nVent Electric plc (NYSE:NVT) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund cut its position in nVent Electric plc (NYSE:NVT - Free Report) by 3.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 306,795 shares of the company's stock after selling 12,523 shares during the period. New York State Common Retirement Fund owned about 0.18% of nVent Electric worth $18,129,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in NVT. Sequoia Financial Advisors LLC bought a new position in nVent Electric in the fourth quarter valued at $2,492,000. Citigroup Inc. grew its position in nVent Electric by 73.9% in the third quarter. Citigroup Inc. now owns 71,372 shares of the company's stock valued at $3,782,000 after purchasing an additional 30,325 shares in the last quarter. Mariner LLC grew its position in shares of nVent Electric by 10.1% in the 3rd quarter. Mariner LLC now owns 24,649 shares of the company's stock valued at $1,306,000 after acquiring an additional 2,263 shares during the period. LPL Financial LLC grew its position in shares of nVent Electric by 2.0% in the 3rd quarter. LPL Financial LLC now owns 172,171 shares of the company's stock valued at $9,123,000 after acquiring an additional 3,418 shares during the period. Finally, Vontobel Holding Ltd. grew its position in shares of nVent Electric by 217.5% in the 4th quarter. Vontobel Holding Ltd. now owns 25,874 shares of the company's stock valued at $1,529,000 after acquiring an additional 17,724 shares during the period. Institutional investors own 90.05% of the company's stock.

Insider Buying and Selling

In related news, Director Jerry W. Burris sold 4,008 shares of the firm's stock in a transaction dated Friday, February 16th. The shares were 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Joseph A. Ruzynski sold 2,500 shares of the firm's stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $64.23, for a total transaction of $160,575.00. Following the transaction, the insider now directly owns 36,013 shares of the company's stock, valued at $2,313,114.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jerry W. Burris sold 4,008 shares of the firm's stock in a transaction dated Friday, February 16th. The shares were 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 in the company, valued at $2,730,334.08. The disclosure for this sale can be found here. Insiders have sold a total of 400,252 shares of company stock valued at $25,713,777 over the last ninety days. 2.50% of the stock is owned by corporate insiders.

nVent Electric Trading Down 0.6 %

Shares of NVT traded down $0.42 during trading hours on Monday, hitting $75.27. 1,004,996 shares of the stock were exchanged, compared to its average volume of 1,260,296. nVent Electric plc has a fifty-two week low of $40.22 and a fifty-two week high of $78.98. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.82 and a quick ratio of 1.22. The business has a 50-day moving average of $71.51 and a 200-day moving average of $61.21. The firm has a market capitalization of $12.49 billion, a P/E ratio of 22.28, a price-to-earnings-growth ratio of 1.63 and a beta of 1.35.

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

nVent Electric Dividend Announcement

The business 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 dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 1.01%. The ex-dividend date is Thursday, April 25th. nVent Electric's dividend payout ratio is presently 22.55%.

Wall Street Analyst Weigh In

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

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.