Teachers Retirement System of The State of Kentucky Has $3.17 Million Position in nVent Electric plc (NYSE:NVT)

Teachers Retirement System of The State of Kentucky reduced its holdings in nVent Electric plc (NYSE:NVT) by 4.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 53,591 shares of the company’s stock after selling 2,600 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in nVent Electric were worth $3,167,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of NVT. Janney Montgomery Scott LLC lifted its holdings in nVent Electric by 7.1% in the third quarter. Janney Montgomery Scott LLC now owns 9,736 shares of the company’s stock valued at $516,000 after buying an additional 647 shares during the period. HighTower Advisors LLC increased its stake in nVent Electric by 71.2% in the third quarter. HighTower Advisors LLC now owns 36,318 shares of the company’s stock valued at $1,930,000 after purchasing an additional 15,103 shares in the last quarter. UBS Group AG increased its stake in nVent Electric by 40.5% in the third quarter. UBS Group AG now owns 44,173 shares of the company’s stock valued at $2,341,000 after purchasing an additional 12,742 shares in the last quarter. Blair William & Co. IL bought a new stake in nVent Electric in the third quarter valued at approximately $214,000. Finally, Citigroup Inc. increased its stake in nVent Electric by 73.9% in the third quarter. Citigroup Inc. now owns 71,372 shares of the company’s stock valued at $3,782,000 after purchasing an additional 30,325 shares in the last quarter. 90.05% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have commented on NVT. Royal Bank of Canada lowered their target price on shares of nVent Electric from $89.00 to $88.00 and set an “outperform” rating for the company in a research note on Monday, May 6th. 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 target price for the company. The Goldman Sachs Group upped their target price on shares of nVent Electric from $77.00 to $87.00 and gave the company a “buy” rating in a research note on Monday, May 6th. Citigroup increased their price objective on shares of nVent Electric from $91.00 to $92.00 and gave the stock a “buy” rating in a research report on Monday, May 6th. Finally, Barclays increased their price objective on shares of nVent Electric from $85.00 to $95.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 4th. One analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $89.00.

nVent Electric Stock Up 1.7 %

Shares of NVT stock opened at $79.76 on Thursday. The firm has a fifty day moving average of $78.13 and a 200-day moving average of $68.78. The company has a quick ratio of 1.35, a current ratio of 1.99 and a debt-to-equity ratio of 0.54. nVent Electric plc has a 12-month low of $45.60 and a 12-month high of $86.57. The company has a market capitalization of $13.24 billion, a price-to-earnings ratio of 23.25, a P/E/G ratio of 1.81 and a beta of 1.31.

nVent Electric (NYSE:NVT) last announced its earnings results on Friday, May 3rd. The company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.73 by $0.04. nVent Electric had a net margin of 17.02% and a return on equity of 17.47%. The business had revenue of $874.60 million during the quarter, compared to analysts’ expectations of $864.14 million. During the same quarter in the prior year, the company posted $0.67 earnings per share. The firm’s revenue was up 18.0% on a year-over-year basis. As a group, equities research analysts predict that nVent Electric plc will post 3.27 earnings per share for the current fiscal year.

nVent Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 2nd. Investors of record on Friday, July 19th will be issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 0.95%. The ex-dividend date is Friday, July 19th. nVent Electric’s payout ratio is 22.16%.

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.