Teacher Retirement System of Texas Reduces Stock Holdings in nVent Electric plc (NYSE:NVT)

Teacher Retirement System of Texas lessened its stake in shares of nVent Electric plc (NYSE:NVT) by 43.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 28,553 shares of the company’s stock after selling 22,346 shares during the period. Teacher Retirement System of Texas’ holdings in nVent Electric were worth $1,946,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Advisors Asset Management Inc. increased its position in nVent Electric by 5.1% during the third quarter. Advisors Asset Management Inc. now owns 6,153 shares of the company’s stock valued at $432,000 after acquiring an additional 301 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in nVent Electric by 0.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,035,463 shares of the company’s stock worth $72,752,000 after purchasing an additional 3,599 shares during the period. Citigroup Inc. lifted its stake in nVent Electric by 3.3% in the third quarter. Citigroup Inc. now owns 62,044 shares of the company’s stock worth $4,359,000 after purchasing an additional 1,959 shares during the last quarter. Cerity Partners LLC boosted its position in shares of nVent Electric by 145.7% during the third quarter. Cerity Partners LLC now owns 45,248 shares of the company’s stock valued at $3,179,000 after buying an additional 26,832 shares during the period. Finally, Larson Financial Group LLC grew its stake in shares of nVent Electric by 91.9% during the third quarter. Larson Financial Group LLC now owns 378 shares of the company’s stock valued at $27,000 after buying an additional 181 shares during the last quarter. Hedge funds and other institutional investors own 90.05% of the company’s stock.

Analyst Ratings Changes

NVT has been the subject of a number of research analyst reports. Citigroup decreased their price target 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. Seaport Res Ptn raised shares of nVent Electric from a “hold” rating to a “strong-buy” rating in a research report on Friday, March 21st. CL King raised 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. Barclays dropped their price objective on nVent Electric from $83.00 to $75.00 and set an “overweight” rating on the stock in a research note on Wednesday. Finally, Royal Bank of Canada increased 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. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, nVent Electric currently has a consensus rating of “Buy” and an average target price of $82.00.

nVent Electric Stock Down 2.1 %

Shares of NVT stock opened at $54.61 on Friday. The stock’s fifty day moving average price is $62.58 and its 200 day moving average price is $68.82. nVent Electric plc has a 1-year low of $51.99 and a 1-year high of $86.57. The company has a market cap of $9.01 billion, a price-to-earnings ratio of 27.86, a price-to-earnings-growth ratio of 1.48 and a beta of 1.31. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.73 and a quick ratio of 1.28.

nVent Electric (NYSE:NVT) last issued its quarterly 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%. On average, research analysts expect that nVent Electric plc will post 3.04 earnings per share for the current fiscal year.

nVent Electric Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 25th will be issued a $0.20 dividend. The ex-dividend date is Friday, April 25th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.46%. nVent Electric’s dividend payout ratio is currently 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.