State of Alaska Department of Revenue Lowers Stock Position in nVent Electric plc (NYSE:NVT)

State of Alaska Department of Revenue lowered its position in nVent Electric plc (NYSE:NVT) by 1.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 33,562 shares of the company’s stock after selling 520 shares during the period. State of Alaska Department of Revenue’s holdings in nVent Electric were worth $2,286,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Calamos Advisors LLC raised its holdings in shares of nVent Electric by 1.6% in the fourth quarter. Calamos Advisors LLC now owns 11,468 shares of the company’s stock valued at $782,000 after purchasing an additional 176 shares during the last quarter. Alliance Wealth Advisors LLC UT raised its holdings in shares of nVent Electric by 3.4% in the fourth quarter. Alliance Wealth Advisors LLC UT now owns 14,033 shares of the company’s stock valued at $956,000 after purchasing an additional 467 shares during the last quarter. Copeland Capital Management LLC purchased a new stake in shares of nVent Electric in the fourth quarter valued at about $26,889,000. Crews Bank & Trust purchased a new stake in nVent Electric during the fourth quarter worth about $26,000. Finally, Busey Bank increased its holdings in nVent Electric by 1.0% during the fourth quarter. Busey Bank now owns 206,997 shares of the company’s stock worth $14,109,000 after buying an additional 2,067 shares during the last quarter. Hedge funds and other institutional investors own 90.05% of the company’s stock.

Insider Activity

In other nVent Electric news, Director Jerry W. Burris sold 6,558 shares of nVent Electric stock in a transaction that occurred 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 directly owns 45,040 shares in the company, valued at $3,603,200. The trade was a 12.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.50% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Royal Bank of Canada raised 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. KeyCorp raised their price objective on shares of nVent Electric from $80.00 to $84.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Citigroup decreased their price objective on shares of nVent Electric from $91.00 to $90.00 and set a “buy” rating for the company in a report on Monday, January 13th. Finally, Barclays raised their price objective on shares of nVent Electric from $76.00 to $88.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $86.33.

nVent Electric Price Performance

NVT stock opened at $68.43 on Tuesday. The firm has a 50 day moving average of $70.68 and a 200-day moving average of $70.24. The company has a current ratio of 1.73, a quick ratio of 1.36 and a debt-to-equity ratio of 0.65. nVent Electric plc has a 12 month low of $56.44 and a 12 month high of $86.57. The firm has a market capitalization of $11.28 billion, a P/E ratio of 34.91, a price-to-earnings-growth ratio of 3.01 and a beta of 1.26.

nVent Electric (NYSE:NVT) last released its quarterly earnings data on Thursday, February 6th. The company reported $0.59 EPS for the quarter, meeting analysts’ consensus estimates of $0.59. nVent Electric had a net margin of 10.09% and a return on equity of 14.52%. As a group, sell-side analysts predict that nVent Electric plc will post 3.03 earnings per share for the current fiscal year.

nVent Electric Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Friday, January 17th were given a $0.20 dividend. This is a positive change from nVent Electric’s previous quarterly dividend of $0.19. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date was Friday, January 17th. nVent Electric’s dividend payout ratio (DPR) is 40.82%.

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.