nVent Electric plc (NYSE:NVT) Shares Sold by Texas Permanent School Fund Corp

Texas Permanent School Fund Corp cut its holdings in shares of nVent Electric plc (NYSE:NVT) by 2.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 145,868 shares of the company’s stock after selling 3,528 shares during the quarter. Texas Permanent School Fund Corp owned about 0.09% of nVent Electric worth $7,537,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. EverSource Wealth Advisors LLC boosted its position in nVent Electric by 850.8% during the first quarter. EverSource Wealth Advisors LLC now owns 599 shares of the company’s stock worth $26,000 after acquiring an additional 536 shares during the last quarter. Harbor Investment Advisory LLC acquired a new position in nVent Electric during the second quarter worth about $26,000. Altshuler Shaham Ltd acquired a new position in nVent Electric during the first quarter worth about $28,000. Arlington Partners LLC acquired a new position in nVent Electric during the second quarter worth about $29,000. Finally, BOKF NA purchased a new position in nVent Electric during the first quarter worth about $41,000. 87.76% of the stock is currently owned by institutional investors and hedge funds.

nVent Electric Trading Up 0.3 %

Shares of NVT stock opened at $49.95 on Wednesday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.27 and a current ratio of 1.97. The stock has a market capitalization of $8.29 billion, a P/E ratio of 17.84 and a beta of 1.33. The company has a 50 day moving average price of $52.69 and a 200 day moving average price of $50.00. nVent Electric plc has a fifty-two week low of $36.70 and a fifty-two week high of $58.98.

nVent Electric (NYSE:NVT) last posted its quarterly earnings results on Friday, October 27th. The company reported $0.84 EPS for the quarter, topping the consensus estimate of $0.73 by $0.11. nVent Electric had a net margin of 14.98% and a return on equity of 17.44%. The company had revenue of $859.00 million during the quarter, compared to analysts’ expectations of $881.99 million. During the same quarter in the previous year, the business posted $0.66 EPS. The firm’s revenue was up 15.3% on a year-over-year basis. Equities research analysts predict that nVent Electric plc will post 3.02 EPS for the current fiscal year.

nVent Electric Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 3rd. Shareholders of record on Friday, October 20th were issued a dividend of $0.175 per share. This represents a $0.70 annualized dividend and a yield of 1.40%. The ex-dividend date of this dividend was Thursday, October 19th. nVent Electric’s dividend payout ratio (DPR) is presently 25.00%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on NVT. Seaport Res Ptn reaffirmed a “neutral” rating on shares of nVent Electric in a research note on Monday, August 7th. Citigroup began coverage on shares of nVent Electric in a research note on Tuesday, October 3rd. They set a “buy” rating and a $62.00 target price on the stock. Royal Bank of Canada reduced their target price on shares of nVent Electric from $60.00 to $57.00 and set an “outperform” rating on the stock in a research note on Monday, October 30th. Barclays reduced their target price on shares of nVent Electric from $67.00 to $65.00 and set an “overweight” rating on the stock in a research note on Monday, October 30th. Finally, William Blair assumed coverage on shares of nVent Electric in a report on Thursday, July 27th. They issued an “outperform” rating for the company. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $60.50.

nVent Electric Company Profile

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.