William Blair Analysts Lower Earnings Estimates for nVent Electric plc (NYSE:NVT)

nVent Electric plc (NYSE:NVTFree Report) – Research analysts at William Blair dropped their FY2024 earnings per share estimates for nVent Electric in a report issued on Wednesday, February 7th. William Blair analyst B. Drab now anticipates that the company will post earnings per share of $3.21 for the year, down from their prior estimate of $3.28. The consensus estimate for nVent Electric’s current full-year earnings is $3.22 per share.

NVT has been the topic of a number of other research reports. Citigroup increased their target price on shares of nVent Electric from $59.00 to $64.00 and gave the stock a “buy” rating in a research report on Monday, December 11th. Barclays reduced their price target on nVent Electric from $67.00 to $65.00 and set an “overweight” rating on the stock in a research report on Monday, October 30th. Finally, Royal Bank of Canada lifted their price objective on nVent Electric from $65.00 to $72.00 and gave the company an “outperform” rating in a report on Wednesday, February 7th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $64.75.

Read Our Latest Analysis on NVT

nVent Electric Trading Down 0.4 %

NVT stock opened at $63.80 on Monday. nVent Electric has a 52 week low of $40.00 and a 52 week high of $66.09. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.22 and a current ratio of 1.82. The company’s 50-day simple moving average is $58.51 and its 200 day simple moving average is $54.89. The company has a market capitalization of $10.59 billion, a PE ratio of 18.93 and a beta of 1.33.

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

nVent Electric Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 2nd. Investors of record on Friday, January 19th were paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 1.19%. This is a boost from nVent Electric’s previous quarterly dividend of $0.18. The ex-dividend date was Thursday, January 18th. nVent Electric’s dividend payout ratio (DPR) is 22.55%.

Insider Buying and Selling at nVent Electric

In other news, CEO Beth Wozniak sold 198,211 shares of the business’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 transaction, the chief executive officer now owns 342 shares of the company’s stock, valued at approximately $21,987.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Michael B. Faulconer sold 2,080 shares of the business’s stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $53.07, for a total transaction of $110,385.60. Following the sale, the insider now owns 27,613 shares in the company, valued at approximately $1,465,421.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Beth Wozniak sold 198,211 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $64.29, for a total value of $12,742,985.19. Following the completion of the transaction, the chief executive officer now directly owns 342 shares of the company’s stock, valued at approximately $21,987.18. The disclosure for this sale can be found here. Insiders sold a total of 387,363 shares of company stock worth $24,832,091 over the last three months. Corporate insiders own 2.40% of the company’s stock.

Institutional Investors Weigh In On nVent Electric

Institutional investors have recently made changes to their positions in the stock. Raymond James Financial Services Advisors Inc. boosted its position in shares of nVent Electric by 9.2% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 10,999 shares of the company’s stock valued at $383,000 after purchasing an additional 923 shares in the last quarter. AlphaCrest Capital Management LLC lifted its holdings in shares of nVent Electric by 36.8% in the 1st quarter. AlphaCrest Capital Management LLC now owns 11,498 shares of the company’s stock worth $400,000 after purchasing an additional 3,093 shares in the last quarter. Natixis Advisors L.P. grew its position in nVent Electric by 15.4% in the 1st quarter. Natixis Advisors L.P. now owns 43,511 shares of the company’s stock valued at $1,514,000 after purchasing an additional 5,807 shares during the period. Bank of Montreal Can increased its stake in nVent Electric by 10.6% during the 1st quarter. Bank of Montreal Can now owns 21,601 shares of the company’s stock valued at $768,000 after purchasing an additional 2,072 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in nVent Electric by 10.5% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 61,657 shares of the company’s stock worth $2,144,000 after buying an additional 5,879 shares during the last quarter. Institutional investors own 87.76% of the company’s stock.

nVent Electric Company Profile

(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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