nVent Electric (NYSE:NVT – Get Free Report) announced 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 firm had revenue of $874.60 million for the quarter, compared to the consensus estimate of $864.14 million. During the same period in the prior year, the firm earned $0.67 EPS. The firm’s revenue for the quarter was up 18.0% on a year-over-year basis.
nVent Electric Stock Performance
Shares of NVT traded up $3.99 during mid-day 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 business’s fifty day simple moving average is $72.22 and its 200-day simple moving average is $61.65. The stock has a market capitalization of $12.59 billion, a PE ratio of 22.52, a price-to-earnings-growth ratio of 1.55 and a beta of 1.35. nVent Electric has a 52-week low of $40.22 and a 52-week 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 company also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Friday, April 26th will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date of this dividend is Thursday, April 25th. nVent Electric’s dividend payout ratio is currently 22.55%.
Insiders Place Their Bets
Analysts Set New Price Targets
NVT has been the topic of several analyst reports. Citigroup increased their price objective on nVent Electric from $71.00 to $91.00 and gave the company a “buy” rating in a research note on Monday, April 8th. Royal Bank of Canada lifted 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. Barclays raised their target price on shares of nVent Electric from $74.00 to $85.00 and gave the company an “overweight” rating in a report on Tuesday, April 2nd. The Goldman Sachs Group boosted their price target on shares of nVent Electric from $69.00 to $77.00 and gave the stock a “buy” rating in a report on Friday, March 15th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of nVent Electric in a report on Monday, March 11th. They issued a “buy” rating and a $83.00 price objective on the stock. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $81.60.
Get Our Latest Stock Analysis on nVent Electric
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.
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