nVent Electric (NVT) Announces Earnings Results
nVent Electric (NYSE:NVT) posted its quarterly earnings data on Thursday. The company reported $0.39 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.38 by $0.01, Bloomberg Earnings reports. The firm had revenue of $538.00 million for the quarter, compared to the consensus estimate of $546.43 million. nVent Electric had a net margin of 10.43% and a return on equity of 10.08%. nVent Electric’s quarterly revenue was down .2% compared to the same quarter last year.
NVT opened at $27.61 on Friday. The company has a current ratio of 1.83, a quick ratio of 1.34 and a debt-to-equity ratio of 0.35. The firm has a market cap of $4.90 billion and a price-to-earnings ratio of 15.87. nVent Electric has a 1 year low of $19.71 and a 1 year high of $29.84.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 3rd. Shareholders of record on Thursday, April 18th will be issued a dividend of $0.175 per share. This represents a $0.70 dividend on an annualized basis and a yield of 2.54%. The ex-dividend date of this dividend is Wednesday, April 17th. nVent Electric’s dividend payout ratio is 40.23%.
Several large investors have recently modified their holdings of NVT. Standard Life Aberdeen plc purchased a new position in shares of nVent Electric in the 3rd quarter worth about $389,000. JPMorgan Chase & Co. boosted its holdings in shares of nVent Electric by 31.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 214,555 shares of the company’s stock worth $5,828,000 after buying an additional 51,761 shares during the last quarter. Jane Street Group LLC purchased a new position in shares of nVent Electric in the 3rd quarter worth about $520,000. The Manufacturers Life Insurance Company boosted its holdings in shares of nVent Electric by 7.4% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 278,182 shares of the company’s stock worth $7,556,000 after buying an additional 19,221 shares during the last quarter. Finally, Thrivent Financial for Lutherans lifted its holdings in nVent Electric by 5.6% during the third quarter. Thrivent Financial for Lutherans now owns 39,052 shares of the company’s stock valued at $1,061,000 after purchasing an additional 2,060 shares during the last quarter. 87.05% of the stock is currently owned by institutional investors.
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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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