New York State Teachers Retirement System Sells 18,963 Shares of nVent Electric PLC (NYSE:NVT)

New York State Teachers Retirement System decreased its position in nVent Electric PLC (NYSE:NVT - Free Report) by 9.8% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 173,667 shares of the company's stock after selling 18,963 shares during the period. New York State Teachers Retirement System owned about 0.11% of nVent Electric worth $9,104,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Capital A Wealth Management LLC acquired a new position in nVent Electric in the 4th quarter valued at approximately $27,000. Park Square Financial Group LLC acquired a new position in shares of nVent Electric in the 4th quarter worth approximately $38,000. Whipplewood Advisors LLC raised its holdings in shares of nVent Electric by 467.3% in the 1st quarter. Whipplewood Advisors LLC now owns 607 shares of the company's stock worth $32,000 after buying an additional 500 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of nVent Electric in the 4th quarter worth approximately $65,000. Finally, Huntington National Bank raised its holdings in shares of nVent Electric by 60.9% in the 4th quarter. Huntington National Bank now owns 985 shares of the company's stock worth $67,000 after buying an additional 373 shares in the last quarter. Institutional investors and hedge funds own 90.05% of the company's stock.

Insider Activity

In related news, EVP Lynnette R. Heath sold 4,041 shares of nVent Electric stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $61.35, for a total value of $247,915.35. Following the sale, the executive vice president owned 32,665 shares of the company's stock, valued at approximately $2,003,997.75. The trade was a 11.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.50% of the company's stock.

nVent Electric Trading Up 0.3%

NVT traded up $0.19 during mid-day trading on Tuesday, reaching $74.70. The stock had a trading volume of 881,805 shares, compared to its average volume of 1,954,517. The stock has a market capitalization of $12.30 billion, a P/E ratio of 21.34, a P/E/G ratio of 1.49 and a beta of 1.31. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.42 and a current ratio of 2.87. The firm's fifty day simple moving average is $67.10 and its two-hundred day simple moving average is $63.05. nVent Electric PLC has a 52 week low of $41.71 and a 52 week high of $81.55.

nVent Electric (NYSE:NVT - Get Free Report) last issued its quarterly earnings data on Friday, May 2nd. The company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.66 by $0.01. The business had revenue of $809.30 million for the quarter, compared to the consensus estimate of $790.74 million. nVent Electric had a return on equity of 13.54% and a net margin of 18.22%. The firm's revenue was up 10.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.78 EPS. On average, equities analysts predict that nVent Electric PLC will post 3.04 EPS for the current year.

nVent Electric Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Friday, July 18th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date of this dividend is Friday, July 18th. nVent Electric's dividend payout ratio is currently 22.86%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. The Goldman Sachs Group increased their target price on nVent Electric from $78.00 to $87.00 and gave the stock a "buy" rating in a report on Monday. Barclays increased their price target on nVent Electric from $70.00 to $74.00 and gave the stock an "overweight" rating in a research report on Monday, June 9th. Royal Bank Of Canada increased their price target on nVent Electric from $73.00 to $75.00 and gave the stock an "outperform" rating in a research report on Monday, May 5th. Citigroup decreased their price target on nVent Electric from $85.00 to $59.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Finally, CL King upgraded nVent Electric from a "neutral" rating to a "buy" rating and set a $70.00 price target on the stock in a research report on Monday, March 17th. Six 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 data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $72.83.

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.