nVent Electric (NYSE:NVT) Issues Quarterly Earnings Results, Misses Expectations By $0.18 EPS

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

nVent Electric Stock Performance

Shares of NYSE NVT opened at $77.79 on Friday. The company has a quick ratio of 1.36, a current ratio of 1.83 and a debt-to-equity ratio of 0.68. The firm’s 50-day moving average price is $69.83 and its two-hundred day moving average price is $73.12. nVent Electric has a 52-week low of $49.90 and a 52-week high of $86.57. The stock has a market capitalization of $12.82 billion, a P/E ratio of 22.81, a P/E/G ratio of 1.83 and a beta of 1.26.

nVent Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 18th were issued a $0.19 dividend. The ex-dividend date was Friday, October 18th. This represents a $0.76 dividend on an annualized basis and a yield of 0.98%. nVent Electric’s dividend payout ratio is currently 22.29%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on NVT. KeyCorp lifted their price target on shares of 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 dropped their price target on shares of nVent Electric from $82.00 to $80.00 and set an “outperform” rating on the stock in a research note on Monday. Finally, Barclays dropped their price target on shares of nVent Electric from $87.00 to $86.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 2nd. Six analysts have rated the stock with a buy rating, According to MarketBeat, nVent Electric currently has a consensus rating of “Buy” and an average price target of $85.33.

Insiders Place Their Bets

In other nVent Electric news, insider Michael B. Faulconer sold 20,004 shares of the firm’s 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 owns 19,766 shares of the company’s stock, valued at $1,251,978.44. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, insider Michael B. Faulconer sold 20,004 shares of nVent Electric stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $63.34, for a total transaction 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. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Jon D. Lammers sold 67,297 shares of nVent Electric stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $76.07, for a total transaction of $5,119,282.79. Following the completion of the transaction, the executive vice president now directly owns 58,121 shares in the company, valued at $4,421,264.47. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 95,323 shares of company stock valued at $6,994,965 over the last quarter. Insiders own 2.50% of the company’s stock.

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.