Texas Permanent School Fund Sells 1,974 Shares of nVent Electric PLC (NYSE:NVT)

Texas Permanent School Fund trimmed its holdings in shares of nVent Electric PLC (NYSE:NVT) by 1.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 105,897 shares of the company’s stock after selling 1,974 shares during the period. Texas Permanent School Fund owned about 0.06% of nVent Electric worth $2,334,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Tokio Marine Asset Management Co. Ltd. raised its stake in shares of nVent Electric by 4.0% during the 2nd quarter. Tokio Marine Asset Management Co. Ltd. now owns 15,700 shares of the company’s stock worth $389,000 after purchasing an additional 600 shares during the period. Commonwealth Equity Services LLC raised its stake in shares of nVent Electric by 2.1% during the 3rd quarter. Commonwealth Equity Services LLC now owns 31,456 shares of the company’s stock worth $693,000 after purchasing an additional 648 shares during the period. D.A. Davidson & CO. raised its stake in shares of nVent Electric by 5.1% during the 2nd quarter. D.A. Davidson & CO. now owns 15,230 shares of the company’s stock worth $378,000 after purchasing an additional 735 shares during the period. Captrust Financial Advisors raised its stake in shares of nVent Electric by 19.7% during the 2nd quarter. Captrust Financial Advisors now owns 5,183 shares of the company’s stock worth $128,000 after purchasing an additional 853 shares during the period. Finally, Oregon Public Employees Retirement Fund raised its stake in shares of nVent Electric by 1.4% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 65,794 shares of the company’s stock worth $1,631,000 after purchasing an additional 922 shares during the period. Institutional investors own 85.72% of the company’s stock.

In other news, Director Randall J. Hogan sold 204,605 shares of the company’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $23.97, for a total transaction of $4,904,381.85. Insiders own 1.60% of the company’s stock.

A number of equities research analysts have recently commented on the company. Rosenblatt Securities assumed coverage on nVent Electric in a research note on Thursday. They set a “buy” rating and a $28.00 target price on the stock. ValuEngine cut nVent Electric from a “sell” rating to a “strong sell” rating in a research note on Friday, November 1st. Vertical Research cut nVent Electric from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Zacks Investment Research cut nVent Electric from a “hold” rating to a “sell” rating in a research note on Saturday, August 3rd. Finally, Royal Bank of Canada cut nVent Electric from an “outperform” rating to a “sector perform” rating and lowered their price objective for the company from $30.00 to $24.00 in a research note on Tuesday, October 1st. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company. nVent Electric presently has a consensus rating of “Hold” and an average target price of $26.25.

Shares of nVent Electric stock opened at $23.93 on Friday. nVent Electric PLC has a 52-week low of $19.04 and a 52-week high of $28.49. The stock’s 50-day simple moving average is $21.51 and its 200 day simple moving average is $23.19. The stock has a market capitalization of $4.05 billion, a P/E ratio of 13.75 and a beta of 1.68. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.25 and a current ratio of 1.84.

nVent Electric (NYSE:NVT) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.47 by $0.02. nVent Electric had a return on equity of 11.85% and a net margin of 11.07%. The business had revenue of $559.80 million for the quarter, compared to analysts’ expectations of $554.44 million. During the same period in the previous year, the business posted $0.46 EPS. The firm’s quarterly revenue was down .7% compared to the same quarter last year. Equities research analysts forecast that nVent Electric PLC will post 1.75 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 18th were paid a $0.175 dividend. This represents a $0.70 dividend on an annualized basis and a yield of 2.93%. The ex-dividend date was Thursday, October 17th. nVent Electric’s dividend payout ratio is currently 40.23%.

About nVent Electric

nVent Electric plc designs, manufactures, markets, installs, and services electrical connection and protection products in the United States, Canada, Mexico, Europe, the Middle East, Africa, 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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