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

Texas Permanent School Fund Corp increased its position in shares of nVent Electric plc (NYSE:NVT) by 1.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 145,204 shares of the company’s stock after acquiring an additional 1,880 shares during the quarter. Texas Permanent School Fund Corp owned approximately 0.09% of nVent Electric worth $10,948,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Banque Cantonale Vaudoise purchased a new position in nVent Electric during the first quarter worth approximately $26,000. Quent Capital LLC raised its stake in nVent Electric by 123.2% during the fourth quarter. Quent Capital LLC now owns 424 shares of the company’s stock worth $25,000 after purchasing an additional 234 shares during the period. Rise Advisors LLC purchased a new position in nVent Electric during the first quarter worth approximately $32,000. Livelsberger Financial Advisory purchased a new position in nVent Electric during the fourth quarter worth approximately $28,000. Finally, Smithfield Trust Co raised its stake in nVent Electric by 650.0% during the fourth quarter. Smithfield Trust Co now owns 630 shares of the company’s stock worth $36,000 after purchasing an additional 546 shares during the period. Institutional investors and hedge funds own 90.05% of the company’s stock.

nVent Electric Stock Performance

Shares of NYSE NVT traded up $0.75 during midday trading on Friday, hitting $79.50. The company’s stock had a trading volume of 94,617 shares, compared to its average volume of 1,374,790. nVent Electric plc has a 1-year low of $45.60 and a 1-year high of $86.57. The firm’s fifty day moving average price is $79.37 and its 200-day moving average price is $70.93. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.35 and a current ratio of 1.99. The firm has a market cap of $13.20 billion, a P/E ratio of 22.95, a P/E/G ratio of 1.71 and a beta of 1.31.

nVent Electric (NYSE:NVT) last posted its quarterly earnings results on Friday, May 3rd. The company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.73 by $0.04. nVent Electric had a net margin of 17.02% and a return on equity of 17.47%. The business had revenue of $874.60 million during the quarter, compared to analyst estimates of $864.14 million. During the same period in the previous year, the business posted $0.67 EPS. The company’s quarterly revenue was up 18.0% on a year-over-year basis. On average, sell-side analysts forecast that nVent Electric plc will post 3.27 EPS for the current fiscal year.

nVent Electric Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 2nd. Shareholders of record on Friday, July 19th will be paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date is Friday, July 19th. nVent Electric’s payout ratio is 22.16%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on NVT shares. Citigroup raised their target price on shares of nVent Electric from $91.00 to $92.00 and gave the company a “buy” rating in a research note on Monday, May 6th. Royal Bank of Canada cut their target price on shares of nVent Electric from $89.00 to $88.00 and set an “outperform” rating on the stock in a research note on Monday, May 6th. Barclays raised their target price on shares of nVent Electric from $85.00 to $95.00 and gave the company an “overweight” rating in a research note on Tuesday, June 4th. Finally, The Goldman Sachs Group raised their target price on shares of nVent Electric from $77.00 to $87.00 and gave the company a “buy” rating in a research note on Monday, May 6th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $89.00.

About nVent Electric

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.