Q3 2024 EPS Estimates for nVent Electric plc Lowered by Analyst (NYSE:NVT)

nVent Electric plc (NYSE:NVT - Free Report) - Analysts at William Blair lowered their Q3 2024 earnings per share (EPS) estimates for shares of nVent Electric in a note issued to investors on Monday, May 6th. William Blair analyst B. Drab now anticipates that the company will earn $0.86 per share 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 - Get Free Report) last posted its quarterly earnings results on Friday, May 3rd. The company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.73 by $0.04. nVent Electric had a return on equity of 17.47% and a net margin of 17.02%. The business had revenue of $874.60 million for the quarter, compared to analyst estimates of $864.14 million. During the same quarter in the previous year, the firm earned $0.67 EPS. The company's quarterly revenue was up 18.0% compared to the same quarter last year.

Several other brokerages have also weighed in on NVT. Deutsche Bank Aktiengesellschaft began coverage on shares of nVent Electric in a research note on Monday, March 11th. They set a "buy" rating and a $83.00 target price for the company. The Goldman Sachs Group lifted their target price on shares of nVent Electric from $77.00 to $87.00 and gave the company a "buy" rating in a report on Monday. Citigroup increased their target price on nVent Electric from $91.00 to $92.00 and gave the stock a "buy" rating in a research note on Monday. Barclays lifted their target price on nVent Electric from $74.00 to $85.00 and gave the company an "overweight" rating in a research report on Tuesday, April 2nd. Finally, Royal Bank of Canada lowered their price objective on shares of nVent Electric from $89.00 to $88.00 and set an "outperform" rating for the company in a research note on Monday. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat.com, nVent Electric presently has a consensus rating of "Moderate Buy" and an average price target of $87.00.

nVent Electric Trading Up 3.0 %

Shares of NYSE NVT traded up $2.31 during midday trading on Wednesday, reaching $79.92. 2,056,371 shares of the stock were exchanged, compared to its average volume of 1,341,217. nVent Electric has a twelve month low of $40.22 and a twelve month high of $80.03. The stock has a market capitalization of $13.26 billion, a P/E ratio of 23.30, a PEG ratio of 1.63 and a beta of 1.35. The company has a 50 day simple moving average of $73.12 and a 200 day simple moving average of $62.51. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.35 and a current ratio of 1.99.

Institutional Investors Weigh In On nVent Electric

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Quent Capital LLC grew its stake 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 acquiring an additional 234 shares during the last quarter. HM Payson & Co. purchased a new position in shares of nVent Electric during the 3rd quarter worth approximately $26,000. Banque Cantonale Vaudoise purchased a new position in shares of nVent Electric during the 1st quarter worth approximately $26,000. Livelsberger Financial Advisory acquired a new position in shares of nVent Electric during the 4th quarter worth approximately $28,000. Finally, Pacific Center for Financial Services purchased a new stake in nVent Electric in the 3rd quarter valued at approximately $32,000. 90.05% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at nVent Electric

In other nVent Electric news, Director Jerry W. Burris sold 4,008 shares of nVent Electric stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $63.39, for a total value of $254,067.12. Following the transaction, the director now directly owns 43,072 shares in the company, valued at approximately $2,730,334.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Randall J. Hogan sold 184,572 shares of the 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 transaction, the director now directly owns 8,277 shares of the company's stock, valued at approximately $529,976.31. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Jerry W. Burris sold 4,008 shares of the firm's stock in a transaction on 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 sale, the director now directly owns 43,072 shares of the company's stock, valued at approximately $2,730,334.08. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 397,752 shares of company stock worth $25,553,202. Insiders own 2.50% of the company's stock.

nVent Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Friday, April 26th will be issued a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 0.95%. The ex-dividend date is Thursday, April 25th. nVent Electric's payout ratio is currently 22.16%.

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.