nVent Electric (NYSE:NVT – Get Free Report) issued its quarterly earnings data on Friday. The company reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.11, Briefing.com reports. nVent Electric had a net margin of 14.98% and a return on equity of 17.44%. The business had revenue of $859.00 million during the quarter, compared to analysts’ expectations of $881.99 million. During the same quarter in the previous year, the company earned $0.66 EPS. The business’s revenue was up 15.3% on a year-over-year basis. nVent Electric updated its Q4 guidance to $0.73-0.75 EPS.
nVent Electric Trading Down 2.0 %
Shares of nVent Electric stock opened at $45.88 on Monday. The firm has a market capitalization of $7.61 billion, a PE ratio of 16.39 and a beta of 1.32. The company has a current ratio of 1.97, a quick ratio of 1.27 and a debt-to-equity ratio of 0.62. The firm’s 50 day moving average is $53.14 and its 200 day moving average is $49.75. nVent Electric has a 1 year low of $35.40 and a 1 year high of $58.98.
nVent Electric Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, November 3rd. Stockholders of record on Friday, October 20th will be given a $0.175 dividend. This represents a $0.70 annualized dividend and a dividend yield of 1.53%. The ex-dividend date of this dividend is Thursday, October 19th. nVent Electric’s payout ratio is presently 25.00%.
Wall Street Analysts Forecast Growth
Insider Activity at nVent Electric
In related news, insider Joseph A. Ruzynski sold 4,711 shares of nVent Electric stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $54.66, for a total transaction of $257,503.26. Following the sale, the insider now directly owns 38,440 shares of the company’s stock, valued at approximately $2,101,130.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CAO Randolph A. Wacker sold 1,519 shares of nVent Electric stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $55.21, for a total transaction of $83,863.99. Following the sale, the chief accounting officer now directly owns 20,366 shares of the company’s stock, valued at approximately $1,124,406.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Joseph A. Ruzynski sold 4,711 shares of the business’s stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of $54.66, for a total transaction of $257,503.26. Following the sale, the insider now directly owns 38,440 shares in the company, valued at $2,101,130.40. The disclosure for this sale can be found here. 2.40% of the stock is currently owned by insiders.
Institutional Investors Weigh In On nVent Electric
A number of institutional investors have recently added to or reduced their stakes in NVT. Coppell Advisory Solutions LLC bought a new stake in nVent Electric during the 2nd quarter worth approximately $31,000. NewEdge Advisors LLC grew its holdings in nVent Electric by 10.8% during the 1st quarter. NewEdge Advisors LLC now owns 2,897 shares of the company’s stock worth $124,000 after acquiring an additional 283 shares during the last quarter. Johnson Financial Group Inc. bought a new stake in nVent Electric during the 1st quarter worth approximately $141,000. Captrust Financial Advisors grew its holdings in nVent Electric by 16.2% during the 2nd quarter. Captrust Financial Advisors now owns 5,375 shares of the company’s stock worth $168,000 after acquiring an additional 751 shares during the last quarter. Finally, Point72 Middle East FZE bought a new stake in nVent Electric during the 4th quarter worth approximately $182,000. 87.76% of the stock is owned by institutional investors.
nVent Electric Company Profile
nVent Electric plc designs, manufactures, markets, installs, and services electrical connection and protection products worldwide. The company operates through three segments: Enclosures, Electrical & Fastening Solutions, and Thermal Management. The Enclosures segment provides solutions to connect and protect critical electronics, communication, control, and power equipment; physical infrastructure solutions to host, connect, and protect server and network equipment; indoor and outdoor protection for test and measurement and aerospace and defense applications in industrial, infrastructure, commercial, and energy verticals; and metallic and non-metallic enclosures, cabinets, sub racks, and backplanes.
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