Q2 2024 Earnings Estimate for nVent Electric plc Issued By Seaport Res Ptn (NYSE:NVT)

nVent Electric plc (NYSE:NVT) – Research analysts at Seaport Res Ptn raised their Q2 2024 earnings per share (EPS) estimates for shares of nVent Electric in a note issued to investors on Monday, May 6th. Seaport Res Ptn analyst S. Graham now anticipates that the company will earn $0.83 per share for the quarter, up from their previous forecast of $0.81. The consensus estimate for nVent Electric’s current full-year earnings is $3.25 per share. Seaport Res Ptn also issued estimates for nVent Electric’s FY2024 earnings at $3.29 EPS, Q1 2025 earnings at $0.91 EPS, Q2 2025 earnings at $0.95 EPS, Q3 2025 earnings at $0.95 EPS, Q4 2025 earnings at $0.90 EPS and FY2025 earnings at $3.60 EPS.

nVent Electric (NYSE:NVT) last announced its quarterly earnings data on Friday, May 3rd. The company reported $0.77 earnings per share (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 analyst estimates of $864.14 million. During the same quarter in the prior year, the firm posted $0.67 earnings per share. nVent Electric’s quarterly revenue was up 18.0% on a year-over-year basis.

Other research analysts have also recently issued reports about the company. Citigroup upped their price objective on nVent Electric from $91.00 to $92.00 and gave the company a “buy” rating in a report on Monday. Barclays upped their price target on nVent Electric from $74.00 to $85.00 and gave the company an “overweight” rating in a research note on Tuesday, April 2nd. The Goldman Sachs Group raised their price objective on nVent Electric from $77.00 to $87.00 and gave the stock a “buy” rating in a research report on Monday. Royal Bank of Canada dropped 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. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of nVent Electric in a report on Monday, March 11th. They issued a “buy” rating and a $83.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, nVent Electric currently has an average rating of “Moderate Buy” and an average price target of $87.00.

nVent Electric Stock Performance

nVent Electric stock opened at $79.92 on Wednesday. The firm has a 50 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 price-to-earnings-growth ratio of 1.63 and a beta of 1.35. 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 1-year low of $40.22 and a 1-year high of $80.03.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of NVT. Congress Asset Management Co. MA acquired a new position in nVent Electric in the 3rd quarter valued at about $116,908,000. FMR LLC lifted its holdings in shares of nVent Electric by 41.8% during the third quarter. FMR LLC now owns 6,556,055 shares of the company’s stock worth $347,405,000 after purchasing an additional 1,932,142 shares during the period. Norges Bank purchased a new position in nVent Electric in the 4th quarter valued at $109,630,000. Massachusetts Financial Services Co. MA increased its stake in nVent Electric by 68.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,952,040 shares of the company’s stock valued at $209,419,000 after buying an additional 1,604,534 shares during the period. Finally, Robeco Schweiz AG raised its position in nVent Electric by 3,911.6% during the 3rd quarter. Robeco Schweiz AG now owns 1,315,800 shares of the company’s stock worth $69,724,000 after buying an additional 1,283,000 shares during the last quarter. 90.05% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at nVent Electric

In other nVent Electric news, Director Jerry W. Burris sold 4,008 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $63.39, for a total transaction of $254,067.12. Following the completion of the transaction, the director now owns 43,072 shares in the company, valued at approximately $2,730,334.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other nVent Electric news, Director Jerry W. Burris sold 4,008 shares of the firm’s stock in a transaction 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 sale, the director now directly owns 43,072 shares in the company, valued at $2,730,334.08. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Randall J. Hogan sold 184,572 shares of nVent Electric stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $64.03, for a total value of $11,818,145.16. Following the transaction, the director now directly owns 8,277 shares in the company, valued at approximately $529,976.31. The disclosure for this sale can be found here. Over the last quarter, insiders sold 199,541 shares of company stock worth $12,810,216. Corporate insiders own 2.50% of the company’s stock.

nVent Electric Announces Dividend

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