Q2 2024 EPS Estimates for nVent Electric plc (NYSE:NVT) Reduced by Seaport Res Ptn

nVent Electric plc (NYSE:NVTFree Report) – Research analysts at Seaport Res Ptn reduced their Q2 2024 EPS estimates for nVent Electric in a research note issued to investors on Wednesday, February 7th. Seaport Res Ptn analyst S. Graham now expects that the company will post earnings of $0.81 per share for the quarter, down from their prior estimate of $0.83. The consensus estimate for nVent Electric’s current full-year earnings is $3.26 per share. Seaport Res Ptn also issued estimates for nVent Electric’s Q3 2024 earnings at $0.87 EPS, FY2024 earnings at $3.22 EPS, Q1 2025 earnings at $0.80 EPS, Q2 2025 earnings at $0.89 EPS, Q3 2025 earnings at $0.96 EPS, Q4 2025 earnings at $0.92 EPS and FY2025 earnings at $3.58 EPS.

Other analysts have also issued research reports about the stock. Royal Bank of Canada raised their price target on shares of nVent Electric from $65.00 to $72.00 and gave the company an “outperform” rating in a report on Wednesday. Citigroup boosted their target price on nVent Electric from $59.00 to $64.00 and gave the stock a “buy” rating in a research report on Monday, December 11th. Finally, Barclays cut their target price on shares of nVent Electric from $67.00 to $65.00 and set an “overweight” rating on the stock in a research report on Monday, October 30th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, nVent Electric currently has a consensus rating of “Moderate Buy” and an average target price of $64.75.

Read Our Latest Research Report on NVT

nVent Electric Stock Performance

Shares of NYSE:NVT opened at $64.29 on Friday. The stock has a market capitalization of $10.67 billion, a price-to-earnings ratio of 19.08 and a beta of 1.33. The business’s fifty day moving average price is $58.13 and its two-hundred day moving average price is $54.70. nVent Electric has a fifty-two week low of $40.00 and a fifty-two week high of $66.09. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.82 and a quick ratio of 1.27.

nVent Electric (NYSE:NVTGet Free Report) last released its quarterly earnings data on Tuesday, February 6th. The company reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.03. nVent Electric had a return on equity of 17.53% and a net margin of 17.38%. The company had revenue of $861.20 million for the quarter, compared to the consensus estimate of $866.90 million. During the same period in the previous year, the business earned $0.66 earnings per share. The company’s quarterly revenue was up 16.1% on a year-over-year basis.

nVent Electric Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 2nd. Stockholders of record on Friday, January 19th were given a dividend of $0.19 per share. This is a boost from nVent Electric’s previous quarterly dividend of $0.18. This represents a $0.76 annualized dividend and a dividend yield of 1.18%. The ex-dividend date was Thursday, January 18th. nVent Electric’s dividend payout ratio is currently 22.55%.

Insider Buying and Selling

In other nVent Electric news, insider Joseph A. Ruzynski sold 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $64.23, for a total transaction of $160,575.00. Following the completion of the transaction, the insider now owns 36,013 shares of the company’s stock, valued at approximately $2,313,114.99. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other nVent Electric news, insider Joseph A. Ruzynski sold 2,500 shares of the business’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $64.23, for a total transaction of $160,575.00. Following the sale, the insider now directly owns 36,013 shares of the company’s stock, valued at approximately $2,313,114.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Michael B. Faulconer sold 2,080 shares of the stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $53.07, for a total transaction of $110,385.60. Following the transaction, the insider now owns 27,613 shares of the company’s stock, valued at $1,465,421.91. The disclosure for this sale can be found here. 2.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Swiss National Bank grew its stake in shares of nVent Electric by 0.3% in the second quarter. Swiss National Bank now owns 360,687 shares of the company’s stock valued at $18,637,000 after buying an additional 1,200 shares in the last quarter. Janney Montgomery Scott LLC grew its position in shares of nVent Electric by 7.7% in the 2nd quarter. Janney Montgomery Scott LLC now owns 9,089 shares of the company’s stock valued at $470,000 after acquiring an additional 646 shares during the period. Creative Planning increased its stake in shares of nVent Electric by 7.6% during the 2nd quarter. Creative Planning now owns 13,845 shares of the company’s stock worth $715,000 after purchasing an additional 983 shares during the last quarter. US Bancorp DE raised its holdings in shares of nVent Electric by 12.0% in the 3rd quarter. US Bancorp DE now owns 216,527 shares of the company’s stock valued at $11,474,000 after purchasing an additional 23,128 shares during the period. Finally, MGO One Seven LLC acquired a new stake in nVent Electric in the 3rd quarter valued at about $503,000. 87.76% of the stock is currently owned by institutional investors.

About nVent Electric

(Get Free Report)

nVent Electric plc designs, manufactures, markets, installs, and services electrical connection and protection products worldwide. The company operates through three segments: Enclosures, Electrical & Fastening Solutions, and Thermal Management. The Enclosures segment provides solutions to connect and protect critical electronics, communication, control, and power equipment; physical infrastructure solutions to host, connect, and protect server and network equipment; indoor and outdoor protection for test and measurement and aerospace and defense applications in industrial, infrastructure, commercial, and energy verticals; and metallic and non-metallic enclosures, cabinets, sub racks, and backplanes.

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Earnings History and Estimates for nVent Electric (NYSE:NVT)

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