Putnam Investments LLC Takes Position in nVent Electric PLC (NVT)

Putnam Investments LLC acquired a new stake in nVent Electric PLC (NYSE:NVT) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 161,632 shares of the company’s stock, valued at approximately $4,057,000. Putnam Investments LLC owned about 0.09% of nVent Electric at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NVT. BlackRock Inc. purchased a new stake in shares of nVent Electric during the second quarter worth approximately $408,834,000. Iridian Asset Management LLC CT purchased a new stake in shares of nVent Electric during the second quarter worth approximately $162,582,000. Sound Shore Management Inc. CT purchased a new stake in shares of nVent Electric during the second quarter worth approximately $117,987,000. FMR LLC purchased a new stake in shares of nVent Electric during the second quarter worth approximately $59,492,000. Finally, Dimensional Fund Advisors LP purchased a new stake in shares of nVent Electric during the second quarter worth approximately $59,477,000. Institutional investors own 81.64% of the company’s stock.

In other news, Director William T. Monahan sold 17,133 shares of the company’s stock in a transaction that occurred on Wednesday, September 5th. The stock was sold at an average price of $28.08, for a total transaction of $481,094.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Separately, Barclays restated a “hold” rating and set a $25.00 price target on shares of nVent Electric in a research note on Friday, July 27th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $28.25.

nVent Electric stock opened at $29.37 on Tuesday. nVent Electric PLC has a 12 month low of $21.00 and a 12 month high of $29.84. The company has a current ratio of 2.12, a quick ratio of 1.53 and a debt-to-equity ratio of 0.36.

nVent Electric (NYSE:NVT) last released its quarterly earnings results on Thursday, July 26th. The company reported $0.44 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.42 by $0.02. The company had revenue of $542.70 million for the quarter, compared to analysts’ expectations of $542.50 million. The business’s revenue was up 5.7% compared to the same quarter last year. analysts expect that nVent Electric PLC will post 1.76 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, November 2nd. Stockholders of record on Friday, October 19th will be paid a dividend of $0.175 per share. This represents a $0.70 annualized dividend and a dividend yield of 2.38%. The ex-dividend date of this dividend is Thursday, October 18th.

nVent Electric Company Profile

nVent Electric plc designs, manufactures, markets, installs, and services electrical connection and protection products and solutions in the United States, Canada, 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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