Seaport Res Ptn Weighs in on nVent Electric plc’s Q3 2024 Earnings (NYSE:NVT)

nVent Electric plc (NYSE:NVT) – Seaport Res Ptn decreased their Q3 2024 earnings per share (EPS) estimates for shares of nVent Electric in a research report issued to clients and investors on Wednesday, August 7th. Seaport Res Ptn analyst S. Graham now anticipates that the company will earn $0.82 per share for the quarter, down from their prior forecast of $0.87. The consensus estimate for nVent Electric’s current full-year earnings is $3.27 per share. Seaport Res Ptn also issued estimates for nVent Electric’s Q4 2024 earnings at $0.86 EPS and Q3 2025 earnings at $0.94 EPS.

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

nVent Electric Stock Performance

Shares of NVT stock traded up $0.94 on Thursday, hitting $63.72. The company’s stock had a trading volume of 1,677,437 shares, compared to its average volume of 1,505,156. nVent Electric has a fifty-two week low of $45.60 and a fifty-two week high of $86.57. The company has a market capitalization of $10.58 billion, a PE ratio of 18.58, a PEG ratio of 1.52 and a beta of 1.31. The stock’s 50 day moving average is $74.87 and its 200-day moving average is $72.88. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.35 and a current ratio of 1.99.

nVent Electric (NYSE:NVT) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.82 earnings per share for the quarter, missing the consensus estimate of $0.83 by ($0.01). The firm had revenue of $880.30 million for the quarter, compared to analyst estimates of $892.89 million. nVent Electric had a return on equity of 17.47% and a net margin of 17.02%. The firm’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.77 earnings per share.

Institutional Investors Weigh In On nVent Electric

Several large investors have recently added to or reduced their stakes in NVT. Banque Cantonale Vaudoise purchased a new stake in nVent Electric during the first quarter valued at about $26,000. Livelsberger Financial Advisory bought a new stake in nVent Electric in the 4th quarter worth $28,000. ORG Partners LLC purchased a new stake in nVent Electric in the 2nd quarter worth approximately $31,000. Rise Advisors LLC bought a new stake in nVent Electric in the first quarter valued at $32,000. Finally, First Foundation Advisors purchased a new stake in nVent Electric in the second quarter worth about $34,000. Institutional investors own 90.05% of the company’s stock.

Insider Transactions at nVent Electric

In related news, EVP Lynnette R. Heath sold 8,242 shares of the business’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $60.26, for a total value of $496,662.92. Following the sale, 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 document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 2.50% of the company’s stock.

nVent Electric Announces Dividend

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

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.