Public Employees Retirement System of Ohio Buys Shares of 98,203 nVent Electric plc (NYSE:NVT)

Public Employees Retirement System of Ohio purchased a new position in shares of nVent Electric plc (NYSE:NVT) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 98,203 shares of the company’s stock, valued at approximately $6,900,000. Public Employees Retirement System of Ohio owned approximately 0.06% of nVent Electric at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. State Street Corp grew its holdings in nVent Electric by 0.9% during the 3rd quarter. State Street Corp now owns 5,031,623 shares of the company’s stock worth $353,522,000 after acquiring an additional 42,465 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of nVent Electric by 16.0% during the second quarter. Massachusetts Financial Services Co. MA now owns 4,884,487 shares of the company’s stock worth $374,201,000 after purchasing an additional 673,990 shares during the last quarter. Janus Henderson Group PLC grew its stake in nVent Electric by 23.6% in the third quarter. Janus Henderson Group PLC now owns 2,441,154 shares of the company’s stock worth $171,492,000 after purchasing an additional 466,042 shares in the last quarter. Clean Energy Transition LLP raised its stake in nVent Electric by 56.5% during the third quarter. Clean Energy Transition LLP now owns 2,254,633 shares of the company’s stock valued at $158,411,000 after buying an additional 813,909 shares in the last quarter. Finally, Principal Financial Group Inc. raised its stake in nVent Electric by 1.7% during the third quarter. Principal Financial Group Inc. now owns 1,763,254 shares of the company’s stock valued at $123,891,000 after buying an additional 28,876 shares in the last quarter. Institutional investors own 90.05% of the company’s stock.

Insider Buying and Selling at nVent Electric

In related news, CAO Randolph A. Wacker sold 8,022 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $75.87, for a total value of $608,629.14. Following the completion of the transaction, the chief accounting officer now owns 25,993 shares in the company, valued at $1,972,088.91. This represents a 23.58 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Jon D. Lammers sold 67,297 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $76.07, for a total transaction of $5,119,282.79. Following the sale, the executive vice president now owns 58,121 shares in the company, valued at $4,421,264.47. This trade represents a 53.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 96,382 shares of company stock valued at $7,365,956 in the last quarter. Corporate insiders own 2.50% of the company’s stock.

nVent Electric Stock Performance

Shares of NVT opened at $74.97 on Friday. The firm has a fifty day moving average of $74.85 and a 200-day moving average of $72.85. The company has a market cap of $12.36 billion, a price-to-earnings ratio of 21.99, a price-to-earnings-growth ratio of 3.88 and a beta of 1.25. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.36 and a current ratio of 1.83. nVent Electric plc has a 1 year low of $55.19 and a 1 year high of $86.57.

nVent Electric (NYSE:NVT) last posted its earnings results on Tuesday, November 5th. The company reported $0.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.18). nVent Electric had a net margin of 16.95% and a return on equity of 15.66%. The firm had revenue of $782.00 million for the quarter, compared to analyst estimates of $937.37 million. During the same period in the previous year, the firm earned $0.84 earnings per share. The company’s revenue for the quarter was up 9.4% on a year-over-year basis. As a group, equities analysts anticipate that nVent Electric plc will post 2.5 earnings per share for the current year.

nVent Electric Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 18th were given a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 1.01%. The ex-dividend date was Friday, October 18th. nVent Electric’s dividend payout ratio is currently 22.29%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Royal Bank of Canada lowered their price target on nVent Electric from $82.00 to $80.00 and set an “outperform” rating for the company in a report on Monday, November 4th. KeyCorp lifted their price objective on shares of nVent Electric from $80.00 to $84.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Barclays increased their target price on shares of nVent Electric from $76.00 to $88.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. Finally, Citigroup lifted their price target on shares of nVent Electric from $78.00 to $91.00 and gave the company a “buy” rating in a report on Monday, December 9th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $85.50.

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.