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

nVent Electric (NYSE:NVT) updated its fourth quarter 2024 earnings guidance on Friday. 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.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on NVT shares. Royal Bank of Canada decreased their price objective on nVent Electric from $88.00 to $82.00 and set an “outperform” rating for the company in a report on Wednesday, August 7th. Barclays decreased their price target on shares of nVent Electric from $87.00 to $86.00 and set an “overweight” rating for the company in a research note on Wednesday, October 2nd. Finally, KeyCorp boosted their price objective on shares of nVent Electric from $80.00 to $84.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $85.67.

nVent Electric Stock Performance

Shares of NYSE NVT opened at $74.44 on Friday. The stock 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 52 week low of $47.08 and a 52 week high of $86.57. The stock has a 50 day moving average price of $69.45 and a 200 day moving average price of $73.16. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.49 and a current ratio of 2.17.

nVent Electric (NYSE:NVT) last released its earnings results 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). nVent Electric had a net margin of 16.59% and a return on equity of 17.21%. The firm had revenue of $880.30 million during the quarter, compared to the consensus estimate of $892.89 million. During the same period in the prior year, the business posted $0.77 earnings per share. nVent Electric’s quarterly revenue was up 9.6% compared to the same quarter last year. Analysts predict that nVent Electric will post 3.26 earnings per share for the current fiscal year.

nVent Electric Dividend Announcement

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

Insiders Place Their Bets

In other news, EVP Lynnette R. Heath sold 8,242 shares of the firm’s stock in a transaction that occurred 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 sale, the executive vice president now directly owns 30,432 shares of the company’s stock, valued at $1,833,832.32. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. In other nVent Electric news, insider Michael B. Faulconer sold 20,004 shares of the stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $63.34, for a total value of $1,267,053.36. Following the transaction, the insider now directly owns 19,766 shares of the company’s stock, valued at $1,251,978.44. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Lynnette R. Heath sold 8,242 shares of the business’s stock in a transaction that occurred 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 sale, the executive vice president now owns 30,432 shares of the company’s stock, valued at approximately $1,833,832.32. This represents a 0.00 % decrease in their position. The disclosure for this sale 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.