Seaport Res Ptn Weighs in on nVent Electric FY2024 Earnings

nVent Electric plc (NYSE:NVT - Free Report) - Seaport Res Ptn issued their FY2024 earnings per share (EPS) estimates for nVent Electric in a note issued to investors on Tuesday, November 5th. Seaport Res Ptn analyst S. Graham forecasts that the company will post earnings per share of $2.50 for the year. The consensus estimate for nVent Electric's current full-year earnings is $2.50 per share. Seaport Res Ptn also issued estimates for nVent Electric's Q4 2024 earnings at $0.60 EPS, Q1 2025 earnings at $0.69 EPS, Q2 2025 earnings at $0.78 EPS, Q3 2025 earnings at $0.75 EPS, Q4 2025 earnings at $0.69 EPS, FY2025 earnings at $2.91 EPS and FY2026 earnings at $3.22 EPS.

nVent Electric (NYSE:NVT - Get Free Report) last announced its quarterly earnings data on Tuesday, November 5th. The company reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.81 by ($0.18). The company had revenue of $782.00 million during the quarter, compared to analyst estimates of $937.37 million. nVent Electric had a return on equity of 15.66% and a net margin of 16.95%. The company's revenue was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.84 EPS.

A number of other equities research analysts also recently weighed in on the stock. KeyCorp lifted their price target on shares of nVent Electric from $80.00 to $84.00 and gave the stock an "overweight" rating in a research note on Monday, October 14th. Barclays cut their price objective on nVent Electric from $87.00 to $86.00 and set an "overweight" rating for the company in a report on Wednesday, October 2nd. Finally, Royal Bank of Canada cut their price objective on nVent Electric from $82.00 to $80.00 and set an "outperform" rating for the company in a report on Monday. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $85.33.

nVent Electric Stock Performance

NVT traded up $0.72 during trading on Thursday, reaching $77.79. 3,224,314 shares of the company's stock were exchanged, compared to its average volume of 1,583,623. nVent Electric has a fifty-two week low of $49.90 and a fifty-two week high of $86.57. The company has a quick ratio of 1.36, a current ratio of 1.83 and a debt-to-equity ratio of 0.68. The business has a 50 day moving average price of $69.83 and a 200 day moving average price of $73.12. The company has a market capitalization of $12.82 billion, a P/E ratio of 22.81, a PEG ratio of 1.83 and a beta of 1.26.

nVent Electric Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 18th were given a dividend of $0.19 per share. The ex-dividend date was Friday, October 18th. This represents a $0.76 annualized dividend and a dividend yield of 0.98%. nVent Electric's payout ratio is currently 22.29%.

Insider Transactions at nVent Electric

In other news, EVP Jon D. Lammers sold 67,297 shares of the business's stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $76.07, for a total transaction of $5,119,282.79. Following the completion of the transaction, the executive vice president now directly owns 58,121 shares in the company, valued at approximately $4,421,264.47. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Herbert K. Parker bought 7,566 shares of the business's stock in a transaction on Thursday, August 15th. The shares were purchased at an average price of $65.71 per share, for a total transaction of $497,161.86. Following the purchase, the director now owns 34,524 shares of the company's stock, valued at approximately $2,268,572.04. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Jon D. Lammers sold 67,297 shares of the company's stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $76.07, for a total value of $5,119,282.79. Following the sale, the executive vice president now owns 58,121 shares in the company, valued at approximately $4,421,264.47. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 95,323 shares of company stock worth $6,994,965. 2.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. ORG Partners LLC acquired a new position in nVent Electric in the 2nd quarter valued at $31,000. ORG Wealth Partners LLC acquired a new stake in shares of nVent Electric during the 3rd quarter worth $29,000. UMB Bank n.a. grew its holdings in shares of nVent Electric by 280.0% during the 3rd quarter. UMB Bank n.a. now owns 418 shares of the company's stock worth $29,000 after purchasing an additional 308 shares in the last quarter. First Foundation Advisors acquired a new stake in shares of nVent Electric during the 2nd quarter worth $34,000. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in shares of nVent Electric during the 2nd quarter worth $34,000. 90.05% of the stock is owned by institutional investors and hedge funds.

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.