Arizona State Retirement System Purchases 434 Shares of nVent Electric plc (NYSE:NVT)

Arizona State Retirement System increased its holdings in shares of nVent Electric plc (NYSE:NVT) by 0.9% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 48,238 shares of the company’s stock after purchasing an additional 434 shares during the period. Arizona State Retirement System’s holdings in nVent Electric were worth $3,288,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. Proficio Capital Partners LLC bought a new position in shares of nVent Electric during the 4th quarter worth approximately $3,986,000. Keybank National Association OH lifted its holdings in nVent Electric by 2.5% during the 4th quarter. Keybank National Association OH now owns 9,509 shares of the company’s stock valued at $648,000 after purchasing an additional 229 shares during the last quarter. LGT Fund Management Co Ltd. acquired a new stake in nVent Electric during the 4th quarter valued at $238,000. SBI Securities Co. Ltd. bought a new position in nVent Electric during the fourth quarter worth $65,000. Finally, Jones Financial Companies Lllp raised its position in shares of nVent Electric by 109.1% in the fourth quarter. Jones Financial Companies Lllp now owns 1,303 shares of the company’s stock valued at $89,000 after purchasing an additional 680 shares during the period. Institutional investors and hedge funds own 90.05% of the company’s stock.

Wall Street Analysts Forecast Growth

NVT has been the subject of several research analyst reports. Royal Bank of Canada lifted their target price on shares of nVent Electric from $85.00 to $86.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Citigroup reduced their price objective on 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 decreased their target price on nVent Electric from $88.00 to $83.00 and set an “overweight” rating on the stock in a research report on Monday, March 3rd. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $85.50.

nVent Electric Stock Performance

NYSE NVT opened at $55.02 on Monday. The firm has a 50-day moving average price of $66.36 and a two-hundred day moving average price of $69.77. nVent Electric plc has a 12-month low of $52.78 and a 12-month high of $86.57. The company has a market capitalization of $9.08 billion, a P/E ratio of 28.07, a P/E/G ratio of 1.48 and a beta of 1.31. The company has a quick ratio of 1.28, a current ratio of 1.73 and a debt-to-equity ratio of 0.65.

nVent Electric (NYSE:NVT) last issued its quarterly earnings results on Thursday, February 6th. The company reported $0.59 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.59. nVent Electric had a return on equity of 14.52% and a net margin of 10.09%. Analysts anticipate that nVent Electric plc will post 3.04 earnings per share for the current year.

nVent Electric Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 25th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date is Friday, April 25th. nVent Electric’s dividend payout ratio (DPR) is presently 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.