nVent Electric PLC (NYSE:NVT) – Stock analysts at KeyCorp dropped their FY2019 earnings per share estimates for shares of nVent Electric in a research note issued on Monday, January 21st. KeyCorp analyst J. Hammond now forecasts that the company will earn $1.90 per share for the year, down from their previous estimate of $1.95.
nVent Electric (NYSE:NVT) last posted its quarterly earnings results on Thursday, October 25th. The company reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.07). The firm had revenue of $563.90 million for the quarter, compared to analyst estimates of $558.40 million.
NVT has been the subject of several other research reports. Zacks Investment Research cut shares of nVent Electric from a “hold” rating to a “sell” rating in a research note on Wednesday, December 12th. Goldman Sachs Group raised shares of nVent Electric from a “neutral” rating to a “buy” rating and dropped their price target for the company from $31.00 to $30.00 in a research note on Friday, October 26th. Finally, Vertical Research began coverage on shares of nVent Electric in a research note on Tuesday, November 20th. They issued a “hold” rating and a $28.00 price target for the company. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company’s stock. nVent Electric currently has a consensus rating of “Buy” and a consensus price target of $28.50.
nVent Electric stock opened at $24.43 on Wednesday. nVent Electric has a 1-year low of $19.71 and a 1-year high of $29.84. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.41 and a current ratio of 1.96.
Several hedge funds have recently modified their holdings of NVT. American Century Companies Inc. lifted its holdings in shares of nVent Electric by 5,608.2% in the 3rd quarter. American Century Companies Inc. now owns 2,593,075 shares of the company’s stock worth $70,428,000 after acquiring an additional 2,547,648 shares during the last quarter. Bank of New York Mellon Corp acquired a new position in shares of nVent Electric in the 2nd quarter worth approximately $41,515,000. Northern Trust Corp acquired a new position in shares of nVent Electric in the 2nd quarter worth approximately $35,137,000. Bank of America Corp DE acquired a new position in shares of nVent Electric in the 2nd quarter worth approximately $30,151,000. Finally, AQR Capital Management LLC lifted its holdings in shares of nVent Electric by 289.1% in the 3rd quarter. AQR Capital Management LLC now owns 1,283,522 shares of the company’s stock worth $34,861,000 after acquiring an additional 953,685 shares during the last quarter. Hedge funds and other institutional investors own 85.18% of the company’s stock.
In other news, Director Randall J. Hogan sold 21,082 shares of the company’s stock in a transaction that occurred on Monday, November 5th. The shares were sold at an average price of $25.35, for a total value of $534,428.70. The sale was disclosed in a document filed with the SEC, which is available through this link.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 8th. Stockholders of record on Friday, January 25th will be issued a $0.175 dividend. The ex-dividend date is Thursday, January 24th. This represents a $0.70 annualized dividend and a dividend yield of 2.87%.
About nVent Electric
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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