Seaport Res Ptn Predicts nVent Electric FY2024 Earnings

nVent Electric plc (NYSE:NVT) – Equities researchers at Seaport Res Ptn issued their FY2024 EPS 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 post earnings per share of $2.50 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.

A number of other research analysts have also weighed in on the company. Barclays decreased their price objective on nVent Electric from $87.00 to $86.00 and set an “overweight” rating on the stock in a report on Wednesday, October 2nd. Royal Bank of Canada decreased their price target on shares of nVent Electric from $82.00 to $80.00 and set an “outperform” rating on the stock in a research note on Monday. Finally, KeyCorp upped their price objective on shares of nVent Electric from $80.00 to $84.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, nVent Electric currently has a consensus rating of “Buy” and an average target price of $85.33.

nVent Electric Stock Performance

NYSE NVT opened at $77.07 on Thursday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.83 and a quick ratio of 1.36. The stock’s 50 day simple moving average is $69.83 and its 200-day simple moving average is $73.12. The company has a market cap of $12.70 billion, a PE ratio of 22.60, a price-to-earnings-growth ratio of 1.83 and a beta of 1.26. nVent Electric has a 1-year low of $49.28 and a 1-year high of $86.57.

nVent Electric (NYSE:NVT) last issued its quarterly 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 net margin of 16.95% and a return on equity of 15.66%. The company had revenue of $782.00 million during the quarter, compared to analysts’ expectations of $937.37 million. During the same period in the prior year, the business posted $0.84 earnings per share. The company’s quarterly revenue was up 9.4% compared to the same quarter last year.

nVent Electric Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 18th were paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 0.99%. The ex-dividend date of this dividend was Friday, October 18th. nVent Electric’s dividend payout ratio (DPR) is presently 22.29%.

Insider Transactions at nVent Electric

In other nVent Electric news, Director Herbert K. Parker purchased 7,566 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were bought 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 directly owns 34,524 shares in the company, valued at approximately $2,268,572.04. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. In other nVent Electric news, Director Herbert K. Parker bought 7,566 shares of nVent Electric stock in a transaction dated Thursday, August 15th. The stock was acquired at an average cost of $65.71 per share, with a total value of $497,161.86. Following the completion of the acquisition, the director now owns 34,524 shares of the company’s stock, valued at approximately $2,268,572.04. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Michael B. Faulconer sold 20,004 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $63.34, for a total value of $1,267,053.36. Following the transaction, the insider now directly owns 19,766 shares in the company, valued at approximately $1,251,978.44. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.50% of the company’s stock.

Institutional Investors Weigh In On nVent Electric

Hedge funds have recently modified their holdings of the stock. UMB Bank n.a. raised its position in nVent Electric by 280.0% during the 3rd quarter. UMB Bank n.a. now owns 418 shares of the company’s stock worth $29,000 after buying an additional 308 shares during the last quarter. ORG Wealth Partners LLC purchased a new position in nVent Electric during the third quarter worth about $29,000. ORG Partners LLC acquired a new stake in nVent Electric in the second quarter valued at about $31,000. First Foundation Advisors acquired a new position in nVent Electric during the 2nd quarter worth approximately $34,000. Finally, Ashton Thomas Private Wealth LLC purchased a new position in shares of nVent Electric during the 2nd quarter worth approximately $34,000. 90.05% of the stock is owned by institutional investors and hedge funds.

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.