nVent Electric (NVT) to Release Earnings on Friday

nVent Electric (NYSE:NVT) is set to announce its earnings results before the market opens on Friday, May 3rd. Analysts expect the company to announce earnings of $0.73 per share for the quarter. Investors interested in listening to the company’s conference call can do so using this link.

nVent Electric (NYSE:NVT) last announced its quarterly earnings data on Tuesday, February 6th. The company reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.03. The business had revenue of $861.20 million for the quarter, compared to analysts’ expectations of $866.90 million. nVent Electric had a net margin of 17.38% and a return on equity of 17.53%. The business’s revenue was up 16.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.66 earnings per share. On average, analysts expect nVent Electric to post $3 EPS for the current fiscal year and $4 EPS for the next fiscal year.

nVent Electric Price Performance

Shares of NVT opened at $74.45 on Friday. The stock has a market cap of $12.36 billion, a PE ratio of 22.09, a price-to-earnings-growth ratio of 1.56 and a beta of 1.35. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.22 and a current ratio of 1.82. nVent Electric has a fifty-two week low of $40.19 and a fifty-two week high of $78.98. The firm’s 50-day simple moving average is $71.27 and its two-hundred day simple moving average is $60.95.

nVent Electric Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Friday, April 26th will be issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 1.02%. The ex-dividend date is Thursday, April 25th. nVent Electric’s dividend payout ratio (DPR) is presently 22.55%.

Insider Activity

In other news, Director Randall J. Hogan sold 184,572 shares of the stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $64.03, for a total transaction of $11,818,145.16. Following the sale, the director now owns 8,277 shares in the company, valued at $529,976.31. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, insider Michael B. Faulconer sold 10,961 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $67.33, for a total value of $738,004.13. Following the sale, the insider now owns 33,109 shares in the company, valued at $2,229,228.97. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Randall J. Hogan sold 184,572 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the director now owns 8,277 shares in the company, valued at approximately $529,976.31. The disclosure for this sale can be found here. Insiders have sold a total of 400,252 shares of company stock worth $25,713,777 over the last 90 days. 2.50% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

NVT has been the topic of a number of recent research reports. Citigroup upped their price objective on shares of nVent Electric from $71.00 to $91.00 and gave the stock a “buy” rating in a report on Monday, April 8th. Barclays upped their price objective on shares of nVent Electric from $74.00 to $85.00 and gave the stock an “overweight” rating in a report on Tuesday, April 2nd. The Goldman Sachs Group upped their price objective on shares of nVent Electric from $69.00 to $77.00 and gave the stock a “buy” rating in a report on Friday, March 15th. Royal Bank of Canada upped their price objective on shares of nVent Electric from $65.00 to $72.00 and gave the stock an “outperform” rating in a report on Wednesday, February 7th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of nVent Electric in a report on Monday, March 11th. They set a “buy” rating and a $83.00 price target on the stock. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, nVent Electric presently has a consensus rating of “Moderate Buy” and an average price target of $81.60.

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.