28.

nVent Electric (NYSE:NVT - Get Free Report) last posted its quarterly earnings results on Thursday, February 6th. The company reported $0.59 EPS for the quarter, hitting analysts' consensus estimates of $0.59. nVent Electric had a return on equity of 14.52% and a net margin of 10.09%. On average, equities research analysts expect that nVent Electric plc will post 3.04 EPS for the current year.

nVent Electric Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 25th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.54%. The ex-dividend date is Friday, April 25th. nVent Electric's payout ratio is 40.82%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on NVT shares. KeyCorp dropped their price target on nVent Electric from $75.00 to $60.00 and set an "overweight" rating for the company in a research note on Tuesday. Citigroup dropped their price target on nVent Electric from $91.00 to $90.00 and set a "buy" rating on the stock in a research note on Monday, January 13th. CL King raised shares of nVent Electric from a "neutral" rating to a "buy" rating and set a $70.00 price objective on the stock in a research report on Monday, March 17th. Royal Bank of Canada upped their price objective on shares of nVent Electric from $85.00 to $86.00 and gave the stock an "outperform" rating in a report on Friday, February 7th. Finally, The Goldman Sachs Group cut their price objective on shares of nVent Electric from $86.00 to $74.00 and set a "buy" rating on the stock in a report on Wednesday, April 2nd. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $75.00.

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.