State of New Jersey Common Pension Fund D Sells 4,540 Shares of nVent Electric PLC $NVT

Key Points

• The State of New Jersey Common Pension Fund D sold 4,540 shares of nVent Electric PLC, reducing its holdings by 7.4% to a value of approximately $2,999,000.
• American Century Companies Inc. significantly increased its investment in nVent Electric by 1,869.8%, acquiring 1,388,578 additional shares in the first quarter.
• Analysts have mostly positive ratings for nVent Electric, with a consensus rating of Buy and an average target price of $87.00.

State of New Jersey Common Pension Fund D cut its holdings in shares of nVent Electric PLC (NYSE:NVT - Free Report) by 7.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 57,219 shares of the company's stock after selling 4,540 shares during the period. State of New Jersey Common Pension Fund D's holdings in nVent Electric were worth $2,999,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in NVT. Nuveen LLC acquired a new stake in nVent Electric during the first quarter valued at approximately $229,615,000. Millennium Management LLC lifted its position 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 valued at $151,017,000 after acquiring an additional 1,953,026 shares in the last quarter. American Century Companies Inc. boosted its stake in nVent Electric by 1,869.8% in the 1st quarter. American Century Companies Inc. now owns 1,462,840 shares of the company's stock worth $76,682,000 after purchasing an additional 1,388,578 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in nVent Electric by 145.8% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,466,560 shares of the company's stock worth $99,961,000 after purchasing an additional 869,906 shares in the last quarter. Finally, Balyasny Asset Management L.P. grew its position in nVent Electric by 16,062.5% during the 4th quarter. Balyasny Asset Management L.P. now owns 875,197 shares of the company's stock worth $59,653,000 after purchasing an additional 869,782 shares in the last quarter. 90.05% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have weighed in on NVT shares. KeyCorp lifted their price objective on shares of nVent Electric from $78.00 to $84.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 15th. Citigroup lifted their price objective on shares of nVent Electric from $69.00 to $86.00 and gave the stock a "buy" rating in a research report on Monday, July 14th. Wall Street Zen upgraded shares of nVent Electric from a "hold" rating to a "buy" rating in a research report on Saturday, July 12th. Roth Capital reiterated a "buy" rating and set a $100.00 price objective (up from $89.00) on shares of nVent Electric in a research report on Monday, August 4th. Finally, Royal Bank Of Canada reiterated an "outperform" rating and set a $102.00 price objective (up from $85.00) on shares of nVent Electric in a research report on Monday, August 4th. One research analyst has rated the stock with a Strong Buy rating and seven have given a Buy rating to the stock. According to MarketBeat.com, nVent Electric presently has a consensus rating of "Buy" and a consensus price target of $87.00.

nVent Electric Stock Up 1.7%

NVT stock traded up $1.53 during midday trading on Tuesday, reaching $90.93. The company had a trading volume of 1,179,276 shares, compared to its average volume of 2,340,542. nVent Electric PLC has a 1 year low of $41.71 and a 1 year high of $92.75. The company has a current ratio of 1.67, a quick ratio of 1.20 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $14.63 billion, a P/E ratio of 25.91, a PEG ratio of 1.44 and a beta of 1.35. The company has a 50 day moving average of $80.00 and a two-hundred day moving average of $66.59.

nVent Electric (NYSE:NVT - Get Free Report) last released its earnings results on Friday, August 1st. The company reported $0.86 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.79 by $0.07. nVent Electric had a net margin of 17.72% and a return on equity of 13.36%. The company had revenue of $963.10 million during the quarter, compared to the consensus estimate of $906.96 million. During the same quarter in the prior year, the firm earned $0.82 EPS. The company's revenue was up 30.1% compared to the same quarter last year. nVent Electric has set its Q3 2025 guidance at 0.860-0.880 EPS. FY 2025 guidance at 3.220-3.300 EPS. On average, equities research analysts expect that nVent Electric PLC will post 3.04 earnings per share for the current fiscal year.

Insider Buying and Selling

In other nVent Electric news, CEO Beth Wozniak sold 42,331 shares of nVent Electric stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $89.21, for a total value of $3,776,348.51. Following the completion of the sale, the chief executive officer directly owned 49,196 shares in the company, valued at $4,388,775.16. The trade was a 46.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Aravind Padmanabhan sold 24,534 shares of nVent Electric stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $90.00, for a total transaction of $2,208,060.00. Following the completion of the sale, the executive vice president owned 12,063 shares of the company's stock, valued at $1,085,670. This trade represents a 67.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 261,111 shares of company stock worth $23,367,520. Insiders own 2.50% of the company's stock.

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.