Retirement Systems of Alabama Reduces Holdings in nVent Electric plc (NYSE:NVT)

Retirement Systems of Alabama reduced its stake in shares of nVent Electric plc (NYSE:NVT - Free Report) by 4.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 386,472 shares of the company's stock after selling 16,565 shares during the period. Retirement Systems of Alabama owned 0.23% of nVent Electric worth $27,154,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Larson Financial Group LLC raised its holdings in shares of nVent Electric by 91.9% in the third quarter. Larson Financial Group LLC now owns 378 shares of the company's stock worth $27,000 after acquiring an additional 181 shares during the last quarter. ORG Partners LLC purchased a new stake in nVent Electric during the 2nd quarter worth about $31,000. ORG Wealth Partners LLC acquired a new position in nVent Electric in the 3rd quarter valued at about $29,000. UMB Bank n.a. lifted its holdings in nVent Electric by 280.0% in the 3rd quarter. UMB Bank n.a. now owns 418 shares of the company's stock valued at $29,000 after purchasing an additional 308 shares in the last quarter. Finally, First Foundation Advisors purchased a new position in nVent Electric in the 2nd quarter valued at about $34,000. Hedge funds and other institutional investors own 90.05% of the company's stock.

Analysts Set New Price Targets

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

Insider Buying and Selling

In other nVent Electric news, CFO Sara E. Zawoyski sold 14,505 shares of the business's stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $76.76, for a total transaction of $1,113,403.80. Following the transaction, the chief financial officer now owns 62,215 shares in the company, valued at $4,775,623.40. The trade was a 18.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Jerry W. Burris sold 6,558 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $80.00, for a total value of $524,640.00. Following the completion of the sale, the director now owns 45,040 shares of the company's stock, valued at approximately $3,603,200. This trade represents a 12.71 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 96,382 shares of company stock valued at $7,365,956. 2.50% of the stock is currently owned by corporate insiders.

nVent Electric Trading Down 0.7 %

NYSE:NVT traded down $0.56 during trading hours on Friday, reaching $75.03. 1,439,354 shares of the company were exchanged, compared to its average volume of 1,569,457. The firm has a market cap of $12.37 billion, a price-to-earnings ratio of 21.99, a PEG ratio of 3.88 and a beta of 1.25. The stock has a 50 day simple moving average of $74.96 and a 200 day simple moving average of $72.78. nVent Electric plc has a 52-week low of $55.19 and a 52-week 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.

nVent Electric (NYSE:NVT - Get Free Report) last issued its earnings results 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). 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 during the quarter, compared to analysts' expectations of $937.37 million. The company's quarterly revenue was up 9.4% compared to the same quarter last year. During the same period last year, the business posted $0.84 earnings per share. As a group, analysts predict that nVent Electric plc will post 2.5 EPS for the current year.

nVent Electric Dividend Announcement

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

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.