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

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

nVent Electric Trading Up 1.5 %

NVT traded up $0.94 during trading on Friday, hitting $63.72. The company’s stock had a trading volume of 1,500,225 shares, compared to its average volume of 1,505,156. The firm’s 50 day moving average price is $75.22 and its 200-day moving average price is $72.84. 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 $10.58 billion, a PE ratio of 18.30, a PEG ratio of 1.52 and a beta of 1.31. nVent Electric has a twelve month low of $45.60 and a twelve month high of $86.57.

nVent Electric Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 2nd. Shareholders of record on Friday, July 19th were issued a $0.19 dividend. The ex-dividend date of this dividend was Friday, July 19th. This represents a $0.76 annualized dividend and a yield of 1.19%. nVent Electric’s dividend payout ratio (DPR) is presently 22.16%.

Insider Buying and Selling at nVent Electric

In other nVent Electric 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 in the company, valued at approximately $1,833,832.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.50% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms have recently issued reports on NVT. Citigroup lifted their price target on shares of nVent Electric from $91.00 to $92.00 and gave the company a “buy” rating in a research report on Monday, May 6th. The Goldman Sachs Group lifted their price target on shares of nVent Electric from $77.00 to $87.00 and gave the company a “buy” rating in a research report on Monday, May 6th. Barclays lifted their price target on shares of nVent Electric from $85.00 to $95.00 and gave the company an “overweight” rating in a research report on Tuesday, June 4th. Finally, Royal Bank of Canada reduced their price target on shares of nVent Electric from $88.00 to $82.00 and set an “outperform” rating for the company in a research report on Wednesday. Five analysts have rated the stock with a buy rating, According to MarketBeat, nVent Electric presently has an average rating of “Buy” and a consensus target price of $87.80.

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.