nVent Electric plc (NYSE:NVT) Expected to Post Earnings of $0.44 Per Share

Analysts expect nVent Electric plc (NYSE:NVTGet Rating) to post $0.44 earnings per share (EPS) for the current quarter, according to Zacks. Two analysts have issued estimates for nVent Electric’s earnings, with the lowest EPS estimate coming in at $0.43 and the highest estimate coming in at $0.45. nVent Electric reported earnings of $0.43 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 2.3%. The firm is expected to report its next quarterly earnings results before the market opens on Monday, January 1st.

According to Zacks, analysts expect that nVent Electric will report full-year earnings of $2.18 per share for the current year, with EPS estimates ranging from $2.17 to $2.18. For the next financial year, analysts expect that the company will report earnings of $2.36 per share, with EPS estimates ranging from $2.35 to $2.37. Zacks Investment Research’s earnings per share averages are an average based on a survey of analysts that follow nVent Electric.

nVent Electric (NYSE:NVTGet Rating) last posted its quarterly earnings data on Tuesday, February 8th. The company reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.49 by $0.01. nVent Electric had a net margin of 11.08% and a return on equity of 13.35%. The company had revenue of $669.00 million during the quarter, compared to the consensus estimate of $606.40 million. During the same period in the previous year, the firm posted $0.43 EPS. The firm’s revenue was up 28.4% compared to the same quarter last year.

A number of analysts have recently issued reports on NVT shares. Barclays dropped their price objective on shares of nVent Electric from $51.00 to $48.00 and set an “overweight” rating for the company in a report on Wednesday, February 9th. Zacks Investment Research downgraded shares of nVent Electric from a “buy” rating to a “hold” rating in a research note on Wednesday, April 13th. Finally, Vertical Research raised shares of nVent Electric from a “hold” rating to a “buy” rating and set a $45.00 price target for the company in a research note on Monday, January 3rd. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $43.00.

In other news, Director Ronald Merriman sold 3,947 shares of the company’s stock in a transaction dated Monday, March 28th. The shares were sold at an average price of $35.17, for a total transaction of $138,815.99. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.10% of the company’s stock.

Several large investors have recently modified their holdings of the company. Clean Energy Transition LLP purchased a new position in shares of nVent Electric during the fourth quarter valued at about $91,151,000. Norges Bank purchased a new position in shares of nVent Electric during the fourth quarter valued at about $63,562,000. Commerce Bank increased its position in shares of nVent Electric by 18,270.5% during the fourth quarter. Commerce Bank now owns 1,239,088 shares of the company’s stock valued at $47,086,000 after buying an additional 1,232,343 shares during the period. Principal Financial Group Inc. increased its position in shares of nVent Electric by 129.4% during the fourth quarter. Principal Financial Group Inc. now owns 1,863,397 shares of the company’s stock valued at $69,318,000 after buying an additional 1,051,233 shares during the period. Finally, Credit Suisse AG increased its position in shares of nVent Electric by 571.9% during the fourth quarter. Credit Suisse AG now owns 1,065,202 shares of the company’s stock valued at $40,478,000 after buying an additional 906,674 shares during the period. 84.45% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE NVT traded down $0.09 during mid-day trading on Monday, reaching $34.47. 14,268 shares of the company were exchanged, compared to its average volume of 856,161. nVent Electric has a 52 week low of $28.27 and a 52 week high of $39.53. The company has a quick ratio of 0.93, a current ratio of 1.43 and a debt-to-equity ratio of 0.40. The stock has a market cap of $5.73 billion, a PE ratio of 21.47 and a beta of 1.53. The stock has a 50 day moving average of $34.40.

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 6th. Shareholders of record on Friday, April 22nd will be paid a $0.175 dividend. This represents a $0.70 annualized dividend and a yield of 2.03%. The ex-dividend date of this dividend is Thursday, April 21st. nVent Electric’s dividend payout ratio is presently 43.48%.

About nVent Electric (Get Rating)

nVent Electric Plc engages in the provision of electrical connection and protection solutions. It operates through the following segments: Enclosures, Thermal Management, and Electrical & Fastening Solutions. The Enclosures segment offers solutions that protect, connect, and manage heat in critical electronics, communication, control, and power equipment.

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Earnings History and Estimates for nVent Electric (NYSE:NVT)

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