nVent Electric (NYSE:NVT) Posts Quarterly Earnings Results, Meets Estimates

nVent Electric (NYSE:NVT) released its quarterly earnings results on Thursday. The company reported $0.44 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.44, Morningstar.com reports. The business had revenue of $539.50 million during the quarter, compared to the consensus estimate of $550.75 million. nVent Electric had a return on equity of 11.69% and a net margin of 11.43%. The firm’s quarterly revenue was down .6% on a year-over-year basis. During the same period in the previous year, the company posted $0.44 EPS.

NVT traded down $1.02 during trading on Friday, hitting $21.57. The stock had a trading volume of 2,070,727 shares, compared to its average volume of 1,162,112. The stock has a 50 day simple moving average of $24.56. The company has a market capitalization of $3.95 billion, a price-to-earnings ratio of 12.40 and a beta of 1.54. The company has a current ratio of 1.87, a quick ratio of 1.22 and a debt-to-equity ratio of 0.41. nVent Electric has a one year low of $19.71 and a one year high of $29.84.

The company also recently declared a quarterly dividend, which was paid on Friday, August 2nd. Investors of record on Friday, July 19th were paid a $0.175 dividend. The ex-dividend date of this dividend was Thursday, July 18th. This represents a $0.70 annualized dividend and a yield of 3.25%. nVent Electric’s dividend payout ratio (DPR) is presently 40.23%.

Several analysts recently issued reports on the company. ValuEngine downgraded nVent Electric from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 11th. Vertical Research downgraded nVent Electric from a “buy” rating to a “hold” rating in a research note on Thursday. Buckingham Research set a $31.00 price target on nVent Electric and gave the company a “buy” rating in a research note on Friday, April 26th. Finally, Zacks Investment Research downgraded nVent Electric from a “hold” rating to a “sell” rating in a research note on Saturday. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $29.40.

In related news, Director Michael L. Ducker bought 2,000 shares of the business’s stock in a transaction dated Wednesday, May 22nd. The stock was purchased at an average cost of $24.07 per share, for a total transaction of $48,140.00. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Trian Fund Management, L.P. sold 3,000,000 shares of the company’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $24.53, for a total value of $73,590,000.00. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company’s stock.

Several large investors have recently added to or reduced their stakes in NVT. Thrivent Financial for Lutherans increased its stake in nVent Electric by 5.9% during the fourth quarter. Thrivent Financial for Lutherans now owns 41,372 shares of the company’s stock worth $929,000 after acquiring an additional 2,320 shares during the last quarter. Legal & General Group Plc boosted its position in shares of nVent Electric by 10.0% in the fourth quarter. Legal & General Group Plc now owns 690,783 shares of the company’s stock worth $15,515,000 after buying an additional 63,047 shares during the period. Macquarie Group Ltd. boosted its position in shares of nVent Electric by 40.2% in the fourth quarter. Macquarie Group Ltd. now owns 197,230 shares of the company’s stock worth $4,429,000 after buying an additional 56,550 shares during the period. HRT Financial LLC purchased a new stake in shares of nVent Electric in the fourth quarter worth about $213,000. Finally, Norges Bank purchased a new stake in shares of nVent Electric in the fourth quarter worth about $45,331,000. Hedge funds and other institutional investors own 86.08% of the company’s stock.

About nVent Electric

nVent Electric plc designs, manufactures, markets, installs, and services electrical connection and protection products in the United States, Canada, Mexico, Europe, the Middle East, Africa, and internationally. The company operates through three segments: Enclosures, Thermal Management, and Electrical & Fastening Solutions.

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Earnings History for nVent Electric (NYSE:NVT)

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