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.
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