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Aug 31, 2023

Analysts Offer Predictions for nVent Electric plc's Q3 2023 Earnings (NYSE:NVT)

nVent Electric plc (NYSE:NVT - Free Report) - Research analysts at Seaport Res Ptn issued their Q3 2023 earnings estimates for nVent Electric in a research note issued to investors on Monday, August

nVent Electric plc (NYSE:NVT - Free Report) - Research analysts at Seaport Res Ptn issued their Q3 2023 earnings estimates for nVent Electric in a research note issued to investors on Monday, August 7th. Seaport Res Ptn analyst S. Graham forecasts that the company will earn $0.74 per share for the quarter. Seaport Res Ptn currently has a "Neutral" rating on the stock. The consensus estimate for nVent Electric's current full-year earnings is $2.91 per share. Seaport Res Ptn also issued estimates for nVent Electric's Q4 2023 earnings at $0.71 EPS, FY2023 earnings at $2.89 EPS, Q1 2024 earnings at $0.71 EPS, Q2 2024 earnings at $0.79 EPS, Q3 2024 earnings at $0.80 EPS, Q4 2024 earnings at $0.80 EPS, FY2024 earnings at $3.10 EPS, Q1 2025 earnings at $0.79 EPS, Q2 2025 earnings at $0.88 EPS and FY2025 earnings at $3.43 EPS.

NVT has been the subject of several other reports. Royal Bank of Canada increased their price target on nVent Electric from $57.00 to $60.00 and gave the company an "outperform" rating in a research report on Monday, July 31st. The Goldman Sachs Group boosted their target price on shares of nVent Electric from $55.00 to $58.00 in a report on Tuesday, May 30th. Barclays increased their price target on shares of nVent Electric from $55.00 to $69.00 and gave the company an "overweight" rating in a research note on Monday, July 31st. Finally, William Blair began coverage on shares of nVent Electric in a research note on Thursday, July 27th. They set an "outperform" rating on the stock. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $55.25.

Read Our Latest Stock Analysis on NVT

NYSE NVT opened at $54.30 on Thursday. The firm's 50 day moving average is $50.93 and its 200-day moving average is $45.66. The company has a quick ratio of 1.32, a current ratio of 2.09 and a debt-to-equity ratio of 0.67. The company has a market capitalization of $9.00 billion, a PE ratio of 19.96 and a beta of 1.33. nVent Electric has a 12-month low of $30.48 and a 12-month high of $56.34.

nVent Electric (NYSE:NVT - Get Free Report) last posted its quarterly earnings data on Friday, July 28th. The company reported $0.77 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.68 by $0.09. The business had revenue of $803.00 million during the quarter, compared to the consensus estimate of $809.05 million. nVent Electric had a return on equity of 16.85% and a net margin of 15.14%. nVent Electric's quarterly revenue was up 10.3% on a year-over-year basis. During the same period last year, the company earned $0.57 earnings per share.

The business also recently declared a quarterly dividend, which was paid on Friday, August 4th. Investors of record on Friday, July 21st were paid a $0.175 dividend. The ex-dividend date of this dividend was Thursday, July 20th. This represents a $0.70 dividend on an annualized basis and a yield of 1.29%. nVent Electric's dividend payout ratio (DPR) is currently 25.74%.

In other news, CAO Randolph A. Wacker sold 1,519 shares of the company's stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $55.21, for a total value of $83,863.99. Following the transaction, the chief accounting officer now owns 20,366 shares of the company's stock, valued at $1,124,406.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Joseph A. Ruzynski sold 3,200 shares of the stock in a transaction that occurred on Monday, May 22nd. The stock was sold at an average price of $43.41, for a total transaction of $138,912.00. Following the sale, the insider now owns 36,022 shares of the company's stock, valued at $1,563,715.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Randolph A. Wacker sold 1,519 shares of the company's stock in a transaction on Friday, August 4th. The shares were sold at an average price of $55.21, for a total value of $83,863.99. Following the sale, the chief accounting officer now owns 20,366 shares of the company's stock, valued at $1,124,406.86. The disclosure for this sale can be found here. Insiders sold 33,523 shares of company stock worth $1,588,842 over the last three months. Insiders own 2.40% of the company's stock.

A number of hedge funds have recently modified their holdings of the stock. FMR LLC increased its holdings in nVent Electric by 130.5% in the 1st quarter. FMR LLC now owns 3,276,257 shares of the company's stock valued at $140,682,000 after buying an additional 1,854,955 shares during the period. Norges Bank acquired a new position in nVent Electric during the fourth quarter valued at approximately $65,666,000. Artemis Investment Management LLP bought a new stake in nVent Electric during the second quarter worth $45,463,000. Thematics Asset Management acquired a new stake in shares of nVent Electric in the 4th quarter valued at $32,230,000. Finally, Two Sigma Investments LP boosted its holdings in shares of nVent Electric by 2,296.0% in the 4th quarter. Two Sigma Investments LP now owns 647,165 shares of the company's stock valued at $24,896,000 after purchasing an additional 620,155 shares in the last quarter. Institutional investors own 86.38% of the company's stock.

nVent Electric plc designs, manufactures, markets, installs, and services electrical connection and protection products worldwide. The company operates through three segments: Enclosures, Electrical & Fastening Solutions, and Thermal Management. The Enclosures segment provides solutions to connect and protect critical electronics, communication, control, and power equipment; physical infrastructure solutions to host, connect, and protect server and network equipment; indoor and outdoor protection for test and measurement and aerospace and defense applications in industrial, infrastructure, commercial, and energy verticals; and metallic and non-metallic enclosures, cabinets, sub racks, and backplanes.

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