Research Analysts Set Expectations for nVent Electric plc’s Q3 2024 Earnings (NYSE:NVT)

nVent Electric plc (NYSE:NVT) – Analysts at William Blair cut their Q3 2024 EPS estimates for nVent Electric in a note issued to investors on Monday, May 6th. William Blair analyst B. Drab now anticipates that the company will post earnings per share of $0.86 for the quarter, down from their previous forecast 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.

A number of other research analysts also recently commented on the stock. The Goldman Sachs Group boosted their price objective on shares of nVent Electric from $77.00 to $87.00 and gave the company a “buy” rating in a research report on Monday. Deutsche Bank Aktiengesellschaft began coverage on nVent Electric in a report on Monday, March 11th. They set a “buy” rating and a $83.00 price objective for the company. Citigroup boosted their target price on nVent Electric from $91.00 to $92.00 and gave the company a “buy” rating in a research note on Monday. Barclays increased their price target on shares of nVent Electric from $74.00 to $85.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 2nd. Finally, Royal Bank of Canada cut their target price on nVent Electric from $89.00 to $88.00 and set an “outperform” rating on the stock in a report on Monday. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $87.00.

nVent Electric Trading Up 1.6 %

NYSE:NVT opened at $77.59 on Wednesday. The stock’s 50-day moving average is $72.84 and its two-hundred day moving average is $62.39. 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 stock has a market cap of $12.88 billion, a PE ratio of 22.62, a price-to-earnings-growth ratio of 1.63 and a beta of 1.35. nVent Electric has a fifty-two week low of $40.22 and a fifty-two week high of $78.98.

nVent Electric (NYSE:NVT) last posted its quarterly earnings data on Friday, May 3rd. The company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.04. The firm had revenue of $874.60 million for the quarter, compared to analysts’ expectations of $864.14 million. nVent Electric had a net margin of 17.02% and a return on equity of 17.47%. The company’s quarterly revenue was up 18.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.67 EPS.

Hedge Funds Weigh In On nVent Electric

Hedge funds have recently made changes to their positions in the business. Sequoia Financial Advisors LLC bought a new stake in nVent Electric in the fourth quarter valued at about $2,492,000. Citigroup Inc. grew its stake in shares of nVent Electric by 73.9% in the 3rd quarter. Citigroup Inc. now owns 71,372 shares of the company’s stock valued at $3,782,000 after purchasing an additional 30,325 shares during the period. Mariner LLC grew its stake in shares of nVent Electric by 10.1% in the 3rd quarter. Mariner LLC now owns 24,649 shares of the company’s stock valued at $1,306,000 after purchasing an additional 2,263 shares during the period. LPL Financial LLC raised its holdings in shares of nVent Electric by 2.0% in the 3rd quarter. LPL Financial LLC now owns 172,171 shares of the company’s stock worth $9,123,000 after buying an additional 3,418 shares in the last quarter. Finally, Vontobel Holding Ltd. lifted its position in shares of nVent Electric by 217.5% during the 4th quarter. Vontobel Holding Ltd. now owns 25,874 shares of the company’s stock worth $1,529,000 after buying an additional 17,724 shares during the period. Institutional investors and hedge funds own 90.05% of the company’s stock.

Insiders Place Their Bets

In related news, insider Michael B. Faulconer sold 10,961 shares of the stock in a transaction that occurred on Thursday, February 29th. The stock was 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 owns 33,109 shares in the company, valued at approximately $2,229,228.97. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other nVent Electric news, insider Michael B. Faulconer sold 10,961 shares of the stock in a transaction on 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 directly owns 33,109 shares of the company’s stock, valued at approximately $2,229,228.97. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Randall J. Hogan sold 184,572 shares of nVent Electric stock in a transaction dated 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 sale, the director now directly owns 8,277 shares in the company, valued at $529,976.31. The disclosure for this sale can be found here. Insiders sold a total of 397,752 shares of company stock valued at $25,553,202 in the last quarter. Insiders own 2.50% of the company’s stock.

nVent Electric Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Friday, April 26th will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date is Thursday, April 25th. nVent Electric’s dividend 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.