Putnam Investments LLC Takes Position in nVent Electric PLC (NVT)
Putnam Investments LLC acquired a new position in shares of nVent Electric PLC (NYSE:NVT) during the second quarter, HoldingsChannel reports. The institutional investor acquired 161,632 shares of the company’s stock, valued at approximately $4,057,000.
A number of other hedge funds have also made changes to their positions in the stock. First Bank & Trust acquired a new stake in nVent Electric in the second quarter valued at $105,000. Kohmann Bosshard Financial Services LLC acquired a new stake in nVent Electric in the second quarter valued at $113,000. Moneta Group Investment Advisors LLC acquired a new stake in nVent Electric in the second quarter valued at $133,000. Glen Harbor Capital Management LLC acquired a new stake in nVent Electric in the second quarter valued at $134,000. Finally, Riverhead Capital Management LLC acquired a new stake in nVent Electric in the second quarter valued at $152,000. 81.64% of the stock is currently owned by hedge funds and other institutional investors.
NVT opened at $29.37 on Tuesday. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.12 and a quick ratio of 1.53. nVent Electric PLC has a 52 week low of $21.00 and a 52 week high of $29.84.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 2nd. Investors of record on Friday, October 19th will be paid a dividend of $0.175 per share. This represents a $0.70 dividend on an annualized basis and a dividend yield of 2.38%. The ex-dividend date of this dividend is Thursday, October 18th.
Separately, Barclays reissued a “hold” rating and issued a $25.00 target price on shares of nVent Electric in a report on Friday, July 27th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. nVent Electric presently has a consensus rating of “Buy” and a consensus price target of $28.25.
In related news, Director William T. Monahan sold 17,133 shares of the stock in a transaction 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 document filed with the SEC, which is available at this hyperlink.
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.
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