nVent Electric (NYSE:NVT) Issues Earnings Results

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

nVent Electric Stock Performance

NVT stock traded up $3.99 during trading on Friday, reaching $75.89. 3,015,107 shares of the company’s stock were exchanged, compared to its average volume of 1,525,818. The firm has a market cap of $12.59 billion, a PE ratio of 22.52, a P/E/G ratio of 1.55 and a beta of 1.35. The company has a quick ratio of 1.22, a current ratio of 1.82 and a debt-to-equity ratio of 0.56. nVent Electric has a 1-year low of $40.22 and a 1-year high of $78.98. The company’s fifty day moving average price is $72.22 and its 200-day moving average price is $61.65.

nVent Electric Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Friday, April 26th will be given a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 1.00%. The ex-dividend date is Thursday, April 25th. nVent Electric’s dividend payout ratio is currently 22.55%.

Insider Activity at nVent Electric

In related news, insider Joseph A. Ruzynski sold 2,500 shares of the company’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $64.23, for a total value of $160,575.00. Following the completion of the sale, the insider now owns 36,013 shares of the company’s stock, valued at $2,313,114.99. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other nVent Electric news, insider Joseph A. Ruzynski sold 2,500 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 36,013 shares in the company, valued at $2,313,114.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Beth Wozniak sold 198,211 shares of nVent Electric stock in a transaction 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 transaction, the chief executive officer now owns 342 shares in the company, valued at $21,987.18. The disclosure for this sale can be found here. Insiders have sold a total of 400,252 shares of company stock worth $25,713,777 over the last ninety days. 2.50% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

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

nVent Electric Company Profile

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.