nVent Electric plc Forecasted to Earn Q3 2024 Earnings of $0.86 Per Share (NYSE:NVT)

nVent Electric plc (NYSE:NVT) – Research analysts at William Blair decreased their Q3 2024 earnings per share estimates for nVent Electric in a research report issued on Monday, May 6th. William Blair analyst B. Drab now anticipates that the company will earn $0.86 per share for the quarter, down from their prior estimate of $0.87. The consensus estimate for nVent Electric’s current full-year earnings is $3.25 per share. William Blair also issued estimates for nVent Electric’s Q4 2024 earnings at $0.80 EPS and FY2024 earnings at $3.25 EPS.

nVent Electric (NYSE:NVT) last announced its quarterly earnings data 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 return on equity of 17.47% and a net margin of 17.02%. The business had revenue of $874.60 million during the quarter, compared to analysts’ expectations of $864.14 million. During the same quarter last year, the business posted $0.67 EPS. The business’s quarterly revenue was up 18.0% compared to the same quarter last year.

A number of other research analysts also recently commented on the company. Citigroup increased their price objective on nVent Electric from $91.00 to $92.00 and gave the company a “buy” rating in a report on Monday. Deutsche Bank Aktiengesellschaft began coverage on shares of nVent Electric in a report on Monday, March 11th. They issued a “buy” rating and a $83.00 target price for the company. The Goldman Sachs Group increased their target price on shares of nVent Electric from $77.00 to $87.00 and gave the company a “buy” rating in a research report on Monday. Barclays boosted their price target on shares of nVent Electric from $74.00 to $85.00 and gave the company an “overweight” rating in a research report on Tuesday, April 2nd. Finally, Royal Bank of Canada dropped their price objective on nVent Electric from $89.00 to $88.00 and set an “outperform” rating on the stock in a report on Monday. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $87.00.

nVent Electric Stock Performance

Shares of NVT stock opened at $77.59 on Wednesday. The company has a market cap of $12.88 billion, a P/E ratio of 22.62, a PEG ratio of 1.63 and a beta of 1.35. The firm has a fifty day moving average price of $72.84 and a 200 day moving average price of $62.39. The company has a current ratio of 1.99, a quick ratio of 1.35 and a debt-to-equity ratio of 0.54. nVent Electric has a 12 month low of $40.22 and a 12 month high of $78.98.

nVent Electric Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Friday, April 26th will be paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date of this dividend is Thursday, April 25th. nVent Electric’s dividend payout ratio is currently 22.16%.

Insiders Place Their Bets

In other news, CEO Beth Wozniak sold 198,211 shares of the stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $64.29, for a total transaction of $12,742,985.19. Following the completion of the sale, the chief executive officer now owns 342 shares in the company, valued at $21,987.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Beth Wozniak sold 198,211 shares of the stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $64.29, for a total transaction of $12,742,985.19. Following the completion of the sale, the chief executive officer now directly owns 342 shares of the company’s stock, valued at $21,987.18. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Randall J. Hogan sold 184,572 shares of the company’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $64.03, for a total transaction of $11,818,145.16. Following the transaction, the director now owns 8,277 shares of the company’s stock, valued at approximately $529,976.31. The disclosure for this sale can be found here. In the last three months, insiders have sold 397,752 shares of company stock valued at $25,553,202. Insiders own 2.50% of the company’s stock.

Institutional Trading of nVent Electric

Institutional investors have recently modified their holdings of the business. Commonwealth Equity Services LLC grew its position in nVent Electric by 9.3% during the third quarter. Commonwealth Equity Services LLC now owns 15,565 shares of the company’s stock worth $825,000 after buying an additional 1,325 shares during the period. Cambridge Investment Research Advisors Inc. increased its stake in nVent Electric by 3.6% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 8,917 shares of the company’s stock valued at $472,000 after purchasing an additional 307 shares in the last quarter. Robeco Institutional Asset Management B.V. purchased a new stake in nVent Electric during the third quarter worth $153,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in nVent Electric by 9.7% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 32,585 shares of the company’s stock worth $1,727,000 after purchasing an additional 2,879 shares in the last quarter. Finally, Baystate Wealth Management LLC acquired a new stake in nVent Electric in the third quarter valued at $33,000. 90.05% of the stock is currently owned by hedge funds and other institutional investors.

nVent Electric Company Profile

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.