Teacher Retirement System of Texas Sells 26,933 Shares of nVent Electric plc (NYSE:NVT)

Teacher Retirement System of Texas lowered its stake in nVent Electric plc (NYSE:NVT - Free Report) by 36.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 46,261 shares of the company's stock after selling 26,933 shares during the quarter. Teacher Retirement System of Texas' holdings in nVent Electric were worth $2,734,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Private Advisor Group LLC boosted its position in shares of nVent Electric by 3.2% during the fourth quarter. Private Advisor Group LLC now owns 6,216 shares of the company's stock worth $367,000 after purchasing an additional 191 shares in the last quarter. State of Michigan Retirement System lifted its holdings 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 acquiring an additional 200 shares in the last quarter. Quent Capital LLC grew its stake in nVent Electric by 123.2% in the fourth quarter. Quent Capital LLC now owns 424 shares of the company's stock valued at $25,000 after acquiring an additional 234 shares during the period. Pinnacle Associates Ltd. grew 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 period. Finally, Cookson Peirce & Co. Inc. raised its position 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 period. 90.05% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, insider Michael B. Faulconer sold 10,961 shares of nVent Electric stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $67.33, for a total value of $738,004.13. Following the completion of the transaction, the insider now owns 33,109 shares of the company's stock, valued at approximately $2,229,228.97. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, insider Michael B. Faulconer sold 10,961 shares of nVent Electric stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $67.33, for a total transaction of $738,004.13. Following the completion of the transaction, the insider now owns 33,109 shares in the company, valued at $2,229,228.97. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jerry W. Burris sold 4,008 shares of the business'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 value of $254,067.12. Following the transaction, the director now directly owns 43,072 shares in the company, valued at approximately $2,730,334.08. The disclosure for this sale can be found here. Insiders own 2.50% of the company's stock.

Analyst Ratings Changes

Several brokerages recently issued reports on NVT. Royal Bank of Canada decreased their price objective on nVent Electric from $89.00 to $88.00 and set an "outperform" rating for the company in a research report on Monday, May 6th. Citigroup raised their price objective on shares of nVent Electric from $91.00 to $92.00 and gave the stock a "buy" rating in a report on Monday, May 6th. Deutsche Bank Aktiengesellschaft started coverage on shares of nVent Electric in a research note on Monday, March 11th. They issued a "buy" rating and a $83.00 target price for the company. The Goldman Sachs Group lifted their price target on nVent Electric from $77.00 to $87.00 and gave the company a "buy" rating in a research note on Monday, May 6th. Finally, Barclays upped their price objective on nVent Electric from $74.00 to $85.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 2nd. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, nVent Electric has a consensus rating of "Moderate Buy" and a consensus price target of $87.00.

nVent Electric Stock Down 4.4 %

NVT stock traded down $3.70 during midday trading on Thursday, hitting $80.41. The company's stock had a trading volume of 1,645,120 shares, compared to its average volume of 1,360,839. The company's fifty day moving average price is $74.46 and its 200 day moving average price is $63.74. nVent Electric plc has a twelve month low of $40.44 and a twelve month high of $84.36. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.99 and a quick ratio of 1.35. The stock has a market capitalization of $13.35 billion, a P/E ratio of 23.44, a PEG ratio of 1.80 and a beta of 1.35.

nVent Electric (NYSE:NVT - Get Free Report) last released its earnings results on Friday, May 3rd. The company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.04. The business had revenue of $874.60 million for the quarter, compared to analyst estimates of $864.14 million. nVent Electric had a return on equity of 17.47% and a net margin of 17.02%. nVent Electric's revenue was up 18.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.67 earnings per share. As a group, equities research analysts predict that nVent Electric plc will post 3.26 EPS for the current year.

nVent Electric Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 10th. Investors of record on Friday, April 26th were issued a dividend of $0.19 per share. The ex-dividend date of this dividend was Thursday, April 25th. This represents a $0.76 dividend on an annualized basis and a yield of 0.95%. nVent Electric's payout ratio is 22.16%.

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.