nVent Electric (NYSE:NVT) Releases Quarterly Earnings Results, Beats Estimates By $0.04 EPS

nVent Electric (NYSE:NVT) issued its quarterly earnings results on Friday. The company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.04, Briefing.com reports. The company 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%. nVent Electric’s revenue was up 18.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.67 earnings per share.

nVent Electric Price Performance

Shares of NYSE:NVT opened at $75.89 on Monday. nVent Electric has a 1-year low of $40.22 and a 1-year high of $78.98. The company has a current ratio of 1.99, a quick ratio of 1.35 and a debt-to-equity ratio of 0.54. The stock has a market cap of $12.59 billion, a PE ratio of 22.13, a price-to-earnings-growth ratio of 1.63 and a beta of 1.35. The stock’s fifty day simple moving average is $72.41 and its two-hundred day simple moving average is $61.98.

nVent Electric Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Friday, April 26th will be issued a $0.19 dividend. The ex-dividend date is Thursday, April 25th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.00%. nVent Electric’s dividend payout ratio is presently 22.16%.

Insider Buying and Selling at nVent Electric

In other news, CEO Beth Wozniak sold 198,211 shares of the firm’s 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 approximately $21,987.18. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other nVent Electric news, Director Jerry W. Burris sold 4,008 shares of the company’s stock in a transaction dated 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 $2,730,334.08. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Beth Wozniak sold 198,211 shares of nVent Electric stock in a transaction dated 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 transaction, the chief executive officer now owns 342 shares of the company’s stock, valued at approximately $21,987.18. The disclosure for this sale can be found here. In the last 90 days, insiders sold 400,252 shares of company stock worth $25,713,777. Insiders own 2.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on NVT. Royal Bank of Canada upped their price target on nVent Electric from $65.00 to $72.00 and gave the company an “outperform” rating in a research report on Wednesday, February 7th. The Goldman Sachs Group boosted their price target on shares of nVent Electric from $69.00 to $77.00 and gave the stock a “buy” rating in a research report on Friday, March 15th. Deutsche Bank Aktiengesellschaft started coverage on 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 lifted their target price on nVent Electric from $71.00 to $91.00 and gave the stock a “buy” rating in a report on Monday, April 8th. Finally, Barclays increased their price target on nVent Electric from $74.00 to $85.00 and gave the stock an “overweight” rating in a report on Tuesday, April 2nd. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $81.60.

About nVent Electric

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.