Seaport Res Ptn Comments on nVent Electric plc’s Q2 2024 Earnings (NYSE:NVT)

nVent Electric plc (NYSE:NVT) – Analysts at Seaport Res Ptn boosted their Q2 2024 earnings estimates for shares of nVent Electric in a report issued on Monday, May 6th. Seaport Res Ptn analyst S. Graham now expects that the company will earn $0.83 per share for the quarter, up from their previous estimate of $0.81. The consensus estimate for nVent Electric’s current full-year earnings is $3.25 per share. Seaport Res Ptn also issued estimates for nVent Electric’s FY2024 earnings at $3.29 EPS, Q1 2025 earnings at $0.91 EPS, Q2 2025 earnings at $0.95 EPS, Q3 2025 earnings at $0.95 EPS, Q4 2025 earnings at $0.90 EPS and FY2025 earnings at $3.60 EPS.

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

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

nVent Electric Trading Up 1.6 %

NYSE NVT opened at $77.59 on Wednesday. The company has a quick ratio of 1.35, a current ratio of 1.99 and a debt-to-equity ratio of 0.54. The stock has a market capitalization of $12.88 billion, a P/E ratio of 22.62, a P/E/G ratio of 1.63 and a beta of 1.35. nVent Electric has a 52-week low of $40.22 and a 52-week high of $78.98. The firm has a 50-day moving average price of $72.84 and a 200 day moving average price of $62.39.

nVent Electric Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Friday, April 26th will be paid a $0.19 dividend. The ex-dividend date of this dividend is Thursday, April 25th. This represents a $0.76 dividend on an annualized basis and a yield of 0.98%. nVent Electric’s payout ratio is 22.16%.

Insider Buying and Selling at nVent Electric

In other news, insider Michael B. Faulconer sold 10,961 shares of the stock in a transaction that occurred 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 sale, the insider now directly owns 33,109 shares in the company, valued at $2,229,228.97. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other nVent Electric news, CEO Beth Wozniak sold 198,211 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 342 shares in the company, valued at approximately $21,987.18. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Michael B. Faulconer sold 10,961 shares of the firm’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $67.33, for a total transaction of $738,004.13. Following the sale, the insider now directly owns 33,109 shares in the company, valued at $2,229,228.97. The disclosure for this sale can be found here. In the last three months, insiders sold 397,752 shares of company stock worth $25,553,202. 2.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On nVent Electric

Several institutional investors and hedge funds have recently modified their holdings of NVT. FinTrust Capital Advisors LLC lifted its stake in shares of nVent Electric by 17.5% during the 4th quarter. FinTrust Capital Advisors LLC now owns 1,056 shares of the company’s stock worth $62,000 after purchasing an additional 157 shares during the period. HMS Capital Management LLC increased its stake in nVent Electric by 3.2% in the first quarter. HMS Capital Management LLC now owns 5,837 shares of the company’s stock valued at $440,000 after purchasing an additional 183 shares during the last quarter. Private Advisor Group LLC lifted its position in nVent Electric by 3.2% during the fourth quarter. Private Advisor Group LLC now owns 6,216 shares of the company’s stock worth $367,000 after buying an additional 191 shares during the period. State of Michigan Retirement System boosted its stake in nVent Electric by 0.5% in the 4th quarter. State of Michigan Retirement System now owns 39,806 shares of the company’s stock worth $2,352,000 after buying an additional 200 shares during the last quarter. Finally, Quent Capital LLC grew its holdings in nVent Electric by 123.2% in the 4th quarter. Quent Capital LLC now owns 424 shares of the company’s stock valued at $25,000 after buying an additional 234 shares during the period. Hedge funds and other institutional investors 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.