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

nVent Electric (NYSE:NVT) announced 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%. The business’s revenue was up 9.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.84 earnings per share.

nVent Electric Price Performance

Shares of NYSE NVT traded up $7.31 during trading on Wednesday, hitting $77.07. 2,818,645 shares of the company were exchanged, compared to its average volume of 1,575,989. The company has a market cap of $12.81 billion, a price-to-earnings ratio of 20.46, a PEG ratio of 1.40 and a beta of 1.26. nVent Electric has a 1 year low of $49.28 and a 1 year high of $86.57. The firm’s fifty day moving average price is $69.59 and its 200 day moving average price is $73.09. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.83 and a quick ratio of 1.36.

nVent Electric Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 18th were given a dividend of $0.19 per share. The ex-dividend date of this dividend was Friday, October 18th. This represents a $0.76 annualized dividend and a dividend yield of 0.99%. nVent Electric’s payout ratio is currently 22.29%.

Insiders Place Their Bets

In other nVent Electric news, insider Michael B. Faulconer sold 20,004 shares of the business’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $63.34, for a total transaction 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. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other nVent Electric news, Director Herbert K. Parker acquired 7,566 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were acquired at an average cost of $65.71 per share, for a total transaction of $497,161.86. Following the transaction, the director now directly 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 legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Michael B. Faulconer sold 20,004 shares of the business’s 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 completion of the sale, the insider now owns 19,766 shares in the company, valued at $1,251,978.44. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.50% of the company’s stock.

Wall Street Analysts Forecast Growth

NVT has been the topic of several recent research reports. Royal Bank of Canada dropped their price objective 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 dropped their price objective 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. Finally, KeyCorp boosted 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. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $85.33.

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.