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

nVent Electric (NYSE:NVT) updated its fourth quarter 2024 earnings guidance on Friday. The company provided earnings per share (EPS) guidance of 0.580-0.600 for the period, compared to the consensus 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 Trading Up 0.7 %

Shares of NVT stock traded up $0.51 during mid-day trading on Monday, reaching $68.79. The company’s stock had a trading volume of 3,563,321 shares, 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 firm 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. The company’s 50 day simple moving average is $69.47 and its 200-day simple moving average is $73.12. nVent Electric has a 12-month low of $49.08 and a 12-month high of $86.57.

nVent Electric (NYSE:NVT) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.82 EPS 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 company had revenue of $880.30 million during the quarter, compared to analysts’ expectations of $892.89 million. During the same period last year, the business earned $0.77 earnings per share. The company’s revenue for the quarter was up 9.6% compared to the same quarter last year. On average, research analysts predict that nVent Electric will post 3.26 EPS for the current fiscal year.

nVent Electric Announces Dividend

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

Analyst Ratings Changes

NVT has been the topic of a number of analyst reports. KeyCorp lifted their price objective on shares of nVent Electric from $80.00 to $84.00 and gave the company 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 decreased their price objective on shares of nVent Electric from $87.00 to $86.00 and set an “overweight” rating for the company in a research report on Wednesday, October 2nd. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $85.33.

Insider Transactions at nVent Electric

In other news, insider Michael B. Faulconer sold 20,004 shares of the business’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 completion of the sale, the insider now owns 19,766 shares of the company’s stock, valued at approximately $1,251,978.44. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Michael B. Faulconer sold 20,004 shares of nVent Electric stock in a transaction that occurred 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 completion of the transaction, the insider now owns 19,766 shares in the company, valued at approximately $1,251,978.44. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Lynnette R. Heath sold 8,242 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The shares were 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 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 disclosure for this sale can be found here. Corporate 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.