Texas Permanent School Fund Corp Purchases 1,880 Shares of nVent Electric plc (NYSE:NVT)

Texas Permanent School Fund Corp boosted its position in shares of nVent Electric plc (NYSE:NVT) by 1.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 145,204 shares of the company’s stock after purchasing an additional 1,880 shares during the period. Texas Permanent School Fund Corp’s holdings in nVent Electric were worth $10,948,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Commerce Bank increased its holdings in nVent Electric by 3.6% during the 1st quarter. Commerce Bank now owns 1,019,795 shares of the company’s stock worth $76,893,000 after purchasing an additional 35,302 shares in the last quarter. Jennison Associates LLC bought a new position in shares of nVent Electric in the 1st quarter valued at about $22,784,000. Haverford Trust Co grew its holdings in shares of nVent Electric by 2.2% in the 1st quarter. Haverford Trust Co now owns 549,354 shares of the company’s stock valued at $41,421,000 after acquiring an additional 12,019 shares in the last quarter. Quent Capital LLC grew its holdings in shares of nVent Electric by 142.5% in the 1st quarter. Quent Capital LLC now owns 1,028 shares of the company’s stock valued at $78,000 after acquiring an additional 604 shares in the last quarter. Finally, Thompson Davis & CO. Inc. bought a new position in shares of nVent Electric in the 1st quarter valued at about $411,000. Institutional investors own 90.05% of the company’s stock.

nVent Electric Stock Performance

NYSE:NVT traded up $0.75 during mid-day trading on Friday, hitting $79.50. The stock had a trading volume of 94,617 shares, compared to its average volume of 1,374,790. nVent Electric plc has a twelve month low of $45.60 and a twelve month high of $86.57. The stock has a market cap of $13.20 billion, a price-to-earnings ratio of 22.95, a PEG ratio of 1.71 and a beta of 1.31. The company’s 50 day simple moving average is $79.37 and its 200 day simple moving average 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.

nVent Electric (NYSE:NVT) last issued its earnings results on Friday, May 3rd. The company reported $0.77 earnings per share (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 the consensus estimate of $864.14 million. During the same period last year, the business posted $0.67 EPS. nVent Electric’s revenue was up 18.0% on a year-over-year basis. On average, equities research analysts forecast that nVent Electric plc will post 3.27 earnings per share for the current year.

nVent Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 2nd. Shareholders of record on Friday, July 19th will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Friday, July 19th. This represents a $0.76 annualized dividend and a yield of 0.96%. nVent Electric’s dividend payout ratio (DPR) is presently 22.16%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on NVT shares. Royal Bank of Canada decreased their price objective on nVent Electric from $89.00 to $88.00 and set an “outperform” rating for the company in a report on Monday, May 6th. Citigroup raised their price objective on nVent Electric from $91.00 to $92.00 and gave the company a “buy” rating in a report on Monday, May 6th. Barclays raised their price objective on nVent Electric from $85.00 to $95.00 and gave the company an “overweight” rating in a report on Tuesday, June 4th. Finally, The Goldman Sachs Group raised their price objective on nVent Electric from $77.00 to $87.00 and gave the company a “buy” rating in a report on Monday, May 6th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, nVent Electric currently 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.