nVent Electric plc (NYSE: NVT) announced that its board of directors approved a three-year share repurchase program authorizing the company to repurchase up to $500 million of shares, effective July 23, 2026.

The program supplements nVent's existing authorization approved in July 2024, which expires July 23, 2027. The company has approximately $96 million remaining under the 2024 authorization. As of March 31, 2026, nVent had approximately 162 million common shares outstanding.

The company stated the authorization does not constitute a commitment to repurchase shares. nVent may conduct repurchases through open market purchases, block trades, unsolicited negotiated transactions, or pursuant to trading plans adopted under Securities and Exchange Commission Rule 10b5-1.

The London-based company manufactures electrical connection and protection solutions globally. nVent's portfolio includes brands such as CADDY, ERICO, HOFFMAN, ILSCO, SCHROFF and TRACHTE.