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

Hubbell Incorporated (NYSE:HUBB) – Equities research analysts at Seaport Res Ptn decreased their FY2024 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 of $16.32 per share for the year, down from their previous estimate of $16.49. The consensus estimate for Hubbell’s current full-year earnings is $16.35 per share. Seaport Res Ptn also issued estimates for Hubbell’s Q1 2025 earnings at $3.89 EPS, Q2 2025 earnings at $4.60 EPS and FY2025 earnings at $17.77 EPS.

Several other equities analysts have also recently issued reports on HUBB. Wells Fargo & Company decreased their target price on shares of Hubbell from $435.00 to $397.00 and set an “equal weight” rating for the company in a research note on Wednesday, May 1st. Mizuho boosted their target price on shares of Hubbell from $370.00 to $450.00 and gave the company a “buy” rating in a research note on Wednesday, March 20th. Barclays decreased their target price on shares of Hubbell from $400.00 to $384.00 and set an “equal weight” rating for the company in a research note on Thursday. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Hubbell in a research note on Monday, March 11th. They issued a “hold” rating and a $427.00 target price for the company. Finally, StockNews.com cut shares of Hubbell from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Hubbell has a consensus rating of “Moderate Buy” and a consensus price target of $386.57.

Hubbell Stock Up 1.9 %

HUBB stock opened at $379.89 on Monday. The firm’s fifty day simple moving average is $398.06 and its 200-day simple moving average is $345.96. The company has a market capitalization of $20.37 billion, a P/E ratio of 28.33, a price-to-earnings-growth ratio of 1.47 and a beta of 0.96. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.66 and a quick ratio of 1.01. Hubbell has a 12 month low of $248.37 and a 12 month high of $429.61.

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

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Team Hewins LLC purchased a new position in Hubbell during the first quarter worth about $222,000. Mediolanum International Funds Ltd purchased a new position in Hubbell during the first quarter worth about $2,266,000. Rehmann Capital Advisory Group boosted its stake in Hubbell by 4.5% during the first quarter. Rehmann Capital Advisory Group now owns 1,661 shares of the industrial products company’s stock worth $689,000 after buying an additional 71 shares during the period. United Community Bank purchased a new position in Hubbell during the first quarter worth about $162,000. Finally, Suncoast Equity Management boosted its stake in Hubbell by 6.7% during the first quarter. Suncoast Equity Management now owns 2,296 shares of the industrial products company’s stock worth $953,000 after buying an additional 145 shares during the period. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Insider Activity at Hubbell

In related news, insider Mark Eugene Mikes sold 397 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $363.45, for a total value of $144,289.65. Following the completion of the sale, the insider now owns 4,899 shares of the company’s stock, valued at $1,780,541.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Mark Eugene Mikes sold 397 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $363.45, for a total value of $144,289.65. Following the completion of the sale, the insider now owns 4,899 shares of the company’s stock, valued at $1,780,541.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Katherine Anne Lane sold 1,468 shares of the company’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 completion of the sale, the vice president now directly owns 9,355 shares of the company’s stock, valued at approximately $3,297,731.05. The disclosure for this sale can be found here. Over the last quarter, insiders sold 4,747 shares of company stock valued at $1,693,364. 0.66% of the stock is owned by company insiders.

Hubbell Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Friday, May 31st will be issued 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 dividend payout ratio is currently 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.