South Dakota Investment Council Takes $2.66 Million Position in nVent Electric plc (NYSE:NVT)

South Dakota Investment Council bought a new position in shares of nVent Electric plc (NYSE:NVT - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 44,944 shares of the company's stock, valued at approximately $2,656,000.

Several other institutional investors have also recently bought and sold shares of the business. State of Michigan Retirement System grew its holdings in shares of 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 purchasing an additional 200 shares during the last quarter. Quent Capital LLC grew its holdings in shares of nVent Electric by 123.2% during the fourth quarter. Quent Capital LLC now owns 424 shares of the company's stock worth $25,000 after purchasing an additional 234 shares during the last quarter. Pinnacle Associates Ltd. grew its holdings in shares of nVent Electric by 5.8% during the fourth quarter. Pinnacle Associates Ltd. now owns 4,281 shares of the company's stock worth $253,000 after purchasing an additional 236 shares during the last quarter. Cookson Peirce & Co. Inc. grew its holdings in shares of nVent Electric by 4.1% during the third quarter. Cookson Peirce & Co. Inc. now owns 7,012 shares of the company's stock worth $372,000 after purchasing an additional 277 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. boosted its holdings in nVent Electric by 3.6% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 8,917 shares of the company's stock valued at $472,000 after acquiring an additional 307 shares during the last quarter. Institutional investors and hedge funds own 90.05% of the company's stock.

Analysts Set New Price Targets

Several analysts recently commented on the company. Deutsche Bank Aktiengesellschaft assumed coverage on nVent Electric in a report on Monday, March 11th. They issued a "buy" rating and a $83.00 target price on the stock. Royal Bank of Canada upped their target price on nVent Electric from $65.00 to $72.00 and gave the company an "outperform" rating in a report on Wednesday, February 7th. Citigroup upped their target price on nVent Electric from $71.00 to $91.00 and gave the company a "buy" rating in a report on Monday, April 8th. Barclays upped their target price on nVent Electric from $74.00 to $85.00 and gave the company an "overweight" rating in a report on Tuesday, April 2nd. Finally, The Goldman Sachs Group upped their target price on nVent Electric from $69.00 to $77.00 and gave the company a "buy" rating in a report on Friday, March 15th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $81.60.

Insider Transactions at nVent Electric

In other news, Director Jerry W. Burris sold 4,008 shares of the company's stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $63.39, for a total transaction of $254,067.12. Following the transaction, the director now directly owns 43,072 shares of the company's stock, valued at $2,730,334.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Jerry W. Burris sold 4,008 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $63.39, for a total value of $254,067.12. Following the completion of the sale, the director now directly owns 43,072 shares of the company's stock, valued at approximately $2,730,334.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Beth Wozniak sold 198,211 shares of the 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 sale, the chief executive officer now directly owns 342 shares of the company's stock, valued at $21,987.18. The disclosure for this sale can be found here. Insiders have sold 400,252 shares of company stock valued at $25,713,777 over the last ninety days. 2.50% of the stock is owned by company insiders.

nVent Electric Trading Up 1.0 %

NVT traded up $0.73 during trading on Thursday, hitting $74.45. The company's stock had a trading volume of 1,618,221 shares, compared to its average volume of 1,265,670. nVent Electric plc has a twelve month low of $40.19 and a twelve month high of $78.98. The company has a quick ratio of 1.22, a current ratio of 1.82 and a debt-to-equity ratio of 0.56. The stock's fifty day moving average price is $71.04 and its 200-day moving average price is $60.86. The firm has a market capitalization of $12.36 billion, a P/E ratio of 21.75, a PEG ratio of 1.56 and a beta of 1.35.

nVent Electric (NYSE:NVT - Get Free Report) last issued its earnings results 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. nVent Electric had a return on equity of 17.53% and a net margin of 17.38%. The company had revenue of $861.20 million for the quarter, compared to analyst estimates of $866.90 million. During the same period in the prior year, the firm earned $0.66 earnings per share. nVent Electric's revenue for the quarter was up 16.1% on a year-over-year basis. Analysts anticipate 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. Stockholders of record on Friday, April 26th will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date of this dividend is Thursday, April 25th. nVent Electric's payout ratio is 22.55%.

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.