Q2 2023 EPS Estimates for nVent Electric plc (NYSE:NVT) Boosted by Analyst

Posted by Defense World Staff on May 4th, 2023

nVent Electric plc (NYSE:NVT – Get Rating) – Analysts at KeyCorp increased their Q2 2023 earnings per share estimates for nVent Electric in a research note issued to investors on Sunday, April 30th. KeyCorp analyst J. Hammond now anticipates that the company will post earnings of $0.68 per share for the quarter, up from their previous estimate of $0.64. The consensus estimate for nVent Electric’s current full-year earnings is $2.69 per share. KeyCorp also issued estimates for nVent Electric’s Q3 2023 earnings at $0.71 EPS, Q4 2023 earnings at $0.69 EPS, FY2023 earnings at $2.75 EPS and FY2024 earnings at $2.95 EPS.

A number of other equities analysts also recently commented on NVT. Barclays upped their target price on nVent Electric from $53.00 to $55.00 in a report on Monday. Royal Bank of Canada decreased their target price on nVent Electric from $52.00 to $50.00 in a report on Monday.

nVent Electric Price Performance

Shares of nVent Electric stock opened at $42.44 on Wednesday. The company has a quick ratio of 1.36, a current ratio of 1.89 and a debt-to-equity ratio of 0.39. The company has a market cap of $7.02 billion, a PE ratio of 16.77 and a beta of 1.31. The business has a 50 day moving average of $43.30 and a 200 day moving average of $40.55. nVent Electric has a 52 week low of $29.19 and a 52 week high of $46.66.

nVent Electric (NYSE:NVT – Get Rating) last announced its earnings results on Friday, April 28th. The company reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.10. The company had revenue of $741.00 million during the quarter, compared to the consensus estimate of $740.70 million. nVent Electric had a return on equity of 15.38% and a net margin of 13.74%. The firm’s revenue for the quarter was up 6.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.50 earnings per share.

nVent Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 12th. Shareholders of record on Friday, April 28th will be issued a $0.175 dividend. The ex-dividend date of this dividend is Thursday, April 27th. This represents a $0.70 dividend on an annualized basis and a yield of 1.65%. nVent Electric’s dividend payout ratio (DPR) is 27.67%.

Insiders Place Their Bets

In other news, insider Joseph A. Ruzynski sold 3,500 shares of the firm’s stock in a transaction on Monday, February 13th. The stock was sold at an average price of $45.07, for a total transaction of $157,745.00. Following the completion of the transaction, the insider now directly owns 22,130 shares in the company, valued at $997,399.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.40% of the stock is owned by corporate insiders.

Institutional Trading of nVent Electric

Several institutional investors have recently bought and sold shares of NVT. Raymond James Financial Services Advisors Inc. lifted its stake in shares of 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 worth $383,000 after buying an additional 923 shares in the last quarter. AlphaCrest Capital Management LLC lifted its position in nVent Electric by 36.8% in the 1st quarter. AlphaCrest Capital Management LLC now owns 11,498 shares of the company’s stock valued at $400,000 after acquiring an additional 3,093 shares in the last quarter. Natixis Advisors L.P. raised its stake in shares of nVent Electric by 15.4% in the first quarter. Natixis Advisors L.P. now owns 43,511 shares of the company’s stock worth $1,514,000 after purchasing an additional 5,807 shares during the last quarter. Bank of Montreal Can lifted its holdings 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 in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of nVent Electric by 10.5% during 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 buying an additional 5,879 shares during the last quarter. 87.12% of the stock is owned by hedge funds and other institutional investors.

About nVent Electric

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nVent Electric Plc engages in the provision of electrical connection and protection solutions. It operates through the following segments: Enclosures, Thermal Management, and Electrical & Fastening Solutions. The Enclosures segment offers solutions that protect, connect, and manage heat in critical electronics, communication, control, and power equipment.