Q2 2024 EPS Estimates for nVent Electric plc (NYSE:NVT) Decreased by Analyst

nVent Electric plc (NYSE:NVT) – Equities research analysts at William Blair cut their Q2 2024 EPS estimates for shares of nVent Electric in a research report issued to clients and investors on Monday, May 6th. William Blair analyst B. Drab now forecasts that the company will post earnings per share of $0.82 for the quarter, down from their prior estimate of $0.83. 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 FY2025 earnings at $3.51 EPS.

nVent Electric (NYSE:NVT) last released its quarterly earnings results on Friday, May 3rd. The company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.04. nVent Electric had a net margin of 17.02% and a return on equity of 17.47%. The firm had revenue of $874.60 million for the quarter, compared to analysts’ expectations of $864.14 million. During the same quarter last year, the company earned $0.67 EPS. The firm’s revenue for the quarter was up 18.0% compared to the same quarter last year.

Other equities research analysts have also issued research reports about the stock. Royal Bank of Canada dropped their target price on shares of nVent Electric from $89.00 to $88.00 and set an “outperform” rating for the company in a report on Monday. Barclays upped their price objective on shares of nVent Electric from $74.00 to $85.00 and gave the company an “overweight” rating in a research note on Tuesday, April 2nd. Deutsche Bank Aktiengesellschaft began coverage on nVent Electric in a research note on Monday, March 11th. They issued a “buy” rating and a $83.00 target price for the company. The Goldman Sachs Group raised their price target on shares of nVent Electric from $77.00 to $87.00 and gave the stock a “buy” rating in a report on Monday. Finally, Citigroup upped their price target on nVent Electric from $91.00 to $92.00 and gave the company a “buy” rating in a research note on Monday. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, nVent Electric has a consensus rating of “Moderate Buy” and an average price target of $87.00.

nVent Electric Stock Performance

Shares of NYSE:NVT opened at $77.59 on Tuesday. The business’s 50 day moving average price is $72.84 and its 200-day moving average price is $62.39. nVent Electric has a 1 year low of $40.22 and a 1 year high of $78.98. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.99 and a quick ratio of 1.35. The firm has a market capitalization of $12.88 billion, a PE ratio of 22.62, a P/E/G ratio of 1.63 and a beta of 1.35.

nVent Electric Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Friday, April 26th will be given 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 0.98%. nVent Electric’s dividend payout ratio (DPR) is presently 22.16%.

Insider Buying and Selling

In related 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 completion of the sale, the insider now owns 33,109 shares in the company, valued at approximately $2,229,228.97. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, insider Michael B. Faulconer sold 10,961 shares of the business’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $67.33, for a total value of $738,004.13. Following the transaction, the insider now owns 33,109 shares in the company, valued at approximately $2,229,228.97. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jerry W. Burris sold 4,008 shares of the firm’s 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 completion of the sale, the director now owns 43,072 shares of the company’s stock, valued at approximately $2,730,334.08. The disclosure for this sale can be found here. Insiders have sold 397,752 shares of company stock worth $25,553,202 in the last quarter. 2.50% of the stock is owned by insiders.

Institutional Investors Weigh In On nVent Electric

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