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

nVent Electric plc (NYSE:NVT) – Investment analysts at William Blair decreased their Q3 2024 earnings per share (EPS) estimates for shares of nVent Electric in a report issued on Monday, May 6th. William Blair analyst B. Drab now expects that the company will post earnings per share of $0.86 for the quarter, down from their previous forecast 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 earnings results on Friday, May 3rd. The company reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.73 by $0.04. The firm had revenue of $874.60 million for the quarter, compared to analyst estimates of $864.14 million. nVent Electric had a net margin of 17.02% and a return on equity of 17.47%. The business’s revenue was up 18.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.67 EPS.

Several other equities analysts have also commented on the stock. Barclays raised their target price on shares of nVent Electric from $74.00 to $85.00 and gave the company an “overweight” rating in a report on Tuesday, April 2nd. Deutsche Bank Aktiengesellschaft began coverage on shares of nVent Electric in a research note on Monday, March 11th. They issued a “buy” rating and a $83.00 price objective on the stock. Citigroup boosted their price objective on shares of nVent Electric from $91.00 to $92.00 and gave the company a “buy” rating in a research report on Monday. Royal Bank of Canada reduced their target price on nVent Electric from $89.00 to $88.00 and set an “outperform” rating on the stock in a report on Monday. Finally, The Goldman Sachs Group boosted their price target on nVent Electric from $77.00 to $87.00 and gave the stock a “buy” rating 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 stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $87.00.

nVent Electric Stock Up 3.0 %

NVT stock opened at $79.92 on Wednesday. nVent Electric has a 52 week low of $40.22 and a 52 week high of $80.03. The business has a 50-day simple moving average of $73.12 and a 200 day simple moving average of $62.51. The company has a quick ratio of 1.35, a current ratio of 1.99 and a debt-to-equity ratio of 0.54. The company has a market cap of $13.26 billion, a PE ratio of 23.30, a price-to-earnings-growth ratio of 1.63 and a beta of 1.35.

nVent Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Friday, April 26th will be paid a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 0.95%. The ex-dividend date is Thursday, April 25th. nVent Electric’s dividend payout ratio is currently 22.16%.

Insider Activity at nVent Electric

In other nVent Electric news, Director Jerry W. Burris sold 4,008 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $63.39, for a total transaction of $254,067.12. Following the sale, the director now directly owns 43,072 shares of the company’s stock, valued at approximately $2,730,334.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Michael B. Faulconer sold 10,961 shares of the company’s stock in a transaction 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 directly owns 33,109 shares of the company’s stock, valued at approximately $2,229,228.97. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Jerry W. Burris sold 4,008 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $63.39, for a total transaction of $254,067.12. Following the sale, the director now owns 43,072 shares of the company’s stock, valued at $2,730,334.08. The disclosure for this sale can be found here. Insiders sold a total of 199,541 shares of company stock worth $12,810,216 in the last quarter. 2.50% of the stock is owned by insiders.

Institutional Trading of nVent Electric

A number of institutional investors have recently bought and sold shares of the company. Banque Cantonale Vaudoise bought a new position in shares of nVent Electric in the 1st quarter worth about $26,000. Quent Capital LLC grew its stake in nVent Electric by 123.2% during the fourth quarter. Quent Capital LLC now owns 424 shares of the company’s stock worth $25,000 after purchasing an additional 234 shares during the period. Rise Advisors LLC bought a new stake in nVent Electric in the first quarter worth approximately $32,000. Livelsberger Financial Advisory acquired a new position in nVent Electric in the fourth quarter valued at approximately $28,000. Finally, HM Payson & Co. acquired a new position in nVent Electric in the third quarter valued at approximately $26,000. Institutional investors own 90.05% of the company’s stock.

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.