Public Employees Retirement System of Ohio Sells 7,922 Shares of nVent Electric plc (NYSE:NVT)

Public Employees Retirement System of Ohio decreased its holdings in shares of nVent Electric plc (NYSE:NVT - Free Report) by 8.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 90,281 shares of the company's stock after selling 7,922 shares during the quarter. Public Employees Retirement System of Ohio owned about 0.05% of nVent Electric worth $6,154,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in NVT. Capital Research Global Investors acquired a new stake in shares of nVent Electric in the 4th quarter valued at about $384,749,000. Norges Bank acquired a new stake in shares of nVent Electric in the 4th quarter worth approximately $197,434,000. Millennium Management LLC lifted its stake in shares of nVent Electric by 743.7% in the 4th quarter. Millennium Management LLC now owns 2,215,624 shares of the company's stock worth $151,017,000 after acquiring an additional 1,953,026 shares during the period. Champlain Investment Partners LLC acquired a new stake in nVent Electric during the fourth quarter valued at approximately $86,738,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in nVent Electric by 145.8% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,466,560 shares of the company's stock valued at $99,961,000 after purchasing an additional 869,906 shares during the last quarter. Institutional investors and hedge funds own 90.05% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on NVT shares. Barclays upped their price target on shares of nVent Electric from $65.00 to $70.00 and gave the company an "overweight" rating in a research 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 target price on the stock in a research note on Monday, March 17th. Royal Bank of Canada increased their price target on shares of nVent Electric from $73.00 to $75.00 and gave the company an "outperform" rating in a report on Monday, May 5th. Citigroup decreased their target price on shares of 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, KeyCorp boosted their price target on shares of nVent Electric from $60.00 to $72.00 and gave the company an "overweight" rating in a research report on Monday, May 5th. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, nVent Electric currently has a consensus rating of "Buy" and a consensus target price of $70.00.

Insider Transactions at nVent Electric

In other nVent Electric news, EVP Lynnette R. Heath sold 4,041 shares of the business's 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 completion of the transaction, the executive vice president now owns 32,665 shares of the company's stock, valued at approximately $2,003,997.75. The trade was a 11.01% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.80% of the company's stock.

nVent Electric Stock Down 1.2%

Shares of nVent Electric stock traded down $0.78 during trading on Friday, reaching $65.75. 2,849,830 shares of the company traded hands, compared to its average volume of 1,942,440. 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 plc has a 1-year low of $41.71 and a 1-year high of $82.05. The company has a 50 day moving average price of $56.92 and a 200-day moving average price of $63.97. The firm has a market capitalization of $10.82 billion, a PE ratio of 33.55, a P/E/G ratio of 1.48 and a beta of 1.24.

nVent Electric (NYSE:NVT - Get Free Report) last issued its earnings results on Friday, May 2nd. The company reported $0.67 earnings per share for the quarter, topping analysts' consensus estimates of $0.66 by $0.01. nVent Electric had a net margin of 10.09% and a return on equity of 14.52%. The firm had revenue of $809.30 million during the quarter, compared to analyst estimates of $790.74 million. During the same quarter last year, the business earned $0.78 earnings per share. The company's quarterly revenue was up 10.5% on a year-over-year basis. As a group, equities research analysts expect that nVent Electric plc will post 3.04 earnings per share for the current fiscal year.

nVent Electric Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Friday, July 18th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.22%. The ex-dividend date of this dividend is Friday, July 18th. nVent Electric's dividend payout ratio is 22.86%.

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.