Texas Permanent School Fund reduced its position in shares of nVent Electric PLC (NYSE:NVT) by 2.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 102,513 shares of the company’s stock after selling 2,274 shares during the period. Texas Permanent School Fund’s holdings in nVent Electric were worth $2,784,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in the business. First Bank & Trust acquired a new stake in shares of nVent Electric in the second quarter worth approximately $105,000. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of nVent Electric in the second quarter worth approximately $113,000. TRUE Private Wealth Advisors acquired a new stake in shares of nVent Electric in the third quarter worth approximately $114,000. Moneta Group Investment Advisors LLC acquired a new stake in shares of nVent Electric in the second quarter worth approximately $133,000. Finally, Glen Harbor Capital Management LLC acquired a new stake in shares of nVent Electric in the second quarter worth approximately $134,000. 81.49% of the stock is currently owned by institutional investors.
In related news, Director William T. Monahan sold 17,133 shares of the firm’s stock in a transaction that occurred on Wednesday, September 5th. The shares were sold at an average price of $28.08, for a total value of $481,094.64. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.
nVent Electric (NYSE:NVT) last released its earnings results on Thursday, October 25th. The company reported $0.39 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.46 by ($0.07). The company had revenue of $563.90 million for the quarter, compared to analyst estimates of $558.40 million. On average, equities research analysts anticipate that nVent Electric PLC will post 1.75 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, November 2nd. Investors of record on Friday, October 19th were given a $0.175 dividend. The ex-dividend date was Thursday, October 18th. This represents a $0.70 annualized dividend and a dividend yield of 2.75%.
Several research firms recently issued reports on NVT. Barclays reissued a “hold” rating and issued a $25.00 target price on shares of nVent Electric in a research report on Friday, July 27th. Zacks Investment Research cut shares of nVent Electric from a “hold” rating to a “sell” rating in a research report on Tuesday. Finally, Goldman Sachs Group raised shares of nVent Electric from a “neutral” rating to a “buy” rating and decreased their target price for the stock from $31.00 to $30.00 in a research report on Friday, October 26th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $28.60.
nVent Electric 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.
See Also: Why do companies engage in swaps?
Want to see what other hedge funds are holding NVT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for nVent Electric PLC (NYSE:NVT).
Receive News & Ratings for nVent Electric Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for nVent Electric and related companies with MarketBeat.com's FREE daily email newsletter.