New York State Teachers Retirement System Sells 25,000 Shares of nVent Electric plc (NYSE:NVT)

New York State Teachers Retirement System trimmed its position in shares of nVent Electric plc (NYSE:NVT) by 10.2% during the second quarter, Holdings Channel.com reports. The firm owned 220,741 shares of the company’s stock after selling 25,000 shares during the period. New York State Teachers Retirement System’s holdings in nVent Electric were worth $16,911,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of NVT. FinTrust Capital Advisors LLC lifted its stake in shares of nVent Electric by 17.5% in the fourth quarter. FinTrust Capital Advisors LLC now owns 1,056 shares of the company’s stock valued at $62,000 after buying an additional 157 shares in the last quarter. HMS Capital Management LLC lifted its position in nVent Electric by 3.2% in the 1st quarter. HMS Capital Management LLC now owns 5,837 shares of the company’s stock valued at $440,000 after acquiring an additional 183 shares in the last quarter. Private Advisor Group LLC boosted its stake in nVent Electric by 3.2% during the 4th quarter. Private Advisor Group LLC now owns 6,216 shares of the company’s stock valued at $367,000 after purchasing an additional 191 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in nVent Electric by 16.6% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,736 shares of the company’s stock worth $103,000 after purchasing an additional 247 shares in the last quarter. Finally, NorthRock Partners LLC raised its stake in shares of nVent Electric by 7.0% in the fourth quarter. NorthRock Partners LLC now owns 4,157 shares of the company’s stock worth $246,000 after purchasing an additional 271 shares during the last quarter. Institutional investors and hedge funds own 90.05% of the company’s stock.

Insiders Place Their Bets

In related news, Director Herbert K. Parker bought 7,566 shares of nVent Electric stock in a transaction dated Thursday, August 15th. The stock was purchased at an average cost of $65.71 per share, with a total value of $497,161.86. Following the transaction, the director now directly owns 34,524 shares of the company’s stock, valued at $2,268,572.04. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, EVP Lynnette R. Heath sold 8,242 shares of the business’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $60.26, for a total value of $496,662.92. Following the sale, the executive vice president now directly owns 30,432 shares in the company, valued at approximately $1,833,832.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Herbert K. Parker acquired 7,566 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were acquired at an average cost of $65.71 per share, for a total transaction of $497,161.86. Following the completion of the acquisition, the director now owns 34,524 shares of the company’s stock, valued at $2,268,572.04. The disclosure for this purchase can be found here. Insiders own 2.50% of the company’s stock.

nVent Electric Stock Performance

nVent Electric stock traded up $2.08 during mid-day trading on Friday, reaching $67.44. 928,438 shares of the company’s stock were exchanged, compared to its average volume of 1,514,795. The business’s fifty day simple moving average is $72.42 and its 200 day simple moving average is $73.20. The company has a quick ratio of 1.35, a current ratio of 1.99 and a debt-to-equity ratio of 0.54. nVent Electric plc has a one year low of $45.60 and a one year high of $86.57. The firm has a market capitalization of $11.20 billion, a PE ratio of 19.57, a P/E/G ratio of 1.52 and a beta of 1.31.

nVent Electric (NYSE:NVT) last released its earnings results on Tuesday, August 6th. The company reported $0.82 EPS for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.01). The business had revenue of $880.30 million for the quarter, compared to the consensus estimate of $892.89 million. nVent Electric had a return on equity of 17.47% and a net margin of 17.02%. The company’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.77 earnings per share. On average, sell-side analysts expect that nVent Electric plc will post 3.27 earnings per share for the current year.

Analysts Set New Price Targets

NVT has been the topic of several analyst reports. The Goldman Sachs Group lifted their target price on nVent Electric from $77.00 to $87.00 and gave the company a “buy” rating in a research report on Monday, May 6th. Barclays lifted their price objective on shares of nVent Electric from $85.00 to $95.00 and gave the stock an “overweight” rating in a report on Tuesday, June 4th. Citigroup increased their target price on shares of nVent Electric from $91.00 to $92.00 and gave the company a “buy” rating in a report on Monday, May 6th. Finally, Royal Bank of Canada dropped their price target on shares of nVent Electric from $88.00 to $82.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 7th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $87.80.

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.