Equities research analysts expect nVent Electric plc (NYSE:NVT) to post earnings of $0.40 per share for the current quarter, according to Zacks. Two analysts have made estimates for nVent Electric’s earnings, with estimates ranging from $0.39 to $0.40. nVent Electric posted earnings of $0.29 per share in the same quarter last year, which would indicate a positive year over year growth rate of 37.9%. The business is expected to report its next earnings report on Friday, July 30th.
According to Zacks, analysts expect that nVent Electric will report full year earnings of $1.73 per share for the current fiscal year, with EPS estimates ranging from $1.73 to $1.74. For the next year, analysts expect that the firm will report earnings of $1.88 per share, with EPS estimates ranging from $1.84 to $1.90. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research firms that cover nVent Electric.
nVent Electric (NYSE:NVT) last issued its quarterly earnings results on Thursday, April 29th. The company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.35 by $0.08. nVent Electric had a negative net margin of 0.02% and a positive return on equity of 11.02%. The company had revenue of $548.90 million during the quarter, compared to analysts’ expectations of $503.25 million.
NVT has been the subject of a number of analyst reports. KeyCorp lifted their price objective on shares of nVent Electric from $34.00 to $37.00 and gave the company an “overweight” rating in a research report on Tuesday, June 8th. Royal Bank of Canada increased their price target on nVent Electric from $27.00 to $30.00 and gave the company an “outperform” rating in a research report on Thursday, March 4th. Barclays increased their target price on shares of nVent Electric from $39.00 to $44.00 and gave the company an “overweight” rating in a research report on Monday, May 3rd. Zacks Investment Research raised shares of nVent Electric from a “hold” rating to a “buy” rating and set a $35.00 target price on the stock in a report on Thursday. Finally, Rosenblatt Securities raised their target price on nVent Electric from $35.00 to $38.00 and gave the stock a “buy” rating in a research note on Monday, May 3rd. Six investment analysts have rated the stock with a buy rating, The company currently has an average rating of “Buy” and a consensus price target of $35.83.
NYSE:NVT opened at $30.59 on Friday. The company has a market capitalization of $5.13 billion, a PE ratio of -3,059,000.00, a PEG ratio of 1.97 and a beta of 1.56. nVent Electric has a 1-year low of $16.92 and a 1-year high of $33.29. The firm has a fifty day moving average price of $31.06. The company has a quick ratio of 1.21, a current ratio of 1.72 and a debt-to-equity ratio of 0.38.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 6th. Stockholders of record on Friday, July 23rd will be issued a dividend of $0.175 per share. This represents a $0.70 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date of this dividend is Thursday, July 22nd. nVent Electric’s dividend payout ratio is currently 46.67%.
In related news, Director Randall J. Hogan sold 21,060 shares of the stock in a transaction on Thursday, May 6th. The shares were sold at an average price of $31.61, for a total transaction of $665,706.60. Following the transaction, the director now owns 193,824 shares of the company’s stock, valued at approximately $6,126,776.64. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Randall J. Hogan sold 77,764 shares of nVent Electric stock in a transaction on Monday, May 10th. The stock was sold at an average price of $32.12, for a total transaction of $2,497,779.68. Following the completion of the transaction, the director now owns 250,528 shares in the company, valued at approximately $8,046,959.36. The disclosure for this sale can be found here. Insiders sold 109,660 shares of company stock valued at $3,510,455 over the last quarter. 2.00% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently bought and sold shares of the stock. River & Mercantile Asset Management LLP purchased a new stake in shares of nVent Electric during the fourth quarter valued at approximately $6,024,000. Envestnet Asset Management Inc. increased its position in shares of nVent Electric by 35.7% in the first quarter. Envestnet Asset Management Inc. now owns 93,231 shares of the company’s stock valued at $2,602,000 after acquiring an additional 24,552 shares during the period. Rhumbline Advisers raised its stake in shares of nVent Electric by 5.5% during the first quarter. Rhumbline Advisers now owns 484,777 shares of the company’s stock valued at $13,530,000 after acquiring an additional 25,309 shares during the last quarter. Nuveen Asset Management LLC boosted its holdings in shares of nVent Electric by 273.2% during the fourth quarter. Nuveen Asset Management LLC now owns 2,307,193 shares of the company’s stock worth $53,734,000 after purchasing an additional 1,688,904 shares during the period. Finally, Mcrae Capital Management Inc. bought a new stake in shares of nVent Electric in the first quarter worth about $202,000. Institutional investors and hedge funds own 86.42% of the company’s stock.
About nVent Electric
nVent Electric plc designs, manufactures, markets, installs, and services electrical connection and protection products in the United States, Canada, Western and Eastern Europe included in European Union, China, Eastern Europe not included in European Union, Latin America, the Middle East, Southeast Asia, Australia, and Japan.
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