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

nVent Electric (NYSE:NVT) issued an update on its fourth quarter 2024 earnings guidance on Friday morning. The company provided EPS guidance of 0.580-0.600 for the period, compared to the consensus EPS 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.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on NVT shares. KeyCorp boosted 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. Royal Bank of Canada reduced their price target on shares of nVent Electric from $88.00 to $82.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 7th. Finally, Barclays lowered their price objective on shares of nVent Electric from $87.00 to $86.00 and set an “overweight” rating for the company in a research report on Wednesday, October 2nd. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $85.67.

nVent Electric Trading Down 0.2 %

Shares of NVT opened at $74.44 on Friday. The stock’s fifty day simple moving average is $69.45 and its 200-day simple moving average is $73.16. The company has a quick ratio of 1.49, a current ratio of 2.17 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $12.37 billion, a PE ratio of 21.77, a price-to-earnings-growth ratio of 1.52 and a beta of 1.27. nVent Electric has a 12-month low of $47.08 and a 12-month high of $86.57.

nVent Electric (NYSE:NVT) last announced 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 business had revenue of $880.30 million during the quarter, compared to analyst estimates of $892.89 million. nVent Electric had a net margin of 16.59% and a return on equity of 17.21%. The company’s quarterly revenue was up 9.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.77 earnings per share. As a group, research analysts predict that nVent Electric will post 3.26 earnings per share for the current year.

nVent Electric Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 18th will be paid a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 1.02%. The ex-dividend date is Friday, October 18th. nVent Electric’s payout ratio is 22.22%.

Insiders Place Their Bets

In other news, EVP Lynnette R. Heath sold 8,242 shares of the company’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 completion of the sale, the executive vice president now directly owns 30,432 shares of the company’s stock, valued at $1,833,832.32. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, EVP Lynnette R. Heath sold 8,242 shares of the firm’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $60.26, for a total transaction of $496,662.92. Following the sale, the executive vice president now owns 30,432 shares of the company’s stock, valued at approximately $1,833,832.32. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a 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 shares were acquired at an average cost of $65.71 per share, for a total transaction of $497,161.86. Following the transaction, 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 ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 2.50% of the company’s stock.

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.