nVent Electric (NYSE:NVT) Issues Quarterly Earnings Results

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

nVent Electric Stock Performance

NVT traded up $0.72 on Thursday, reaching $77.79. 3,224,314 shares of the stock were exchanged, compared to its average volume of 1,583,623. The company’s 50-day moving average price is $69.83 and its 200 day moving average price is $73.12. 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 firm has a market capitalization of $12.82 billion, a PE ratio of 22.81, a PEG ratio of 1.83 and a beta of 1.26. nVent Electric has a fifty-two week low of $49.90 and a fifty-two week high of $86.57.

nVent Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 18th were issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date of this dividend was Friday, October 18th. nVent Electric’s dividend payout ratio (DPR) is presently 22.29%.

Insider Transactions at nVent Electric

In related news, CAO Randolph A. Wacker sold 8,022 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $75.87, for a total transaction of $608,629.14. Following the completion of the transaction, the chief accounting officer now owns 25,993 shares of the company’s stock, valued at $1,972,088.91. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director Herbert K. Parker acquired 7,566 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was acquired at an average price of $65.71 per share, for a total transaction of $497,161.86. Following the completion of the transaction, the director now owns 34,524 shares in the company, valued at approximately $2,268,572.04. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Randolph A. Wacker sold 8,022 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $75.87, for a total value of $608,629.14. Following the sale, the chief accounting officer now owns 25,993 shares in the company, valued at $1,972,088.91. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 95,323 shares of company stock worth $6,994,965 over the last three months. 2.50% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on NVT. Barclays lowered their price target on nVent Electric from $87.00 to $86.00 and set an “overweight” rating for the company in a research report on Wednesday, October 2nd. Royal Bank of Canada lowered their target price on shares of nVent Electric from $82.00 to $80.00 and set an “outperform” rating for the company in a report on Monday. Finally, KeyCorp upped their price target on shares of nVent Electric from $80.00 to $84.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $85.33.

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.