nVent Electric (NVT) Projected to Post Earnings on Thursday

nVent Electric (NYSE:NVT) will likely be releasing its earnings data before the market opens on Thursday, February 6th. Analysts expect nVent Electric to post earnings of $0.59 per share and revenue of $768.24 million for the quarter. Individual interested in participating in the company’s earnings conference call can do so using this link.

nVent Electric (NYSE:NVT) last announced its quarterly earnings data on Tuesday, November 5th. The company reported $0.63 EPS for the quarter, missing the consensus estimate of $0.81 by ($0.18). nVent Electric had a net margin of 16.95% and a return on equity of 15.66%. The business had revenue of $782.00 million during the quarter, compared to analysts’ expectations of $937.37 million. During the same quarter in the previous year, the firm earned $0.84 earnings per share. nVent Electric’s revenue was up 9.4% on a year-over-year basis. On average, analysts expect nVent Electric to post $2 EPS for the current fiscal year and $3 EPS for the next fiscal year.

nVent Electric Price Performance

Shares of nVent Electric stock opened at $63.23 on Tuesday. The stock’s 50-day simple moving average is $71.97 and its 200-day simple moving average is $70.60. nVent Electric has a 52 week low of $56.44 and a 52 week high of $86.57. The company has a market capitalization of $10.42 billion, a price-to-earnings ratio of 18.54, a PEG ratio of 3.02 and a beta of 1.26. The company has a quick ratio of 1.36, a current ratio of 1.83 and a debt-to-equity ratio of 0.68.

nVent Electric Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, January 17th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.27%. This is an increase from nVent Electric’s previous quarterly dividend of $0.19. The ex-dividend date is Friday, January 17th. nVent Electric’s payout ratio is presently 23.46%.

Insider Buying and Selling

In other news, Director Jerry W. Burris sold 6,558 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $80.00, for a total transaction of $524,640.00. Following the sale, the director now directly owns 45,040 shares in the company, valued at $3,603,200. This trade represents a 12.71 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Randolph A. Wacker sold 8,022 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $75.87, for a total value of $608,629.14. Following the sale, the chief accounting officer now owns 25,993 shares in the company, valued at $1,972,088.91. This trade represents a 23.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 96,382 shares of company stock worth $7,365,956 in the last 90 days. Insiders own 2.50% of the company’s stock.

Analysts Set New Price Targets

NVT has been the topic of a number of research analyst reports. KeyCorp boosted their target price on nVent Electric from $80.00 to $84.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Royal Bank of Canada boosted their target price on nVent Electric from $80.00 to $85.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Barclays boosted their target price on nVent Electric from $76.00 to $88.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Finally, Citigroup decreased their target price on nVent Electric from $91.00 to $90.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $86.17.

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.