Seaport Res Ptn Forecasts nVent Electric FY2024 Earnings

nVent Electric plc (NYSE:NVT) – Investment analysts at Seaport Res Ptn issued their FY2024 earnings estimates for shares of nVent Electric in a research note issued on Tuesday, November 5th. Seaport Res Ptn analyst S. Graham forecasts that the company will earn $2.50 per share 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.

Several other equities analysts have also issued reports on NVT. Barclays cut their target price on nVent Electric from $87.00 to $86.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 2nd. Royal Bank of Canada cut their price objective on shares of nVent Electric from $82.00 to $80.00 and set an “outperform” rating on the stock in a research report on Monday. Finally, KeyCorp increased their target price on shares of nVent Electric from $80.00 to $84.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $85.33.

nVent Electric Trading Up 10.5 %

NVT opened at $77.07 on Thursday. The company has a current ratio of 1.83, a quick ratio of 1.36 and a debt-to-equity ratio of 0.68. The firm has a market cap of $12.70 billion, a price-to-earnings ratio of 22.60, a PEG ratio of 1.83 and a beta of 1.26. nVent Electric has a 12 month low of $49.28 and a 12 month high of $86.57. The stock has a fifty day moving average price of $69.83 and a 200-day moving average price of $73.12.

nVent Electric (NYSE:NVT) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $0.63 EPS for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.18). The business had revenue of $782.00 million during the quarter, compared to the consensus estimate of $937.37 million. nVent Electric had a return on equity of 15.66% and a net margin of 16.95%. The business’s quarterly revenue was up 9.4% on a year-over-year basis. During the same period last year, the firm earned $0.84 EPS.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Private Advisor Group LLC grew its position in nVent Electric by 6.1% during the 1st quarter. Private Advisor Group LLC now owns 6,598 shares of the company’s stock worth $498,000 after purchasing an additional 382 shares during the period. BNP Paribas Financial Markets raised its position in nVent Electric by 3.2% during the first quarter. BNP Paribas Financial Markets now owns 66,641 shares of the company’s stock valued at $5,025,000 after acquiring an additional 2,064 shares in the last quarter. Janney Montgomery Scott LLC lifted its holdings in nVent Electric by 92.7% in the first quarter. Janney Montgomery Scott LLC now owns 18,877 shares of the company’s stock valued at $1,423,000 after acquiring an additional 9,081 shares during the period. Nordea Investment Management AB boosted its position in nVent Electric by 15.5% in the 1st quarter. Nordea Investment Management AB now owns 75,323 shares of the company’s stock worth $5,684,000 after purchasing an additional 10,135 shares in the last quarter. Finally, Texas Permanent School Fund Corp grew its stake in shares of nVent Electric by 1.3% during the 1st quarter. Texas Permanent School Fund Corp now owns 145,204 shares of the company’s stock worth $10,948,000 after purchasing an additional 1,880 shares during the period. Hedge funds and other institutional investors own 90.05% of the company’s stock.

Insiders Place Their Bets

In related news, Director Herbert K. Parker acquired 7,566 shares of the stock in a transaction dated Thursday, August 15th. The stock was acquired at an average cost of $65.71 per share, for a total transaction of $497,161.86. Following the completion of the purchase, the director now owns 34,524 shares of the company’s stock, valued at approximately $2,268,572.04. This represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Herbert K. Parker acquired 7,566 shares of nVent Electric stock in a transaction dated Thursday, August 15th. The stock was purchased at an average cost of $65.71 per share, for a total transaction of $497,161.86. Following the completion of the purchase, the director now directly owns 34,524 shares in the company, valued at $2,268,572.04. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Michael B. Faulconer sold 20,004 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $63.34, for a total value of $1,267,053.36. Following the completion of the sale, the insider now owns 19,766 shares in the company, valued at approximately $1,251,978.44. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 2.50% of the stock is owned by insiders.

nVent Electric Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 18th were paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date was Friday, October 18th. nVent Electric’s dividend payout ratio (DPR) is presently 22.29%.

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.