Commonwealth of Pennsylvania Public School Empls Retrmt SYS Sells 239 Shares of nVent Electric plc (NYSE:NVT)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS decreased its stake in shares of nVent Electric plc (NYSE:NVT) by 0.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 36,400 shares of the company’s stock after selling 239 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in nVent Electric were worth $2,481,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Swedbank AB bought a new stake in nVent Electric during the 3rd quarter valued at approximately $110,663,000. Franklin Resources Inc. boosted its position in shares of nVent Electric by 22.1% during the third quarter. Franklin Resources Inc. now owns 7,020,425 shares of the company’s stock valued at $527,374,000 after purchasing an additional 1,269,335 shares in the last quarter. Clean Energy Transition LLP grew its stake in nVent Electric by 56.5% in the third quarter. Clean Energy Transition LLP now owns 2,254,633 shares of the company’s stock worth $158,411,000 after purchasing an additional 813,909 shares during the period. Impax Asset Management Group plc raised its holdings in nVent Electric by 2,764.1% in the fourth quarter. Impax Asset Management Group plc now owns 647,304 shares of the company’s stock worth $43,626,000 after purchasing an additional 624,703 shares in the last quarter. Finally, Artemis Investment Management LLP lifted its position in nVent Electric by 235.9% during the fourth quarter. Artemis Investment Management LLP now owns 763,075 shares of the company’s stock valued at $52,011,000 after buying an additional 535,881 shares during the period. Hedge funds and other institutional investors own 90.05% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on NVT shares. CL King upgraded shares of nVent Electric from a “neutral” rating to a “buy” rating and set a $70.00 price target for the company in a research note on Monday, March 17th. Royal Bank of Canada lifted their target price on shares of nVent Electric from $85.00 to $86.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Seaport Res Ptn upgraded nVent Electric from a “hold” rating to a “strong-buy” rating in a research note on Friday. Citigroup lowered their price objective on nVent Electric from $91.00 to $90.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Finally, Barclays cut their target price on nVent Electric from $88.00 to $83.00 and set an “overweight” rating on the stock in a research note on Monday, March 3rd. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $83.33.

nVent Electric Stock Up 2.8 %

nVent Electric stock opened at $58.72 on Tuesday. nVent Electric plc has a 12 month low of $51.99 and a 12 month high of $86.57. The stock has a fifty day simple moving average of $63.43 and a two-hundred day simple moving average of $69.03. The company has a current ratio of 1.73, a quick ratio of 1.28 and a debt-to-equity ratio of 0.65. The firm has a market cap of $9.69 billion, a price-to-earnings ratio of 29.96, a PEG ratio of 1.48 and a beta of 1.31.

nVent Electric (NYSE:NVT) last issued its earnings results on Thursday, February 6th. The company reported $0.59 earnings per share 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%. Equities analysts predict that nVent Electric plc will post 3.04 EPS for the current fiscal year.

nVent Electric Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 25th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.36%. The ex-dividend date of this dividend is Friday, April 25th. nVent Electric’s dividend payout ratio is currently 40.82%.

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.