nVent Electric (NYSE:NVT) Issues Quarterly Earnings Results

nVent Electric (NYSE:NVT) posted its earnings results on Tuesday. The company reported $0.63 EPS for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.18), Briefing.com reports. nVent Electric had a net margin of 16.95% and a return on equity of 15.66%. The business had revenue of $782.00 million for the quarter, compared to analysts’ expectations of $937.37 million. During the same period last year, the business posted $0.84 EPS. The company’s revenue for the quarter was up 9.4% on a year-over-year basis.

nVent Electric Stock Up 0.1 %

NYSE NVT traded up $0.07 during trading on Thursday, hitting $77.14. The company’s stock had a trading volume of 1,199,379 shares, compared to its average volume of 1,574,248. nVent Electric has a fifty-two week low of $49.90 and a fifty-two week high of $86.57. 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 company has a market cap of $12.71 billion, a PE ratio of 22.60, a P/E/G ratio of 1.83 and a beta of 1.26. The business’s 50 day simple moving average is $69.83 and its 200-day simple moving average is $73.12.

nVent Electric Announces Dividend

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

Wall Street Analyst Weigh In

NVT has been the topic of several research reports. Barclays cut their price objective on shares of 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 cut their price target on nVent Electric from $82.00 to $80.00 and set an “outperform” rating on the stock in a report on Monday. Finally, KeyCorp upped their price objective on nVent Electric from $80.00 to $84.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $85.33.

Insider Activity at nVent Electric

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

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.