Louisiana State Employees Retirement System Takes $2.75 Million Position in nVent Electric plc (NYSE:NVT)

Louisiana State Employees Retirement System bought a new stake in shares of nVent Electric plc (NYSE:NVT - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 46,600 shares of the company's stock, valued at approximately $2,754,000.

Other institutional investors have also recently modified their holdings of the company. State of Michigan Retirement System grew its stake in nVent Electric by 0.5% during the fourth quarter. State of Michigan Retirement System now owns 39,806 shares of the company's stock worth $2,352,000 after buying an additional 200 shares in the last quarter. Quent Capital LLC boosted its position in shares of nVent Electric by 123.2% during the 4th quarter. Quent Capital LLC now owns 424 shares of the company's stock worth $25,000 after acquiring an additional 234 shares in the last quarter. Pinnacle Associates Ltd. increased its stake in nVent Electric by 5.8% in the fourth quarter. Pinnacle Associates Ltd. now owns 4,281 shares of the company's stock valued at $253,000 after acquiring an additional 236 shares during the last quarter. Cookson Peirce & Co. Inc. raised its position in nVent Electric by 4.1% during the third quarter. Cookson Peirce & Co. Inc. now owns 7,012 shares of the company's stock valued at $372,000 after purchasing an additional 277 shares in the last quarter. Finally, NewEdge Advisors LLC lifted its stake in nVent Electric by 10.8% during the first quarter. NewEdge Advisors LLC now owns 2,897 shares of the company's stock worth $124,000 after purchasing an additional 283 shares during the last quarter. 90.05% of the stock is currently owned by institutional investors.

nVent Electric Price Performance

NYSE NVT traded down $1.08 on Tuesday, hitting $73.15. The stock had a trading volume of 1,333,396 shares, compared to its average volume of 1,229,501. nVent Electric plc has a 52-week low of $40.19 and a 52-week high of $78.98. The firm has a 50-day moving average of $69.79 and a 200-day moving average of $59.93. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.22 and a current ratio of 1.82. The company has a market capitalization of $12.14 billion, a price-to-earnings ratio of 22.02, a price-to-earnings-growth ratio of 1.59 and a beta of 1.35.

nVent Electric (NYSE:NVT - Get Free Report) last announced its quarterly earnings data on Tuesday, February 6th. The company reported $0.78 earnings per share for the quarter, topping analysts' consensus estimates of $0.75 by $0.03. The firm had revenue of $861.20 million during the quarter, compared to analyst estimates of $866.90 million. nVent Electric had a net margin of 17.38% and a return on equity of 17.53%. The business's quarterly revenue was up 16.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.66 EPS. Equities analysts expect that nVent Electric plc will post 3.24 EPS for the current year.

nVent Electric Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Friday, April 26th will be paid a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 1.04%. The ex-dividend date is Thursday, April 25th. nVent Electric's payout ratio is 22.55%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Citigroup lifted their price target on nVent Electric from $71.00 to $91.00 and gave the company a "buy" rating in a research note on Monday, April 8th. Royal Bank of Canada increased their price objective on shares of nVent Electric from $65.00 to $72.00 and gave the company an "outperform" rating in a research note on Wednesday, February 7th. The Goldman Sachs Group lifted their price target on nVent Electric from $69.00 to $77.00 and gave the company a "buy" rating in a research note on Friday, March 15th. Deutsche Bank Aktiengesellschaft began coverage on nVent Electric in a research report on Monday, March 11th. They set a "buy" rating and a $83.00 target price for the company. Finally, Barclays raised their price target on shares of nVent Electric from $74.00 to $85.00 and gave the stock an "overweight" rating in a report on Tuesday, April 2nd. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $81.60.

Insider Buying and Selling at nVent Electric

In related news, CEO Beth Wozniak sold 198,211 shares of the business's stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $64.29, for a total transaction of $12,742,985.19. Following the transaction, the chief executive officer now owns 342 shares in the company, valued at approximately $21,987.18. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other nVent Electric news, CEO Beth Wozniak sold 198,211 shares of the company's stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $64.29, for a total value of $12,742,985.19. Following the completion of the transaction, the chief executive officer now directly owns 342 shares in the company, valued at approximately $21,987.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Randall J. Hogan sold 184,572 shares of the stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $64.03, for a total value of $11,818,145.16. Following the completion of the transaction, the director now directly owns 8,277 shares of the company's stock, valued at approximately $529,976.31. The disclosure for this sale can be found here. Insiders sold 400,252 shares of company stock valued at $25,713,777 in the last quarter. Company insiders own 2.50% of the company's stock.

nVent Electric Company 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.