19 November 2025 | 8:04AM EST Equity Research Americas Industrials & Materials: SuperCompute 2025 Trip — Key Takeaways We visited a number of company showcases at SC25 in St. Louis on 11/18, including: nVent Electric, Vertiv, Accelsius (JCI recent investment), Eaton Corp, Jabil, Motivair (owned by Schneider Electric), Modine, and Dover. Our key overall takeaways include: 1) Demand is strong - Companies cited good backlog coverage, and bookings for delivery that can extend into 2027 and in some cases even 20 ...

Core Insights - nVent Electric plc has introduced new modular liquid cooling solutions aimed at meeting the cooling requirements of next-generation AI chips, showcasing these innovations at SC25 [1][3][12] - The company is collaborating with Siemens to develop a liquid cooling and power reference architecture tailored for hyperscale AI workloads [8] Product Offerings - The new product portfolio includes modular and scalable row-based coolant distribution units (CDUs), next-generation power distribution units (PDUs), and advanced technology cooling system manifolds [3][4] - nVent's CDUs and PDUs feature a common control platform designed to enhance reliability and improve user experience for data center operators [3] Industry Collaboration - nVent is participating in Project Deschutes, exhibiting a new CDU design based on Google's specifications, which aims to accelerate the adoption of liquid cooling in data centers [9] - The company is leveraging its extensive experience and technical expertise to address unique challenges faced by customers in the data center industry [2][7] Educational Initiatives - nVent will host "Tech Talks" at SC25 to provide insights into new products and address critical industry questions, supporting data center managers in deploying the latest AI technology [11] - Industry experts from nVent, NVIDIA, Lenovo, HPE, and AMD will participate in a panel discussion on the evolution of liquid cooling technology [10] Marketing Campaign - nVent is launching a new marketing campaign titled "We Do Cool Stuff" to highlight its leadership and innovation in the data center industry [12][13]

Core Insights - The Zacks Electronics - Miscellaneous Components industry is experiencing growth due to automation and increased spending in sectors like semiconductors, automobiles, and healthcare, with companies like TE Connectivity, nVent Electric, and Fabrinet positioned to benefit from AI and IoT advancements [1][3][4] - However, the industry faces challenges from global macroeconomic conditions, end-market volatility, higher tariffs, and geopolitical tensions, particularly between the U.S. and China [1][5] Industry Overview - The industry includes companies that provide various electronic components and accessories, serving markets such as telecommunications, automotive electronics, medical devices, and consumer electronics [2] - Key customers are original equipment manufacturers, independent distributors, and electronic manufacturing service providers [2] Trends Impacting the Industry - Automation is a significant driver, with demand for faster and more efficient electronics leading to increased use of control systems and collaborative robots [3] - Miniaturization in semiconductor manufacturing is creating strong demand for advanced packaging and new manufacturing materials [4] - Geopolitical tensions, particularly the U.S.-China trade restrictions, are negatively impacting the industry, especially regarding semiconductor supply [5] Industry Performance - The Zacks Electronics - Miscellaneous Components industry ranks 62, placing it in the top 25% of over 250 Zacks industries, indicating bullish near-term prospects [6][7] - The industry's earnings estimates have increased by 9.4% since June 30, 2025, reflecting positive sentiment among analysts [8] Stock Market Performance - The industry has outperformed the S&P 500 and the broader Zacks Computer and Technology sector, appreciating 35.3% over the past year compared to the S&P 500's 14.2% and the sector's 24.9% [10] Current Valuation - The industry is currently trading at a forward P/E ratio of 23.45, slightly above the S&P 500's 23.30 but below the sector's 28.61 [13] Notable Companies - **TE Connectivity**: Expected to benefit from strong demand in AI and energy applications, with a projected 11% organic sales growth to $4.5 billion in Q1 fiscal 2026 [17][18] - **nVent Electric**: Anticipates 31-33% sales growth in Q4 2025, driven by acquisitions and strong data center orders [22][23] - **Fabrinet**: Forecasts 29% year-over-year revenue growth in Q2 fiscal 2026, with strong performance in non-optical communications [26][27]

Core Insights - nVent Electric (NVT) is recognized as a leading AI infrastructure stock, achieving a strong performance with a beat-and-raise quarter on October 31, earning a Zacks Rank 1 (Strong Buy) [1] - The company has experienced a remarkable 500% increase in stock value over the past five years, significantly outperforming the Tech sector's 120% growth [2] - nVent is well-positioned for long-term growth in various sectors, including AI data centers, power utilities, and energy storage solutions [5] Company Performance - nVent's revenue has accelerated in recent years, driven by the increasing demand from AI data centers, particularly influenced by major tech companies like Nvidia and Microsoft [6] - The stock is currently trading just below its all-time highs and is 20% below its average Zacks price target, indicating potential for further appreciation [2] Product and Market Position - nVent specializes in electrical connection and protection solutions, with a strong focus on liquid cooling technologies essential for AI data centers [4][7] - The company's liquid cooling solutions are integral to managing the heat generated by high-performance computing, supporting major players in the AI ecosystem [7] - nVent is also expanding its offerings in the power utility sector, addressing the growing energy demands from AI data centers and other industries [8]

