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

nVent Electric plc (NYSE:NVT) – Equities research analysts at Seaport Res Ptn boosted their Q2 2024 earnings per share estimates for shares of nVent Electric in a report released on Monday, May 6th. Seaport Res Ptn analyst S. Graham now forecasts that the company will earn $0.83 per share for the quarter, up from their previous estimate 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 posted its earnings results on Friday, May 3rd. The company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.73 by $0.04. nVent Electric had a return on equity of 17.47% and a net margin of 17.02%. The firm had revenue of $874.60 million for the quarter, compared to analysts’ expectations of $864.14 million. During the same period last year, the firm earned $0.67 EPS. The company’s quarterly revenue was up 18.0% on a year-over-year basis.

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

nVent Electric Stock Up 2.7 %

Shares of NVT opened at $82.07 on Wednesday. The firm has a market cap of $13.63 billion, a P/E ratio of 23.93, 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 $82.30. The stock’s 50 day moving average is $73.41 and its two-hundred day moving average is $62.65. The company has a current ratio of 1.99, a quick ratio of 1.35 and a debt-to-equity ratio of 0.54.

nVent Electric Dividend Announcement

The firm also recently declared 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 0.93%. The ex-dividend date of this dividend is Thursday, April 25th. nVent Electric’s dividend payout ratio is currently 22.16%.

Insider Buying and Selling

In other nVent Electric news, insider Michael B. Faulconer sold 10,961 shares of the stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $67.33, for a total value of $738,004.13. Following the completion of the sale, 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 SEC, which can be accessed through this hyperlink. In other news, Director Jerry W. Burris sold 4,008 shares of the business’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $63.39, for a total transaction of $254,067.12. Following the transaction, the director now owns 43,072 shares of the company’s stock, valued at approximately $2,730,334.08. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Michael B. Faulconer sold 10,961 shares of the company’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $67.33, for a total transaction of $738,004.13. Following the completion of the sale, the insider now directly owns 33,109 shares of the company’s stock, valued at approximately $2,229,228.97. The disclosure for this sale can be found here. 2.50% of the stock is currently owned by company insiders.

Institutional Trading of nVent Electric

Several hedge funds have recently made changes to their positions in the company. FinTrust Capital Advisors LLC lifted its holdings in nVent Electric by 17.5% in the fourth quarter. FinTrust Capital Advisors LLC now owns 1,056 shares of the company’s stock valued at $62,000 after acquiring an additional 157 shares during the last quarter. HMS Capital Management LLC grew its holdings in shares of nVent Electric by 3.2% during the 1st quarter. HMS Capital Management LLC now owns 5,837 shares of the company’s stock worth $440,000 after purchasing an additional 183 shares during the period. Private Advisor Group LLC increased its position in shares of nVent Electric by 3.2% during the 4th quarter. Private Advisor Group LLC now owns 6,216 shares of the company’s stock worth $367,000 after purchasing an additional 191 shares during the last quarter. State of Michigan Retirement System raised its holdings in nVent Electric by 0.5% in the 4th quarter. State of Michigan Retirement System now owns 39,806 shares of the company’s stock valued at $2,352,000 after buying an additional 200 shares during the period. Finally, Quent Capital LLC lifted its position in nVent Electric by 123.2% in the fourth quarter. Quent Capital LLC now owns 424 shares of the company’s stock valued at $25,000 after buying an additional 234 shares during the last quarter. Hedge funds and other institutional investors own 90.05% of the company’s stock.

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.