nVent Electric (NVT) Releases FY19 Earnings Guidance

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nVent Electric (NYSE:NVT) updated its FY19 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $1.80-$1.90 for the period, compared to the Thomson Reuters consensus estimate of $1.87. nVent Electric also updated its FY 2019 guidance to $1.80-1.90 EPS.

Several brokerages have recently commented on NVT. Vertical Research raised nVent Electric from a hold rating to a buy rating in a report on Wednesday, January 2nd. Zacks Investment Research downgraded nVent Electric from a hold rating to a sell rating in a report on Wednesday, December 12th. Finally, Goldman Sachs Group raised nVent Electric from a neutral rating to a buy rating and reduced their target price for the stock from $31.00 to $30.00 in a report on Friday, October 26th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company. The company has an average rating of Buy and a consensus price target of $28.50.

Shares of NVT traded up $0.03 on Thursday, hitting $25.02. The company’s stock had a trading volume of 2,695,623 shares, compared to its average volume of 870,349. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.96 and a quick ratio of 1.41. nVent Electric has a fifty-two week low of $19.71 and a fifty-two week high of $29.84.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 8th. Investors of record on Friday, January 25th will be given a $0.175 dividend. This represents a $0.70 annualized dividend and a yield of 2.80%. The ex-dividend date is Thursday, January 24th.

In related news, Director Randall J. Hogan sold 21,082 shares of the business’s stock in a transaction that occurred on Monday, November 5th. The shares were sold at an average price of $25.35, for a total value of $534,428.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

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About nVent Electric

nVent Electric plc designs, manufactures, markets, installs, and services electrical connection and protection products and solutions in the United States, Canada, and internationally. The company operates through three segments: Enclosures, Thermal Management, and Electrical & Fastening Solutions.

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