Teza Capital Management LLC Has $1.75 Million Stock Position in nVent Electric plc (NYSE:NVT)

Teza Capital Management LLC boosted its position in nVent Electric plc (NYSE:NVT - Free Report) by 190.9% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 25,600 shares of the company's stock after purchasing an additional 16,800 shares during the period. Teza Capital Management LLC's holdings in nVent Electric were worth $1,745,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Capital Research Global Investors bought a new stake in shares of nVent Electric in the fourth quarter valued at approximately $384,749,000. Norges Bank purchased a new stake in shares of nVent Electric during the 4th quarter valued at $197,434,000. William Blair Investment Management LLC raised its position in shares of nVent Electric by 8.8% during the 4th quarter. William Blair Investment Management LLC now owns 2,591,405 shares of the company's stock valued at $176,630,000 after buying an additional 210,690 shares in the last quarter. Millennium Management LLC grew its holdings in shares of nVent Electric by 743.7% during the 4th quarter. Millennium Management LLC now owns 2,215,624 shares of the company's stock valued at $151,017,000 after purchasing an additional 1,953,026 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in shares of nVent Electric by 15.0% during the 4th quarter. Invesco Ltd. now owns 1,723,868 shares of the company's stock valued at $117,499,000 after purchasing an additional 224,657 shares during the last quarter. 90.05% of the stock is owned by institutional investors.

Analysts Set New Price Targets

NVT has been the topic of several recent research reports. Citigroup reduced their target price 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. CL King raised shares of nVent Electric from a "neutral" rating to a "buy" rating and set a $70.00 target price on the stock in a report on Monday, March 17th. Royal Bank of Canada raised their price target on shares of nVent Electric from $73.00 to $75.00 and gave the stock an "outperform" rating in a report on Monday, May 5th. Seaport Res Ptn raised shares of nVent Electric from a "hold" rating to a "strong-buy" rating in a report on Friday, March 21st. Finally, KeyCorp raised 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. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, nVent Electric presently has an average rating of "Buy" and a consensus price target of $70.00.

Insider Activity at nVent Electric

In other news, EVP Lynnette R. Heath sold 4,041 shares of the business's stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $61.35, for a total transaction of $247,915.35. Following the completion of the transaction, the executive vice president now directly owns 32,665 shares of the company's stock, valued at $2,003,997.75. The trade was a 11.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.80% of the stock is currently owned by corporate insiders.

nVent Electric Price Performance

Shares of nVent Electric stock opened at $67.54 on Friday. The firm has a market cap of $11.12 billion, a PE ratio of 34.46, a price-to-earnings-growth ratio of 1.48 and a beta of 1.24. nVent Electric plc has a 12-month low of $41.71 and a 12-month high of $86.57. The company has a quick ratio of 1.28, a current ratio of 1.73 and a debt-to-equity ratio of 0.65. The company's fifty day simple moving average is $55.10 and its two-hundred day simple moving average is $64.64.

nVent Electric (NYSE:NVT - Get Free Report) last posted its earnings results on Friday, May 2nd. The company reported $0.67 EPS for the quarter, topping the consensus estimate 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 analysts' expectations of $790.74 million. During the same period last year, the company posted $0.78 EPS. The company's quarterly revenue was up 10.5% compared to the same quarter last year. As a group, equities analysts expect that nVent Electric plc will post 3.04 EPS for the current year.

nVent Electric Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Friday, July 18th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.18%. nVent Electric's dividend payout ratio (DPR) is currently 22.86%.

nVent Electric 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.

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