nVent Electric (NYSE:NVT) Releases Earnings Results, Beats Expectations By $0.04 EPS

nVent Electric (NYSE:NVT) issued its quarterly earnings results on Friday. The company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.73 by $0.04, Briefing.com reports. The firm had revenue of $874.60 million during the quarter, compared to the consensus estimate of $864.14 million. nVent Electric had a return on equity of 17.53% and a net margin of 17.38%. nVent Electric’s revenue for the quarter was up 18.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.67 earnings per share.

nVent Electric Price Performance

Shares of nVent Electric stock traded up $3.99 during trading on Friday, hitting $75.89. The stock had a trading volume of 3,015,107 shares, compared to its average volume of 1,525,818. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.82 and a quick ratio of 1.22. The business has a fifty day moving average of $72.22 and a two-hundred day moving average of $61.65. nVent Electric has a fifty-two week low of $40.22 and a fifty-two week high of $78.98. The firm has a market cap of $12.59 billion, a P/E ratio of 22.52, a PEG ratio of 1.55 and a beta of 1.35.

nVent Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Friday, April 26th will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date of this dividend is Thursday, April 25th. nVent Electric’s dividend payout ratio is presently 22.55%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Royal Bank of Canada upped their price target on shares of nVent Electric from $65.00 to $72.00 and gave the company an “outperform” rating in a report on Wednesday, February 7th. Barclays upped their price objective on nVent Electric from $74.00 to $85.00 and gave the company an “overweight” rating in a research note on Tuesday, April 2nd. The Goldman Sachs Group increased their target price on shares of nVent Electric from $69.00 to $77.00 and gave the stock a “buy” rating in a report on Friday, March 15th. Citigroup upped their price objective on nVent Electric from $71.00 to $91.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of nVent Electric in a research note on Monday, March 11th. They set a “buy” rating and a $83.00 target price for the company. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, nVent Electric presently has a consensus rating of “Moderate Buy” and an average target price of $81.60.

Insider Buying and Selling at nVent Electric

In related news, CEO Beth Wozniak sold 198,211 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $64.29, for a total value of $12,742,985.19. Following the sale, the chief executive officer now directly owns 342 shares in the company, valued at approximately $21,987.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Beth Wozniak sold 198,211 shares of the firm’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $64.29, for a total transaction of $12,742,985.19. Following the completion of the sale, the chief executive officer now directly owns 342 shares of the company’s stock, valued at approximately $21,987.18. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Joseph A. Ruzynski sold 2,500 shares of the business’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $64.23, for a total value of $160,575.00. Following the sale, the insider now directly owns 36,013 shares in the company, valued at $2,313,114.99. The disclosure for this sale can be found here. In the last three months, insiders sold 400,252 shares of company stock valued at $25,713,777. 2.50% of the stock is owned by insiders.

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.