News

Aug 14, 2023

Mutual of America Capital Management LLC Reduces Stock Position in nVent Electric plc (NYSE:NVT)

Mutual of America Capital Management LLC lessened its holdings in nVent Electric plc (NYSE:NVT - Free Report) by 2.1% during the 1st quarter, according to its most recent disclosure with the

Mutual of America Capital Management LLC lessened its holdings in nVent Electric plc (NYSE:NVT - Free Report) by 2.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 134,017 shares of the company's stock after selling 2,812 shares during the quarter. Mutual of America Capital Management LLC owned approximately 0.08% of nVent Electric worth $5,755,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Fifth Third Bancorp grew its holdings in shares of nVent Electric by 56.4% during the fourth quarter. Fifth Third Bancorp now owns 818 shares of the company's stock worth $31,000 after purchasing an additional 295 shares during the last quarter. Louisiana State Employees Retirement System boosted its stake in shares of nVent Electric by 0.7% during the fourth quarter. Louisiana State Employees Retirement System now owns 44,600 shares of the company's stock worth $1,716,000 after buying an additional 300 shares during the period. Thrivent Financial for Lutherans boosted its stake in shares of nVent Electric by 0.7% during the fourth quarter. Thrivent Financial for Lutherans now owns 44,372 shares of the company's stock worth $1,707,000 after buying an additional 308 shares during the period. State of Michigan Retirement System boosted its stake in shares of nVent Electric by 1.0% during the fourth quarter. State of Michigan Retirement System now owns 42,406 shares of the company's stock worth $1,631,000 after buying an additional 400 shares during the period. Finally, First Manhattan Co. boosted its stake in shares of nVent Electric by 0.3% during the first quarter. First Manhattan Co. now owns 127,346 shares of the company's stock worth $4,429,000 after buying an additional 400 shares during the period. Hedge funds and other institutional investors own 86.38% of the company's stock.

NVT has been the subject of a number of recent analyst reports. Royal Bank of Canada raised their price objective on shares of nVent Electric from $57.00 to $60.00 and gave the company an "outperform" rating in a research report on Monday. Barclays raised their price objective on shares of nVent Electric from $55.00 to $69.00 and gave the company an "overweight" rating in a research report on Monday. The Goldman Sachs Group raised their price objective on shares of nVent Electric from $55.00 to $58.00 in a research report on Tuesday, May 30th. Finally, William Blair started coverage on shares of nVent Electric in a research report on Thursday, July 27th. They issued an "outperform" rating for the company.

Get Our Latest Stock Analysis on nVent Electric

Shares of nVent Electric stock opened at $56.15 on Thursday. nVent Electric plc has a 12-month low of $30.48 and a 12-month high of $56.34. The company has a current ratio of 2.09, a quick ratio of 1.32 and a debt-to-equity ratio of 0.67. The stock has a market cap of $9.31 billion, a PE ratio of 20.64 and a beta of 1.33. The company has a 50-day moving average of $49.87 and a two-hundred day moving average of $45.11.

nVent Electric (NYSE:NVT - Get Free Report) last issued its earnings results on Friday, July 28th. The company reported $0.77 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.68 by $0.09. nVent Electric had a net margin of 15.14% and a return on equity of 16.85%. The company had revenue of $803.00 million during the quarter, compared to analysts' expectations of $809.05 million. During the same period last year, the company posted $0.57 earnings per share. The firm's quarterly revenue was up 10.3% compared to the same quarter last year. On average, research analysts anticipate that nVent Electric plc will post 2.91 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 4th. Stockholders of record on Friday, July 21st will be paid a dividend of $0.175 per share. The ex-dividend date of this dividend is Thursday, July 20th. This represents a $0.70 dividend on an annualized basis and a dividend yield of 1.25%. nVent Electric's dividend payout ratio (DPR) is 25.74%.

In other news, CEO Beth Wozniak sold 10,028 shares of the firm's stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $46.00, for a total transaction of $461,288.00. Following the completion of the transaction, the chief executive officer now directly owns 82,478 shares of the company's stock, valued at approximately $3,793,988. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other nVent Electric news, EVP Lynnette R. Heath sold 5,890 shares of nVent Electric stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $46.00, for a total value of $270,940.00. Following the completion of the sale, the executive vice president now directly owns 28,529 shares of the company's stock, valued at approximately $1,312,334. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Beth Wozniak sold 10,028 shares of nVent Electric stock in a transaction that occurred on Friday, June 2nd. The stock was sold at an average price of $46.00, for a total transaction of $461,288.00. Following the completion of the sale, the chief executive officer now directly owns 82,478 shares of the company's stock, valued at $3,793,988. The disclosure for this sale can be found here. Insiders sold a total of 27,293 shares of company stock valued at $1,247,474 in the last ninety days. Corporate insiders own 2.40% of the company's stock.

nVent Electric plc designs, manufactures, markets, installs, and services electrical connection and protection products worldwide. The company operates through three segments: Enclosures, Electrical & Fastening Solutions, and Thermal Management. The Enclosures segment provides solutions to connect and protect critical electronics, communication, control, and power equipment; physical infrastructure solutions to host, connect, and protect server and network equipment; indoor and outdoor protection for test and measurement and aerospace and defense applications in industrial, infrastructure, commercial, and energy verticals; and metallic and non-metallic enclosures, cabinets, sub racks, and backplanes.

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