Seaport Res Ptn Estimates nVent Electric FY2024 Earnings

nVent Electric plc (NYSE:NVT) – Equities researchers at Seaport Res Ptn issued their FY2024 earnings per share estimates for nVent Electric in a note issued to investors on Tuesday, November 5th. Seaport Res Ptn analyst S. Graham expects 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.

nVent Electric (NYSE:NVT) last posted its earnings results on Tuesday, November 5th. The company reported $0.63 earnings per share for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.18). nVent Electric had a return on equity of 15.66% and a net margin of 16.95%. The business had revenue of $782.00 million for the quarter, compared to analyst estimates of $937.37 million. During the same period in the previous year, the firm posted $0.84 earnings per share. The firm’s revenue was up 9.4% compared to the same quarter last year.

Several other analysts also recently commented on the stock. Royal Bank of Canada reduced their target price on shares of nVent Electric from $82.00 to $80.00 and set an “outperform” rating for the company in a report on Monday, November 4th. Barclays cut their price objective on shares of nVent Electric from $87.00 to $86.00 and set an “overweight” rating for the company in a research report on Wednesday, October 2nd. Finally, KeyCorp upped their target price on nVent Electric from $80.00 to $84.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $85.33.

nVent Electric Price Performance

NYSE:NVT opened at $76.95 on Thursday. The company has a market cap of $12.68 billion, a P/E ratio of 22.57, a P/E/G ratio of 3.97 and a beta of 1.26. The firm’s fifty day moving average price is $70.23 and its two-hundred day moving average price is $73.19. nVent Electric has a one year low of $49.93 and a one year high of $86.57. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.83 and a quick ratio of 1.36.

Institutional Trading of nVent Electric

A number of institutional investors and hedge funds have recently made changes to their positions in NVT. ORG Partners LLC bought a new stake in shares of nVent Electric during the 2nd quarter worth $31,000. ORG Wealth Partners LLC bought a new position in nVent Electric in the third quarter valued at about $29,000. UMB Bank n.a. raised its stake in nVent Electric by 280.0% during the third quarter. UMB Bank n.a. now owns 418 shares of the company’s stock worth $29,000 after acquiring an additional 308 shares in the last quarter. First Foundation Advisors bought a new position in shares of nVent Electric in the second quarter worth about $34,000. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in shares of nVent Electric in the 2nd quarter valued at approximately $34,000. Institutional investors own 90.05% of the company’s stock.

Insiders Place Their Bets

In related news, Director Herbert K. Parker purchased 7,566 shares of the business’s stock in a transaction that occurred on 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 in the company, valued at approximately $2,268,572.04. This represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Herbert K. Parker purchased 7,566 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were bought at an average price of $65.71 per share, for a total transaction of $497,161.86. Following the completion of the transaction, the director now owns 34,524 shares of the company’s stock, valued at approximately $2,268,572.04. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, CAO Randolph A. Wacker sold 8,022 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $75.87, for a total value of $608,629.14. Following the completion of the transaction, the chief accounting officer now directly owns 25,993 shares of the company’s stock, valued at approximately $1,972,088.91. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 95,323 shares of company stock worth $6,994,965 in the last quarter. 2.50% of the stock is currently owned by corporate insiders.

nVent Electric Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 18th were given a dividend of $0.19 per share. 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 is 22.29%.

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.