Public Employees Retirement System of Ohio Buys Shares of 98,203 nVent Electric plc (NYSE:NVT)

Public Employees Retirement System of Ohio acquired a new position in nVent Electric plc (NYSE:NVT - Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 98,203 shares of the company's stock, valued at approximately $6,900,000. Public Employees Retirement System of Ohio owned about 0.06% of nVent Electric as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in NVT. CWM LLC raised its holdings in nVent Electric by 132.0% during the second quarter. CWM LLC now owns 2,513 shares of the company's stock valued at $193,000 after buying an additional 1,430 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in shares of nVent Electric by 2.2% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 30,445 shares of the company's stock valued at $2,332,000 after acquiring an additional 657 shares in the last quarter. ORG Partners LLC acquired a new stake in nVent Electric in the 2nd quarter worth approximately $31,000. Envestnet Portfolio Solutions Inc. boosted its position in nVent Electric by 10.0% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 14,720 shares of the company's stock worth $1,128,000 after purchasing an additional 1,333 shares during the period. Finally, Nisa Investment Advisors LLC grew its holdings in nVent Electric by 50.8% during the second quarter. Nisa Investment Advisors LLC now owns 34,205 shares of the company's stock valued at $2,620,000 after purchasing an additional 11,523 shares during the last quarter. Institutional investors own 90.05% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. KeyCorp boosted their price objective on shares of nVent Electric from $80.00 to $84.00 and gave the stock an "overweight" rating in a research note on Monday, October 14th. Barclays boosted their target price on shares of nVent Electric from $76.00 to $88.00 and gave the stock an "overweight" rating in a research report on Thursday, December 5th. Citigroup raised their price target on nVent Electric from $78.00 to $91.00 and gave the company a "buy" rating in a research report on Monday, December 9th. Finally, Royal Bank of Canada cut their price objective on nVent Electric from $82.00 to $80.00 and set an "outperform" rating for the company in a research report on Monday, November 4th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $85.50.

Insider Transactions at nVent Electric

In related news, EVP Jon D. Lammers sold 67,297 shares of the firm's stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $76.07, for a total transaction of $5,119,282.79. Following the completion of the transaction, the executive vice president now owns 58,121 shares in the company, valued at $4,421,264.47. This trade represents a 53.66 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jerry W. Burris sold 6,558 shares of the business's stock in a transaction on Monday, November 25th. The shares were sold at an average price of $80.00, for a total transaction of $524,640.00. Following the completion of the sale, the director now owns 45,040 shares in the company, valued at $3,603,200. This represents a 12.71 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 96,382 shares of company stock valued at $7,365,956. Company insiders own 2.50% of the company's stock.

nVent Electric Stock Performance

Shares of NYSE NVT traded down $0.56 during mid-day trading on Friday, hitting $75.03. The company had a trading volume of 1,439,354 shares, compared to its average volume of 1,569,457. nVent Electric plc has a 12 month low of $55.19 and a 12 month high of $86.57. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.83 and a quick ratio of 1.36. The firm has a market cap of $12.37 billion, a P/E ratio of 21.99, a PEG ratio of 3.88 and a beta of 1.25. The business's 50-day simple moving average is $74.96 and its 200-day simple moving average is $72.78.

nVent Electric (NYSE:NVT - Get Free Report) last announced its quarterly earnings data on Tuesday, November 5th. The company reported $0.63 earnings per share for the quarter, missing the consensus estimate of $0.81 by ($0.18). The firm had revenue of $782.00 million for the quarter, compared to analyst estimates of $937.37 million. nVent Electric had a return on equity of 15.66% and a net margin of 16.95%. nVent Electric's revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.84 EPS. As a group, analysts predict that nVent Electric plc will post 2.5 earnings per share for the current fiscal year.

nVent Electric Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 18th were issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date was Friday, October 18th. nVent Electric's payout ratio is 22.29%.

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.