nVent Electric (NYSE:NVT) Announces Earnings Results

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

nVent Electric Stock Performance

NVT traded down $0.54 on Friday, hitting $77.25. 465,433 shares of the company’s stock were exchanged, compared to its average volume of 1,578,495. The company has a current ratio of 1.83, a quick ratio of 1.36 and a debt-to-equity ratio of 0.68. The stock has a fifty day moving average of $69.83 and a two-hundred day moving average of $73.12. nVent Electric has a twelve month low of $49.93 and a twelve month high of $86.57. The firm has a market cap of $12.73 billion, a PE ratio of 22.81, a P/E/G ratio of 1.83 and a beta of 1.26.

nVent Electric Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 18th were given 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 was Friday, October 18th. nVent Electric’s dividend payout ratio is presently 22.29%.

Insider Activity

In other news, EVP Jon D. Lammers sold 67,297 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $76.07, for a total transaction of $5,119,282.79. Following the sale, the executive vice president now directly owns 58,121 shares in the company, valued at approximately $4,421,264.47. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Jon D. Lammers sold 67,297 shares of nVent Electric stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $76.07, for a total value of $5,119,282.79. Following the sale, the executive vice president now directly owns 58,121 shares in the company, valued at $4,421,264.47. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Michael B. Faulconer sold 20,004 shares of the company’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 transaction, the insider now owns 19,766 shares of the company’s stock, valued at approximately $1,251,978.44. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 95,323 shares of company stock valued at $6,994,965. 2.50% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research firms recently issued reports on NVT. Royal Bank of Canada cut their price target on shares of nVent Electric from $82.00 to $80.00 and set an “outperform” rating on the stock in a report on Monday. KeyCorp upped their target price 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. Finally, Barclays reduced their price target on shares of nVent Electric from $87.00 to $86.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 2nd. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus 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.