nVent Electric (NYSE:NVT) Announces Earnings Results, Beats Estimates By $0.04 EPS

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

nVent Electric Stock Up 5.5 %

Shares of NYSE NVT traded up $3.99 during midday trading on Friday, hitting $75.89. 3,015,107 shares of the company’s stock were exchanged, compared to its average volume of 1,525,818. The firm’s fifty day simple moving average is $72.22 and its 200-day simple moving average is $61.65. The company 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. nVent Electric has a twelve month low of $40.22 and a twelve month high of $78.98. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.82 and a quick ratio of 1.22.

nVent Electric Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on NVT shares. Royal Bank of Canada upped their target price on shares of nVent Electric from $65.00 to $72.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 7th. Citigroup upped their price objective on nVent Electric from $71.00 to $91.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. Deutsche Bank Aktiengesellschaft initiated coverage on nVent Electric in a report on Monday, March 11th. They issued a “buy” rating and a $83.00 target price for the company. Barclays upped their price target on 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 lifted their price objective on nVent Electric from $69.00 to $77.00 and gave the company a “buy” rating in a research note on Friday, March 15th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, nVent Electric currently has a consensus rating of “Moderate Buy” and a consensus price target of $81.60.

Insider Activity

In related news, Director Jerry W. Burris sold 4,008 shares of nVent Electric stock in a transaction on Friday, February 16th. The shares were sold at an average price of $63.39, for a total transaction of $254,067.12. Following the sale, the director now directly owns 43,072 shares in the company, valued at approximately $2,730,334.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Jerry W. Burris sold 4,008 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $63.39, for a total transaction of $254,067.12. Following the transaction, the director now owns 43,072 shares in the company, valued at approximately $2,730,334.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Beth Wozniak sold 198,211 shares of nVent Electric stock in a transaction that occurred on Thursday, February 8th. The stock was 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 directly owns 342 shares in the company, valued at approximately $21,987.18. The disclosure for this sale can be found here. In the last quarter, insiders sold 400,252 shares of company stock worth $25,713,777. Corporate insiders own 2.50% of the company’s stock.

About nVent Electric

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.