Retirement Systems of Alabama Sells 74,294 Shares of nVent Electric PLC (NVT)

Retirement Systems of Alabama decreased its stake in shares of nVent Electric PLC (NYSE:NVT) by 15.1% in the third quarter, Holdings Channel reports. The institutional investor owned 417,265 shares of the company’s stock after selling 74,294 shares during the quarter. Retirement Systems of Alabama’s holdings in nVent Electric were worth $11,333,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in NVT. State of Alaska Department of Revenue purchased a new position in nVent Electric during the second quarter valued at $457,000. Addison Capital Co bought a new stake in shares of nVent Electric in the 2nd quarter worth $255,000. Kohmann Bosshard Financial Services LLC bought a new stake in shares of nVent Electric in the 2nd quarter worth $113,000. Gateway Investment Advisers LLC bought a new stake in shares of nVent Electric in the 2nd quarter worth $1,965,000. Finally, Manning & Napier Group LLC bought a new stake in shares of nVent Electric in the 2nd quarter worth $446,000. Institutional investors and hedge funds own 81.49% of the company’s stock.

nVent Electric stock opened at $24.42 on Thursday. nVent Electric PLC has a 12 month low of $21.00 and a 12 month high of $29.84. The company has a quick ratio of 1.41, a current ratio of 1.96 and a debt-to-equity ratio of 0.34.

nVent Electric (NYSE:NVT) last posted its earnings results on Thursday, October 25th. The company reported $0.39 EPS for the quarter, missing the Zacks’ consensus estimate of $0.46 by ($0.07). The business had revenue of $563.90 million during the quarter, compared to analyst estimates of $558.40 million. Sell-side analysts predict that nVent Electric PLC will post 1.75 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 2nd. Investors of record on Friday, October 19th will be issued a $0.175 dividend. This represents a $0.70 annualized dividend and a dividend yield of 2.87%. The ex-dividend date is Thursday, October 18th.

In related news, Director William T. Monahan sold 17,133 shares of nVent Electric stock in a transaction on Wednesday, September 5th. The stock was sold at an average price of $28.08, for a total value of $481,094.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

A number of analysts have commented on the company. Barclays reissued a “hold” rating and issued a $25.00 target price on shares of nVent Electric in a report on Friday, July 27th. Zacks Investment Research lowered nVent Electric from a “hold” rating to a “sell” rating in a report on Tuesday. Finally, Goldman Sachs Group raised nVent Electric from a “neutral” rating to a “buy” rating and reduced their target price for the stock from $31.00 to $30.00 in a report on Friday, October 26th. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $28.60.

nVent Electric Profile

nVent Electric plc designs, manufactures, markets, installs, and services electrical connection and protection products and solutions in the United States, Canada, and internationally. The company operates through three segments: Enclosures, Thermal Management, and Electrical & Fastening Solutions.

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Institutional Ownership by Quarter for nVent Electric (NYSE:NVT)

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