nVent Electric (NYSE:NVT) Issues 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.

nVent Electric Price Performance

Shares of NVT traded up $0.51 during trading hours on Monday, reaching $68.79. 3,563,321 shares of the company traded hands, compared to its average volume of 1,567,538. 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 stock has a market capitalization of $11.43 billion, a PE ratio of 20.11, a price-to-earnings-growth ratio of 1.52 and a beta of 1.26. nVent Electric has a fifty-two week low of $49.08 and a fifty-two week high of $86.57. The stock has a fifty day simple moving average of $69.47 and a 200 day simple moving average of $73.12.

nVent Electric (NYSE:NVT) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.82 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.01). nVent Electric had a return on equity of 17.21% and a net margin of 16.59%. The business had revenue of $880.30 million during the quarter, compared to analyst estimates of $892.89 million. During the same period in the previous year, the business posted $0.77 earnings per share. The firm’s quarterly revenue was up 9.6% on a year-over-year basis. As a group, research analysts predict that nVent Electric will post 3.26 EPS for the current fiscal year.

nVent Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 18th were paid a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 1.10%. The ex-dividend date of this dividend was Friday, October 18th. nVent Electric’s dividend payout ratio is currently 22.22%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Royal Bank of Canada dropped their target price on nVent Electric from $82.00 to $80.00 and set an “outperform” rating on the stock in a report on Monday. KeyCorp raised their target price on nVent Electric from $80.00 to $84.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Finally, Barclays dropped their target price on nVent Electric from $87.00 to $86.00 and set an “overweight” rating on the stock in a report on Wednesday, October 2nd. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $85.33.

Insiders Place Their Bets

In other nVent Electric news, EVP Lynnette R. Heath sold 8,242 shares of the business’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 completion of the transaction, the executive vice president now owns 30,432 shares in the company, valued at approximately $1,833,832.32. 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. In other news, Director Herbert K. Parker acquired 7,566 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were bought at an average price of $65.71 per share, with a total value of $497,161.86. Following the purchase, the director now owns 34,524 shares of the company’s stock, valued at approximately $2,268,572.04. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Lynnette R. Heath sold 8,242 shares of the business’s stock in a transaction 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 directly owns 30,432 shares in the company, valued at $1,833,832.32. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.50% of the stock is currently owned by insiders.

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.