Seaport Res Ptn Analysts Reduce Earnings Estimates for Hubbell Incorporated (NYSE:HUBB)

Hubbell Incorporated (NYSE:HUBB) – Research analysts at Seaport Res Ptn decreased their Q2 2024 earnings estimates for shares of Hubbell in a research note issued on Wednesday, May 1st. Seaport Res Ptn analyst S. Graham now forecasts that the industrial products company will post earnings per share of $4.24 for the quarter, down from their prior forecast of $4.61. The consensus estimate for Hubbell’s current full-year earnings is $16.41 per share. Seaport Res Ptn also issued estimates for Hubbell’s Q3 2024 earnings at $4.43 EPS, Q4 2024 earnings at $4.05 EPS, Q3 2025 earnings at $4.84 EPS and Q4 2025 earnings at $4.44 EPS.

Hubbell (NYSE:HUBB) last released its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $3.60 EPS for the quarter, topping the consensus estimate of $3.54 by $0.06. Hubbell had a return on equity of 29.55% and a net margin of 13.23%. The firm had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.39 billion. During the same quarter in the previous year, the business earned $3.61 earnings per share. The company’s quarterly revenue was up 8.8% on a year-over-year basis.

Other equities research analysts have also recently issued research reports about the stock. Barclays dropped their price target on shares of Hubbell from $400.00 to $384.00 and set an “equal weight” rating for the company in a research report on Thursday. Deutsche Bank Aktiengesellschaft began coverage on shares of Hubbell in a report on Monday, March 11th. They set a “hold” rating and a $427.00 target price for the company. StockNews.com downgraded Hubbell from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Mizuho increased their price objective on Hubbell from $370.00 to $450.00 and gave the stock a “buy” rating in a report on Wednesday, March 20th. Finally, Wells Fargo & Company reduced their target price on Hubbell from $435.00 to $397.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $386.57.

Hubbell Stock Performance

NYSE:HUBB opened at $379.89 on Friday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.01 and a current ratio of 1.66. Hubbell has a fifty-two week low of $248.37 and a fifty-two week high of $429.61. The firm has a market cap of $20.37 billion, a PE ratio of 28.33, a price-to-earnings-growth ratio of 1.44 and a beta of 0.96. The business has a 50 day moving average price of $398.06 and a 200-day moving average price of $345.57.

Institutional Trading of Hubbell

A number of hedge funds have recently made changes to their positions in the stock. North Star Asset Management Inc. grew its stake in shares of Hubbell by 1.5% in the third quarter. North Star Asset Management Inc. now owns 2,381 shares of the industrial products company’s stock worth $746,000 after acquiring an additional 36 shares during the last quarter. Xponance Inc. boosted its stake in Hubbell by 0.4% during the 4th quarter. Xponance Inc. now owns 9,140 shares of the industrial products company’s stock valued at $3,006,000 after purchasing an additional 36 shares during the last quarter. Tevis Investment Management increased its holdings in shares of Hubbell by 4.6% in the 1st quarter. Tevis Investment Management now owns 901 shares of the industrial products company’s stock worth $374,000 after purchasing an additional 40 shares in the last quarter. Czech National Bank lifted its holdings in shares of Hubbell by 0.4% during the first quarter. Czech National Bank now owns 9,435 shares of the industrial products company’s stock valued at $3,916,000 after purchasing an additional 42 shares in the last quarter. Finally, Atria Wealth Solutions Inc. boosted its position in shares of Hubbell by 2.4% during the third quarter. Atria Wealth Solutions Inc. now owns 1,924 shares of the industrial products company’s stock valued at $603,000 after buying an additional 45 shares during the last quarter. 88.16% of the stock is owned by institutional investors.

Insider Activity at Hubbell

In other Hubbell news, insider Mark Eugene Mikes sold 1,045 shares of the firm’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $357.56, for a total transaction of $373,650.20. Following the completion of the transaction, the insider now owns 7,310 shares of the company’s stock, valued at $2,613,763.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, VP Katherine Anne Lane sold 1,468 shares of the business’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $352.51, for a total transaction of $517,484.68. Following the sale, the vice president now owns 9,355 shares of the company’s stock, valued at $3,297,731.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Mark Eugene Mikes sold 1,045 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $357.56, for a total transaction of $373,650.20. Following the transaction, the insider now directly owns 7,310 shares of the company’s stock, valued at approximately $2,613,763.60. The disclosure for this sale can be found here. Insiders have sold 4,747 shares of company stock worth $1,693,364 over the last ninety days. 0.66% of the stock is owned by corporate insiders.

Hubbell Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Friday, May 31st will be paid a $1.22 dividend. This represents a $4.88 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date is Thursday, May 30th. Hubbell’s payout ratio is presently 36.39%.

Hubbell Company Profile

Hubbell Incorporated, together with its subsidiaries, designs, manufactures, and sells electrical and utility solutions in the United States and internationally. It operates through two segments, Electrical Solutions and Utility Solutions. The Electrical Solution segment offers standard and special application wiring device products, rough-in electrical products, connector and grounding products, lighting fixtures, and other electrical equipment for use in industrial, commercial, and institutional facilities by electrical contractors, maintenance personnel, electricians, utilities, and telecommunications companies, as well as components and assemblies.