nVent Electric (NYSE:NVT) Releases Q4 2024 Earnings Guidance

nVent Electric (NYSE:NVT) updated its fourth quarter 2024 earnings guidance on Friday. The company provided earnings per share guidance of 0.580-0.600 for the period, compared to the consensus earnings per share estimate of 0.820. The company issued revenue guidance of $955.9 million-$973.2 million, compared to the consensus revenue estimate of $929.9 million. nVent Electric also updated its FY 2024 guidance to 2.490-2.510 EPS.

Analyst Ratings Changes

NVT has been the subject of several research analyst reports. KeyCorp lifted their price objective on nVent Electric from $80.00 to $84.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Barclays decreased their target price on nVent Electric from $87.00 to $86.00 and set an “overweight” rating for the company in a research report on Wednesday, October 2nd. Finally, Royal Bank of Canada decreased their target price on nVent Electric from $82.00 to $80.00 and set an “outperform” rating for the company in a research report on Monday. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $85.33.

nVent Electric Price Performance

NYSE NVT traded up $0.51 during mid-day trading on Monday, hitting $68.79. The stock had a trading volume of 3,563,321 shares, compared to its average volume of 1,567,538. nVent Electric has a twelve month low of $49.08 and a twelve month high of $86.57. The stock has a market capitalization of $11.43 billion, a price-to-earnings ratio of 20.11, a PEG ratio of 1.52 and a beta of 1.26. The firm’s 50 day moving average is $69.47 and its 200 day moving average is $73.12. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.17 and a quick ratio of 1.49.

nVent Electric (NYSE:NVT) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.82 earnings per share for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.01). nVent Electric had a return on equity of 17.21% and a net margin of 16.59%. The business had revenue of $880.30 million for the quarter, compared to analysts’ expectations of $892.89 million. During the same quarter in the prior year, the company posted $0.77 earnings per share. The business’s revenue for the quarter was up 9.6% compared to the same quarter last year. Equities research analysts forecast that nVent Electric will post 3.26 earnings per share for the current fiscal year.

nVent Electric Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 18th were given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 1.10%. The ex-dividend date of this dividend was Friday, October 18th. nVent Electric’s dividend payout ratio (DPR) is 22.22%.

Insiders Place Their Bets

In related news, Director Herbert K. Parker bought 7,566 shares of the 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 purchase, the director now owns 34,524 shares of the company’s stock, valued at $2,268,572.04. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, EVP Lynnette R. Heath sold 8,242 shares of the business’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $60.26, for a total value of $496,662.92. Following the completion of the transaction, the executive vice president now directly owns 30,432 shares of the company’s stock, valued at $1,833,832.32. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Herbert K. Parker purchased 7,566 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was bought 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. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.50% of the stock is currently owned by corporate 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.