Blog

Aug 28, 2023

nVent Electric plc Expected to Post FY2023 Earnings of $2.94 Per Share (NYSE:NVT)

nVent Electric plc (NYSE:NVT - Free Report) - Research analysts at KeyCorp upped their FY2023 EPS estimates for shares of nVent Electric in a report released on Sunday, July 30th. KeyCorp analyst J.

nVent Electric plc (NYSE:NVT - Free Report) - Research analysts at KeyCorp upped their FY2023 EPS estimates for shares of nVent Electric in a report released on Sunday, July 30th. KeyCorp analyst J. Hammond now expects that the company will post earnings per share of $2.94 for the year, up from their prior forecast of $2.85. The consensus estimate for nVent Electric's current full-year earnings is $2.85 per share. KeyCorp also issued estimates for nVent Electric's FY2024 earnings at $3.25 EPS.

A number of other research firms have also recently weighed in on NVT. The Goldman Sachs Group increased their price objective on nVent Electric from $55.00 to $58.00 in a research report on Tuesday, May 30th. Barclays lifted their target price on shares of nVent Electric from $55.00 to $69.00 and gave the company an "overweight" rating in a report on Monday. William Blair began coverage on shares of nVent Electric in a report on Thursday, July 27th. They set an "outperform" rating for the company. Finally, Royal Bank of Canada boosted their target price on shares of nVent Electric from $57.00 to $60.00 and gave the stock an "outperform" rating in a research report on Monday.

Shares of nVent Electric stock opened at $52.88 on Tuesday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.32 and a current ratio of 2.09. The company has a market capitalization of $8.76 billion, a P/E ratio of 19.44 and a beta of 1.34. nVent Electric has a 1 year low of $30.48 and a 1 year high of $55.61. The company's fifty day moving average is $49.31 and its two-hundred day moving average is $44.93.

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

Several institutional investors have recently bought and sold shares of NVT. Raymond James Financial Services Advisors Inc. raised its position in nVent Electric by 9.2% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 10,999 shares of the company's stock valued at $383,000 after purchasing an additional 923 shares during the period. AlphaCrest Capital Management LLC boosted its holdings in nVent Electric by 36.8% in the 1st quarter. AlphaCrest Capital Management LLC now owns 11,498 shares of the company's stock worth $400,000 after acquiring an additional 3,093 shares during the period. Natixis Advisors L.P. grew its position in nVent Electric by 15.4% in the first quarter. Natixis Advisors L.P. now owns 43,511 shares of the company's stock valued at $1,514,000 after acquiring an additional 5,807 shares in the last quarter. Bank of Montreal Can raised its stake in shares of nVent Electric by 10.6% during the first quarter. Bank of Montreal Can now owns 21,601 shares of the company's stock valued at $768,000 after purchasing an additional 2,072 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in shares of nVent Electric by 10.5% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 61,657 shares of the company's stock valued at $2,144,000 after purchasing an additional 5,879 shares during the period. 86.38% of the stock is currently owned by hedge funds and other institutional investors.

In related news, CEO Beth Wozniak sold 10,028 shares of the firm's stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $46.00, for a total transaction of $461,288.00. Following the sale, the chief executive officer now owns 82,478 shares in the company, valued at $3,793,988. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CEO Beth Wozniak sold 10,028 shares of the business's stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $46.00, for a total transaction of $461,288.00. Following the completion of the sale, the chief executive officer now directly owns 82,478 shares of the company's stock, valued at approximately $3,793,988. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Sara E. Zawoyski sold 2,649 shares of nVent Electric stock in a transaction on Monday, June 26th. The shares were sold at an average price of $50.00, for a total value of $132,450.00. Following the completion of the transaction, the chief financial officer now owns 64,410 shares in the company, valued at approximately $3,220,500. The disclosure for this sale can be found here. Insiders sold a total of 27,293 shares of company stock worth $1,247,474 over the last ninety days. 2.40% of the stock is currently owned by corporate insiders.

The company also recently declared a quarterly dividend, which will be paid on Friday, August 4th. Stockholders of record on Friday, July 21st will be issued a dividend of $0.175 per share. The ex-dividend date is Thursday, July 20th. This represents a $0.70 dividend on an annualized basis and a dividend yield of 1.32%. nVent Electric's dividend payout ratio (DPR) is presently 25.74%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].

Before you consider nVent Electric, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and nVent Electric wasn't on the list.

While nVent Electric currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

Need to stretch out your 401K or Roth IRA plan? Use these time-tested investing strategies to grow the monthly retirement income that your stock portfolio generates.

Sign up for MarketBeat All Access to gain access to MarketBeat's full suite of research tools:

View the latest news, buy/sell ratings, SEC filings and insider transactions for your stocks. Compare your portfolio performance to leading indices and get personalized stock ideas based on your portfolio.

Get daily stock ideas from top-performing Wall Street analysts. Get short term trading ideas from the MarketBeat Idea Engine. View which stocks are hot on social media with MarketBeat's trending stocks report.

Identify stocks that meet your criteria using seven unique stock screeners. See what's happening in the market right now with MarketBeat's real-time news feed. Export data to Excel for your own analysis.