Group 1 - The Company, along with Northern 2 VCT PLC and Northern 3 VCT PLC, has utilized its over-allotment facility to raise an additional £6.0 million due to strong demand for its shares [1] - The Offers for new ordinary shares will remain open until 12 noon on 31 March 2026, unless fully subscribed earlier, with a first allotment scheduled for 25 November 2025 [2] - Existing shareholders as of 16 June 2025 will receive a 0.5% reduction in offer costs for their subscriptions [2] Group 2 - A downloadable version of the Prospectus is available on the Company's website and can also be obtained free of charge from the registered office [3] - Enquiries regarding the Offers can be directed to Mercia Fund Management Limited [3]

Key Takeaways nVent shares fell 3% after Q3 earnings despite a 44% jump in adjusted EPS. Net sales rose 35% to $1.05B, led by 50% growth in Systems Protection revenues. Margins narrowed due to inflation, tariffs, and higher costs from recent acquisitions. nVent Electric (NVT) shares have lost 3.4% since the company reported its third-quarter 2025 earnings on Oct. 31. The decline can be attributed to challenges from inflation, including $30 million in tariff impacts, higher incentive compensation costs, and ...

Entering into FY25, nVent Electric (NYSE: NVT ) reported another quarter with strong double-digit expansion across its topline with continued momentum primarily in North America. The company looks well positioned to sustain this growth furtherAs a finance enthusiast with experience in research, I am deeply engaged in studying diverse businesses, especially in the technology, industrial, and conglomerate sectors. I really like companies that have strong foundations and see them doing well in the long run. I ...

Group 1 - nVent Electric (NYSE: NVT) reported strong double-digit growth in its topline entering FY25, with continued momentum primarily in North America [1] - The company is well positioned to sustain its growth trajectory moving forward [1] Group 2 - The analysis reflects a focus on companies with strong foundations, particularly in the technology, industrial, and conglomerate sectors [1] - The approach combines financial analysis with narrative to provide insights into market performance and company strategies [1]

Core Insights - nVent Electric plc specializes in electrical connection and protection solutions, operating in sectors such as energy, industrial, and infrastructure, with competitors including Eaton Corporation and Schneider Electric [1] Financial Performance - nVent reported impressive third-quarter results, with adjusted earnings of 91 cents per share, a 44% increase from the previous year, surpassing analysts' expectations of 88 cents [2] - Net sales for the quarter reached $1.05 billion, reflecting a 35% increase from the prior year and outperforming the anticipated $1.01 billion [2] - Organic sales growth for the quarter was 16% [2] Future Outlook - Following strong results, nVent raised its full-year 2025 outlook, now expecting reported sales growth of 27% to 28%, up from the previous guidance of 24% to 26% [3] - The company projects adjusted earnings per share to be between $3.31 and $3.33, compared to the earlier range of $3.22 to $3.30 [3] - Wall Street analysts forecast earnings of $3.29 per share from sales of $3.76 billion [3] Q4 Expectations - For the fourth quarter, nVent anticipates reported sales growth of 31% to 33% and organic sales growth of 15% to 17% [4] - The adjusted EPS forecast for the fourth quarter is expected to be around 87 cents [4] Stock Performance - nVent's stock is currently priced at $113.33, reflecting a decrease of 0.89% [4] - Over the past year, the stock has reached a high of $117.52 and a low of $41.71, with a market capitalization of approximately $18.24 billion [5] - The trading volume for the day is 1,696,711 shares on the NYSE, indicating strong market presence and investor interest [5] Price Target - Seaport Global set a price target of $130 for NVT, suggesting a potential price increase of about 15.8% from its current price of $112.26 [1][6]

nVent Electric plc (NYSE:NVT) reported its third-quarter results on Friday that topped street estimates.The company reported adjusted earnings of 91 cents per share, up 44% from the prior year period, surpassing analysts' expectations of 88 cents.Net sales climbed to $1.05 billion, up 35% from a year earlier and ahead of estimates of $1.01 billion, while organic sales growth was 16% for the quarter. The company's adjusted operating income rose 27% to $213 million.nVent Electric raised its full-year 2025 out ...