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

nVent Electric (NYSE:NVT) issued its earnings results on Tuesday. The company reported $0.63 EPS for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.18), Briefing.com reports. The business had revenue of $782.00 million during the quarter, compared to analyst estimates of $937.37 million. nVent Electric had a net margin of 16.95% and a return on equity of 15.66%. nVent Electric’s quarterly revenue 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 Trading Up 0.9 %

NYSE NVT traded up $0.72 on Thursday, reaching $77.79. The stock had a trading volume of 3,224,314 shares, compared to its average volume of 1,583,623. 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 stock has a fifty day moving average price of $69.83 and a two-hundred day moving average price of $73.12. nVent Electric has a 12-month low of $49.90 and a 12-month high of $86.57. The firm has a market capitalization of $12.82 billion, a price-to-earnings ratio of 22.81, a P/E/G ratio of 1.83 and a beta of 1.26.

nVent Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors 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 annualized dividend and a yield of 0.98%. nVent Electric’s dividend payout ratio (DPR) is currently 22.29%.

Analyst Upgrades and Downgrades

NVT has been the topic of a number of research reports. Royal Bank of Canada decreased their target price 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. Barclays reduced their price target on nVent Electric from $87.00 to $86.00 and set an “overweight” rating on the stock in a report on Wednesday, October 2nd. Finally, KeyCorp upped their price objective 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, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $85.33.

Insider Transactions at nVent Electric

In other nVent Electric news, EVP Jon D. Lammers sold 67,297 shares of nVent Electric stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $76.07, for a total value of $5,119,282.79. Following the completion of the transaction, the executive vice president now directly owns 58,121 shares of the company’s stock, valued at $4,421,264.47. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, insider Michael B. Faulconer sold 20,004 shares of the stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $63.34, for a total value of $1,267,053.36. Following the sale, the insider now directly owns 19,766 shares in the company, valued at approximately $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 Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Jon D. Lammers sold 67,297 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $76.07, for a total value of $5,119,282.79. Following the transaction, the executive vice president now directly owns 58,121 shares of the company’s stock, valued at $4,421,264.47. The trade was 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 ninety days. Company 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.