nVent Electric (NYSE:NVT) Posts Earnings Results, Misses Estimates By $0.01 EPS

nVent Electric (NYSE:NVT) announced its quarterly earnings results on Tuesday. The company reported $0.82 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.01), Briefing.com reports. nVent Electric had a net margin of 17.02% and a return on equity of 17.47%. The company had revenue of $880.30 million during the quarter, compared to analysts’ expectations of $892.89 million. During the same quarter in the prior year, the business posted $0.77 earnings per share. The company’s revenue was up 9.6% compared to the same quarter last year.

nVent Electric Stock Performance

NVT traded up $0.94 on Friday, reaching $63.72. 1,500,225 shares of the stock were exchanged, compared to its average volume of 1,505,156. The company’s 50-day moving average price is $75.22 and its 200 day moving average price is $72.84. nVent Electric has a fifty-two week low of $45.60 and a fifty-two week high of $86.57. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.99 and a quick ratio of 1.35. The firm has a market capitalization of $10.58 billion, a PE ratio of 18.30, a PEG ratio of 1.52 and a beta of 1.31.

nVent Electric Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 2nd. Shareholders of record on Friday, July 19th were given a dividend of $0.19 per share. The ex-dividend date of this dividend was Friday, July 19th. This represents a $0.76 dividend on an annualized basis and a yield of 1.19%. nVent Electric’s dividend payout ratio is currently 22.16%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Royal Bank of Canada dropped their target price on nVent Electric from $88.00 to $82.00 and set an “outperform” rating on the stock in a research note on Wednesday. The Goldman Sachs Group boosted their target price on nVent Electric from $77.00 to $87.00 and gave the stock a “buy” rating in a research note on Monday, May 6th. Citigroup boosted 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, May 6th. Finally, Barclays boosted their target price on nVent Electric from $85.00 to $95.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 4th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, nVent Electric has an average rating of “Buy” and an average price target of $87.80.

Insiders Place Their Bets

In other nVent Electric news, EVP Lynnette R. Heath sold 8,242 shares of nVent Electric stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $60.26, for a total transaction of $496,662.92. Following the completion of the sale, the executive vice president now owns 30,432 shares of the company’s stock, valued at approximately $1,833,832.32. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 2.50% of the stock is currently owned by insiders.

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.