nVent Electric (NYSE:NVT) Releases Earnings Results, Misses Estimates By $0.01 EPS

nVent Electric (NYSE:NVT) released its earnings results on Tuesday. The company reported $0.82 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.01), Briefing.com reports. nVent Electric had a net margin of 17.02% and a return on equity of 17.47%. The company had revenue of $880.30 million for the quarter, compared to analyst estimates of $892.89 million. During the same quarter in the previous year, the firm earned $0.77 EPS. The firm’s revenue was up 9.6% on a year-over-year basis.

nVent Electric Stock Up 1.5 %

Shares of NVT stock traded up $0.94 on Friday, hitting $63.72. The stock had a trading volume of 1,500,225 shares, compared to its average volume of 1,505,156. The business has a 50 day moving average of $75.22 and a 200 day moving average of $72.84. The stock has a market cap of $10.58 billion, a price-to-earnings ratio of 18.30, a price-to-earnings-growth ratio of 1.52 and a beta of 1.31. 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 $45.60 and a 12-month high of $86.57.

nVent Electric Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 2nd. Stockholders of record on Friday, July 19th were issued a $0.19 dividend. The ex-dividend date was Friday, July 19th. This represents a $0.76 annualized dividend and a dividend yield of 1.19%. nVent Electric’s dividend payout ratio is currently 22.16%.

Insider Activity

In other news, EVP Lynnette R. Heath sold 8,242 shares of the stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $60.26, for a total value of $496,662.92. Following the completion of the sale, the executive vice president now owns 30,432 shares in the company, valued at $1,833,832.32. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 2.50% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Citigroup upped their price objective on shares of nVent Electric from $91.00 to $92.00 and gave the stock a “buy” rating in a report on Monday, May 6th. Royal Bank of Canada lowered their price objective on shares of nVent Electric from $88.00 to $82.00 and set an “outperform” rating on the stock in a report on Wednesday. The Goldman Sachs Group upped their price objective on shares of nVent Electric from $77.00 to $87.00 and gave the stock a “buy” rating in a report on Monday, May 6th. Finally, Barclays upped their price objective on shares of nVent Electric from $85.00 to $95.00 and gave the stock an “overweight” rating in a report on Tuesday, June 4th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, nVent Electric has a consensus rating of “Buy” and a consensus price target of $87.80.

About nVent Electric

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.