Teacher Retirement System of Texas Increases Position in nVent Electric PLC (NYSE:NVT)

Teacher Retirement System of Texas lifted its position in shares of nVent Electric PLC (NYSE:NVT - Free Report) by 42.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 40,683 shares of the company's stock after buying an additional 12,130 shares during the quarter. Teacher Retirement System of Texas' holdings in nVent Electric were worth $2,133,000 at the end of the most recent quarter.

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

nVent Electric Trading Up 0.4%

nVent Electric stock traded up $0.28 during trading on Friday, reaching $74.95. 1,677,199 shares of the company were exchanged, compared to its average volume of 1,983,141. The stock's 50 day simple moving average is $68.26 and its two-hundred day simple moving average is $63.25. The company has a market capitalization of $12.34 billion, a P/E ratio of 21.41, a PEG ratio of 1.49 and a beta of 1.31. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.87 and a quick ratio of 2.42. 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 announced its quarterly earnings results on Friday, May 2nd. The company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.01. nVent Electric had a net margin of 18.22% and a return on equity of 13.54%. The firm had revenue of $809.30 million for the quarter, compared to analysts' expectations of $790.74 million. During the same quarter in the previous year, the company posted $0.78 EPS. The company's revenue was up 10.5% compared to the same quarter last year. On average, 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 declared a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Friday, July 18th will be issued a dividend of $0.20 per share. The ex-dividend date is Friday, July 18th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.07%. nVent Electric's dividend payout ratio is currently 22.86%.

Analyst Ratings Changes

Several analysts have weighed in on the company. Seaport Res Ptn upgraded nVent Electric from a "hold" rating to a "strong-buy" rating in a research note on Friday, March 21st. CL King upgraded shares of nVent Electric from a "neutral" rating to a "buy" rating and set a $70.00 price objective for the company in a research note on Monday, March 17th. Citigroup dropped their price target on shares of nVent Electric from $85.00 to $59.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Barclays boosted their target price on shares of nVent Electric from $74.00 to $80.00 and gave the stock an "overweight" rating in a research note on Wednesday. Finally, KeyCorp raised their price target on shares of nVent Electric from $60.00 to $72.00 and gave the company an "overweight" rating in a research note on Monday, May 5th. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $73.83.

Insider Activity at nVent Electric

In related news, EVP Lynnette R. Heath sold 4,041 shares of the stock in a transaction that occurred on 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 directly owned 32,665 shares in the company, valued at approximately $2,003,997.75. This represents a 11.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.80% 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.