Teacher Retirement System of Texas Sells 11,885 Shares of nVent Electric PLC $NVT

Key Points

• Teacher Retirement System of Texas cut its stake in nVent Electric by 28.3%, selling 11,885 shares and now holding 30,167 shares valued at about $3.08 million.
• Company insiders also trimmed positions—Directors Jerry W. Burris and Susan M. Cameron sold 5,244 and 5,000 shares respectively, with insiders selling 17,841 shares over the past three months while insiders own 1.7% and institutions own ~90.1% of the stock.
• Analysts remain broadly positive: the consensus is a “Moderate Buy” (11 Buy, 1 Hold) with an average target of $144, and nVent recently beat EPS and reported 41.9% revenue growth while declaring a $0.21 quarterly dividend.

Teacher Retirement System of Texas reduced its position in nVent Electric PLC (NYSE:NVT - Free Report) by 28.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 30,167 shares of the company's stock after selling 11,885 shares during the quarter. Teacher Retirement System of Texas' holdings in nVent Electric were worth $3,076,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. TABR Capital Management LLC purchased a new position in shares of nVent Electric during the 4th quarter valued at $3,284,000. Continuum Advisory LLC purchased a new stake in nVent Electric in the 3rd quarter worth $1,630,000. Nordea Investment Management AB increased its stake in nVent Electric by 10.0% in the 3rd quarter. Nordea Investment Management AB now owns 129,655 shares of the company's stock worth $12,671,000 after buying an additional 11,804 shares in the last quarter. Pacer Advisors Inc. raised its holdings in nVent Electric by 51.0% during the third quarter. Pacer Advisors Inc. now owns 30,535 shares of the company's stock valued at $3,012,000 after acquiring an additional 10,307 shares during the period. Finally, Robeco Institutional Asset Management B.V. raised its holdings in nVent Electric by 173.8% during the third quarter. Robeco Institutional Asset Management B.V. now owns 52,856 shares of the company's stock valued at $5,214,000 after acquiring an additional 33,549 shares during the period. 90.05% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other nVent Electric news, Director Jerry W. Burris sold 5,244 shares of nVent Electric stock in a transaction on Friday, February 6th. The shares were sold at an average price of $112.27, for a total transaction of $588,743.88. Following the completion of the transaction, the director directly owned 46,371 shares of the company's stock, valued at $5,206,072.17. The trade was a 10.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Susan M. Cameron sold 5,000 shares of the stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $114.52, for a total transaction of $572,600.00. Following the completion of the sale, the director directly owned 13,405 shares in the company, valued at approximately $1,535,140.60. This represents a 27.17% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 17,841 shares of company stock valued at $2,046,166 over the last three months. 1.70% of the stock is owned by company insiders.

Analyst Ratings Changes

NVT has been the subject of a number of recent analyst reports. Barclays upped their price objective on nVent Electric from $141.00 to $150.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 1st. Evercore assumed coverage on nVent Electric in a report on Monday, April 13th. They issued an "outperform" rating and a $160.00 price target on the stock. Glj Research assumed coverage on nVent Electric in a research note on Thursday, March 5th. They issued a "buy" rating and a $151.00 price target for the company. UBS Group reaffirmed a "buy" rating and set a $135.00 price objective on shares of nVent Electric in a report on Friday, March 13th. Finally, Roth Mkm lifted their price objective on shares of nVent Electric from $130.00 to $135.00 and gave the company a "buy" rating in a research report on Monday, March 23rd. Eleven equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $144.00.

nVent Electric Stock Performance

Shares of NYSE:NVT opened at $142.09 on Tuesday. The firm has a fifty day simple moving average of $121.59 and a two-hundred day simple moving average of $112.00. nVent Electric PLC has a 52 week low of $53.03 and a 52 week high of $145.31. The company has a quick ratio of 1.16, a current ratio of 1.63 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $22.98 billion, a P/E ratio of 33.04, a PEG ratio of 1.48 and a beta of 1.28.

nVent Electric (NYSE:NVT - Get Free Report) last issued its quarterly earnings data on Saturday, February 7th. The company reported $0.90 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.89 by $0.01. The business had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1 billion. nVent Electric had a return on equity of 15.18% and a net margin of 18.25%.The company's quarterly revenue was up 41.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.59 earnings per share. On average, analysts expect that nVent Electric PLC will post 4.15 earnings per share for the current fiscal year.

nVent Electric Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 8th. Investors of record on Friday, April 24th will be given a $0.21 dividend. The ex-dividend date is Friday, April 24th. This represents a $0.84 dividend on an annualized basis and a yield of 0.6%. nVent Electric's dividend payout ratio (DPR) is currently 19.53%.

nVent Electric Company Profile

nVent Electric PLC is a global manufacturer of electrical connection, protection and thermal management solutions. The company designs, engineers and produces a broad portfolio of products aimed at enhancing safety, reliability and performance in electrical systems across a variety of industries. Its core offerings include electrical enclosures, heat tracing systems, grounding and bonding products, cable management, and fastening solutions. nVent serves markets such as commercial and industrial construction, oil and gas, telecommunications, data centers, utilities, and renewable energy.

The company's electrical enclosures and housing solutions protect sensitive components from environmental hazards, while its Raychem brand heat tracing products provide freeze protection and temperature maintenance for critical piping and equipment.

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