Q2 2024 EPS Estimates for nVent Electric plc Lowered by William Blair (NYSE:NVT)

nVent Electric plc (NYSE:NVT) – Investment analysts at William Blair dropped their Q2 2024 earnings per share estimates for nVent Electric in a research report issued to clients and investors on Monday, May 6th. William Blair analyst B. Drab now forecasts that the company will post earnings per share of $0.82 for the quarter, down from their prior forecast of $0.83. 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 FY2025 earnings at $3.51 EPS.

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

A number of other equities research analysts have also recently weighed in on NVT. Royal Bank of Canada reduced their price target on shares of nVent Electric from $89.00 to $88.00 and set an “outperform” rating for the company in a research report on Monday. Barclays boosted their target price on nVent Electric from $74.00 to $85.00 and gave the company an “overweight” rating in a report on Tuesday, April 2nd. Citigroup raised their price target on nVent Electric from $91.00 to $92.00 and gave the stock a “buy” rating in a research note on Monday. The Goldman Sachs Group boosted their price objective on nVent Electric from $77.00 to $87.00 and gave the company a “buy” rating in a research note on Monday. Finally, Deutsche Bank Aktiengesellschaft assumed 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 research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, nVent Electric currently has a consensus rating of “Moderate Buy” and a consensus price target of $87.00.

nVent Electric Trading Up 3.0 %

Shares of nVent Electric stock opened at $79.92 on Tuesday. The company has a current ratio of 1.99, a quick ratio of 1.35 and a debt-to-equity ratio of 0.54. The company has a fifty day simple moving average of $73.12 and a 200-day simple moving average of $62.51. The stock has a market cap of $13.26 billion, a price-to-earnings ratio of 23.30, a PEG ratio of 1.63 and a beta of 1.35. nVent Electric has a 12-month low of $40.22 and a 12-month high of $80.03.

nVent Electric Dividend Announcement

The business also recently disclosed 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. The ex-dividend date is Thursday, April 25th. This represents a $0.76 dividend on an annualized basis and a yield of 0.95%. nVent Electric’s payout ratio is 22.16%.

Insiders Place Their Bets

In other news, Director Randall J. Hogan sold 184,572 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $64.03, for a total transaction of $11,818,145.16. Following the completion of the sale, the director now owns 8,277 shares in the company, valued at $529,976.31. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other nVent Electric news, insider Michael B. Faulconer sold 10,961 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $67.33, for a total transaction of $738,004.13. Following the transaction, the insider now owns 33,109 shares in the company, valued at approximately $2,229,228.97. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Randall J. Hogan sold 184,572 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $64.03, for a total value of $11,818,145.16. Following the completion of the sale, the director now directly owns 8,277 shares of the company’s stock, valued at $529,976.31. The disclosure for this sale can be found here. In the last ninety days, insiders sold 199,541 shares of company stock valued at $12,810,216. 2.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On nVent Electric

Institutional investors and hedge funds have recently made changes to their positions in the stock. Quent Capital LLC boosted its holdings in nVent Electric by 123.2% during the fourth quarter. Quent Capital LLC now owns 424 shares of the company’s stock worth $25,000 after buying an additional 234 shares in the last quarter. HM Payson & Co. acquired a new stake in shares of nVent Electric during the 3rd quarter valued at approximately $26,000. Banque Cantonale Vaudoise acquired a new stake in shares of nVent Electric during the 1st quarter valued at approximately $26,000. Livelsberger Financial Advisory purchased a new stake in shares of nVent Electric during the 4th quarter worth approximately $28,000. Finally, Pacific Center for Financial Services acquired a new stake in shares of nVent Electric in the 3rd quarter worth approximately $32,000. 90.05% of the stock is 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.