nVent Electric plc (NYSE:NVT) to Post Q3 2024 Earnings of $0.86 Per Share, William Blair Forecasts

nVent Electric plc (NYSE:NVT) – Investment analysts at William Blair lowered their Q3 2024 earnings estimates for shares of nVent Electric in a note issued to investors on Monday, May 6th. William Blair analyst B. Drab now forecasts that the company will post earnings per share of $0.86 for the quarter, down from their previous estimate of $0.87. The consensus estimate for nVent Electric’s current full-year earnings is $3.25 per share. William Blair also issued estimates for nVent Electric’s Q4 2024 earnings at $0.80 EPS and FY2024 earnings at $3.25 EPS.

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

Other research analysts have also recently issued research reports about the company. Deutsche Bank Aktiengesellschaft began coverage on nVent Electric in a research report on Monday, March 11th. They issued a “buy” rating and a $83.00 price objective for the company. The Goldman Sachs Group raised their price objective on shares of nVent Electric from $77.00 to $87.00 and gave the company a “buy” rating in a research note on Monday. Barclays upped 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. Citigroup lifted their price target on shares of nVent Electric from $91.00 to $92.00 and gave the company a “buy” rating in a research report on Monday. Finally, Royal Bank of Canada lowered their price target on nVent Electric from $89.00 to $88.00 and set an “outperform” rating on the stock in a report on Monday. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $87.00.

nVent Electric Stock Up 2.7 %

NVT opened at $82.07 on Wednesday. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.99 and a quick ratio of 1.35. nVent Electric has a 12 month low of $40.22 and a 12 month high of $82.30. The stock has a market capitalization of $13.63 billion, a P/E ratio of 23.93, a P/E/G ratio of 1.63 and a beta of 1.35. The business has a 50 day simple moving average of $73.41 and a 200-day simple moving average of $62.65.

nVent Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Friday, April 26th will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 0.93%. The ex-dividend date is Thursday, April 25th. nVent Electric’s payout ratio is currently 22.16%.

Insider Buying and Selling at nVent Electric

In other nVent Electric news, Director Jerry W. Burris sold 4,008 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $63.39, for a total transaction of $254,067.12. Following the sale, the director now owns 43,072 shares in the company, valued at approximately $2,730,334.08. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, Director Jerry W. Burris sold 4,008 shares of the business’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $63.39, for a total value of $254,067.12. Following the completion of the transaction, the director now owns 43,072 shares of the company’s stock, valued at approximately $2,730,334.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at 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. Insiders own 2.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of NVT. Banque Cantonale Vaudoise purchased a new stake in shares of nVent Electric in the first quarter valued at $26,000. Quent Capital LLC boosted its stake in nVent Electric by 123.2% in the 4th quarter. Quent Capital LLC now owns 424 shares of the company’s stock worth $25,000 after buying an additional 234 shares during the last quarter. Rise Advisors LLC purchased a new stake in nVent Electric in the 1st quarter valued at about $32,000. Livelsberger Financial Advisory acquired a new position in shares of nVent Electric during the 4th quarter valued at about $28,000. Finally, HM Payson & Co. acquired a new position in shares of nVent Electric during the 3rd quarter valued at about $26,000. 90.05% of the stock is currently 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.