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 shares of nVent Electric PLC (NYSE:NVT - Free Report) by 9.8% during the 1st quarter, according to its most recent filing with the Securities and 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 filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Farther Finance Advisors LLC boosted its position in nVent Electric by 381.0% in the first quarter. Farther Finance Advisors LLC now owns 1,996 shares of the company's stock valued at $106,000 after buying an additional 1,581 shares in the last quarter. LPL Financial LLC raised its stake in nVent Electric by 12.6% during the fourth quarter. LPL Financial LLC now owns 140,043 shares of the company's stock worth $9,545,000 after buying an additional 15,685 shares during the last quarter. GAMMA Investing LLC raised its stake in nVent Electric by 74.3% during the first quarter. GAMMA Investing LLC now owns 3,476 shares of the company's stock worth $182,000 after buying an additional 1,482 shares during the last quarter. Janney Montgomery Scott LLC increased its stake in nVent Electric by 6.2% in the first quarter. Janney Montgomery Scott LLC now owns 27,252 shares of the company's stock valued at $1,429,000 after purchasing an additional 1,591 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its stake in nVent Electric by 27.4% in the first quarter. Robeco Institutional Asset Management B.V. now owns 19,307 shares of the company's stock valued at $1,012,000 after purchasing an additional 4,149 shares in the last quarter. Institutional investors and hedge funds own 90.05% of the company's stock.

Wall Street Analysts Forecast Growth

NVT has been the subject of a number of analyst reports. Seaport Res Ptn upgraded shares of nVent Electric from a "hold" rating to a "strong-buy" rating in a report on Friday, March 21st. Citigroup cut their price target on shares of nVent Electric from $85.00 to $59.00 and set a "buy" rating on the stock in a report on Monday, April 14th. KeyCorp boosted their price target on shares of nVent Electric from $60.00 to $72.00 and gave the stock an "overweight" rating in a report on Monday, May 5th. CL King upgraded shares of nVent Electric from a "neutral" rating to a "buy" rating and set a $70.00 price target on the stock in a report on Monday, March 17th. Finally, Barclays boosted their price target on shares of nVent Electric from $70.00 to $74.00 and gave the stock an "overweight" rating in a report on Monday, June 9th. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $72.83.

Insider Buying and Selling at nVent Electric

In other news, EVP Lynnette R. Heath sold 4,041 shares of the stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $61.35, for a total value of $247,915.35. Following the completion of the sale, the executive vice president directly owned 32,665 shares of the company's stock, valued at $2,003,997.75. This represents a 11.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.50% of the stock is owned by corporate insiders.

nVent Electric Price Performance

Shares of nVent Electric stock traded down $1.05 on Monday, hitting $73.87. 650,850 shares of the company traded hands, compared to its average volume of 2,174,453. The company has a market cap of $12.16 billion, a P/E ratio of 21.10, a P/E/G ratio of 1.49 and a beta of 1.31. The firm's 50-day simple moving average is $66.70 and its 200 day simple moving average is $63.02. nVent Electric PLC has a 12-month low of $41.71 and a 12-month high of $81.55. The company has a current ratio of 2.87, a quick ratio of 2.42 and a debt-to-equity ratio of 0.48.

nVent Electric (NYSE:NVT - Get Free Report) last posted 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 analyst estimates of $790.74 million. nVent Electric had a net margin of 18.22% and a return on equity of 13.54%. nVent Electric's quarterly revenue was up 10.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.78 earnings per share. Analysts expect that nVent Electric PLC will post 3.04 earnings per share for the current fiscal year.

nVent Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Friday, July 18th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.08%. The ex-dividend date is Friday, July 18th. nVent Electric's dividend payout ratio is presently 22.86%.

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.