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

nVent Electric plc (NYSE:NVT) – Research analysts at William Blair dropped their Q2 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 earn $0.82 per share for the quarter, down from their previous forecast 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 posted its quarterly earnings data on Friday, May 3rd. The company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.73 by $0.04. The firm had revenue of $874.60 million for the quarter, compared to the consensus estimate of $864.14 million. nVent Electric had a return on equity of 17.47% and a net margin of 17.02%. The business’s revenue for the quarter was up 18.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.67 earnings per share.

A number of other analysts have also recently issued reports on the stock. Citigroup increased their price objective on shares of nVent Electric from $91.00 to $92.00 and gave the stock a “buy” rating in a research note on Monday. The Goldman Sachs Group boosted their price objective on nVent Electric from $77.00 to $87.00 and gave the company a “buy” rating in a research report on Monday. Deutsche Bank Aktiengesellschaft began coverage on nVent Electric in a research report on Monday, March 11th. They set a “buy” rating and a $83.00 target price for the company. Royal Bank of Canada lowered their price target on nVent Electric from $89.00 to $88.00 and set an “outperform” rating on the stock in a report on Monday. Finally, Barclays increased their price objective 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. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $87.00.

nVent Electric Price Performance

NYSE NVT opened at $79.92 on Tuesday. The company has a current ratio of 1.99, a quick ratio of 1.35 and a debt-to-equity ratio of 0.54. nVent Electric has a 12 month low of $40.22 and a 12 month high of $80.03. The stock has a market cap of $13.26 billion, a price-to-earnings ratio of 23.30, a PEG ratio of 1.63 and a beta of 1.35. The company’s 50 day moving average is $73.12 and its two-hundred day moving average is $62.51.

nVent Electric Announces Dividend

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

Insider Activity at nVent Electric

In other news, insider Michael B. Faulconer sold 10,961 shares of the business’s stock in a transaction dated 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 in the company, valued at approximately $2,229,228.97. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, insider Michael B. Faulconer sold 10,961 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The stock was 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 directly owns 33,109 shares of the company’s stock, valued at approximately $2,229,228.97. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Randall J. Hogan sold 184,572 shares of nVent Electric stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $64.03, for a total value of $11,818,145.16. Following the completion of the transaction, the director now owns 8,277 shares of the company’s stock, valued at approximately $529,976.31. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 199,541 shares of company stock valued at $12,810,216. 2.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Quent Capital LLC grew its holdings in nVent Electric by 123.2% during the 4th quarter. Quent Capital LLC now owns 424 shares of the company’s stock valued at $25,000 after purchasing an additional 234 shares during the last quarter. HM Payson & Co. purchased a new stake in shares of nVent Electric in the third quarter worth approximately $26,000. Banque Cantonale Vaudoise bought a new stake in shares of nVent Electric during the 1st quarter worth approximately $26,000. Livelsberger Financial Advisory bought a new stake in shares of nVent Electric during the 4th quarter worth approximately $28,000. Finally, Pacific Center for Financial Services purchased a new position in nVent Electric during the 3rd quarter valued at $32,000. Institutional investors own 90.05% of the company’s stock.

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.