California Public Employees Retirement System Has $19.60 Million Stock Holdings in nVent Electric plc (NYSE:NVT)

California Public Employees Retirement System decreased its position in nVent Electric plc (NYSE:NVT) by 3.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 287,485 shares of the company’s stock after selling 9,947 shares during the period. California Public Employees Retirement System owned about 0.17% of nVent Electric worth $19,595,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Norges Bank acquired a new position in shares of nVent Electric in the fourth quarter valued at $197,434,000. Franklin Resources Inc. raised its stake in shares of nVent Electric by 22.1% in the 3rd quarter. Franklin Resources Inc. now owns 7,020,425 shares of the company’s stock valued at $527,374,000 after buying an additional 1,269,335 shares in the last quarter. Pictet Asset Management Holding SA lifted its holdings in shares of nVent Electric by 3,186.9% during the 4th quarter. Pictet Asset Management Holding SA now owns 711,343 shares of the company’s stock worth $48,485,000 after acquiring an additional 689,701 shares during the period. Impax Asset Management Group plc boosted its position in shares of nVent Electric by 2,764.1% during the 4th quarter. Impax Asset Management Group plc now owns 647,304 shares of the company’s stock valued at $43,626,000 after acquiring an additional 624,703 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in nVent Electric by 113.7% in the fourth quarter. JPMorgan Chase & Co. now owns 1,075,409 shares of the company’s stock valued at $73,300,000 after acquiring an additional 572,086 shares during the period. Institutional investors own 90.05% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on NVT. Royal Bank of Canada lifted their price objective on nVent Electric from $85.00 to $86.00 and gave the company an “outperform” rating in a report on Friday, February 7th. The Goldman Sachs Group decreased their price target on nVent Electric from $86.00 to $74.00 and set a “buy” rating on the stock in a research note on Wednesday. Barclays dropped their price objective on nVent Electric from $75.00 to $70.00 and set an “overweight” rating for the company in a research note on Friday. Citigroup reduced their target price on shares of nVent Electric from $91.00 to $90.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Finally, CL King raised shares of nVent Electric from a “neutral” rating to a “buy” rating and set a $70.00 target price on the stock in a report on Monday, March 17th. Six investment 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.com, nVent Electric currently has an average rating of “Buy” and an average target price of $77.50.

nVent Electric Price Performance

nVent Electric stock opened at $45.28 on Friday. The business’s fifty day moving average is $59.82 and its two-hundred day moving average is $68.29. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.28 and a current ratio of 1.73. The firm has a market cap of $7.47 billion, a P/E ratio of 23.10, a P/E/G ratio of 1.48 and a beta of 1.21. nVent Electric plc has a 52 week low of $41.90 and a 52 week high of $86.57.

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, hitting the consensus estimate of $0.59. nVent Electric had a net margin of 10.09% and a return on equity of 14.52%. Equities research analysts forecast that nVent Electric plc will post 3.04 earnings per share for the current fiscal year.

nVent Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 25th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.77%. The ex-dividend date is Friday, April 25th. nVent Electric’s dividend payout ratio (DPR) is presently 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.