Seaport Res Ptn Weighs in on Hubbell Incorporated’s FY2024 Earnings (NYSE:HUBB)

Hubbell Incorporated (NYSE:HUBB) – Equities research analysts at Seaport Res Ptn cut their FY2024 EPS estimates for shares of Hubbell in a research note issued to investors on Wednesday, May 1st. Seaport Res Ptn analyst S. Graham now forecasts that the industrial products company will earn $16.32 per share for the year, down from their prior 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.

Other analysts have also issued research reports about the stock. Barclays lowered 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, May 2nd. StockNews.com downgraded shares of Hubbell from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Mizuho increased their price objective on shares of Hubbell from $370.00 to $450.00 and gave the stock a “buy” rating in a research note on Wednesday, March 20th. Deutsche Bank Aktiengesellschaft started coverage on Hubbell in a research note on Monday, March 11th. They issued a “hold” rating and a $427.00 target price for the company. Finally, Wells Fargo & Company dropped their price target on Hubbell from $435.00 to $397.00 and set an “equal weight” rating on the stock in a research report on Wednesday, May 1st. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, Hubbell currently has a consensus rating of “Moderate Buy” and an average price target of $386.57.

Hubbell Stock Performance

HUBB stock opened at $393.06 on Monday. The stock’s 50 day simple moving average is $398.93 and its 200 day simple moving average is $347.48. Hubbell has a 12-month low of $248.37 and a 12-month high of $429.61. The firm has a market cap of $21.08 billion, a P/E ratio of 29.31, a P/E/G ratio of 1.47 and a beta of 0.96. The company has a current ratio of 1.66, a quick ratio of 1.03 and a debt-to-equity ratio of 0.64.

Hubbell (NYSE:HUBB) last announced its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $3.60 earnings per share for the quarter, beating 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 during the quarter, compared to analyst estimates of $1.39 billion. During the same period in the previous year, the company earned $3.61 earnings per share. Hubbell’s quarterly revenue was up 8.8% on a year-over-year basis.

Institutional Investors Weigh In On Hubbell

Institutional investors have recently added to or reduced their stakes in the company. Meeder Advisory Services Inc. raised its stake in shares of Hubbell by 3.8% in the 1st quarter. Meeder Advisory Services Inc. now owns 816 shares of the industrial products company’s stock worth $339,000 after buying an additional 30 shares in the last quarter. North Star Asset Management Inc. boosted its stake in Hubbell by 1.5% during the third quarter. North Star Asset Management Inc. now owns 2,381 shares of the industrial products company’s stock valued at $746,000 after buying an additional 36 shares in the last quarter. Xponance Inc. grew its holdings in Hubbell by 0.4% during the fourth quarter. Xponance Inc. now owns 9,140 shares of the industrial products company’s stock worth $3,006,000 after acquiring an additional 36 shares during the period. Tectonic Advisors LLC raised its position in Hubbell by 4.0% in the first quarter. Tectonic Advisors LLC now owns 946 shares of the industrial products company’s stock worth $393,000 after acquiring an additional 36 shares in the last quarter. Finally, Tevis Investment Management lifted its holdings in Hubbell by 4.6% in the 1st quarter. Tevis Investment Management now owns 901 shares of the industrial products company’s stock valued at $374,000 after acquiring an additional 40 shares during the last quarter. 88.16% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Hubbell

In other Hubbell news, Director Neal J. Keating purchased 500 shares of the stock in a transaction dated Friday, May 3rd. The shares were bought at an average cost of $378.77 per share, with a total value of $189,385.00. Following the completion of the acquisition, the director now owns 8,571 shares of the company’s stock, valued at $3,246,437.67. The purchase was disclosed in a filing with the SEC, which is available through this link. In related news, Director Neal J. Keating bought 500 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The stock was purchased at an average price of $378.77 per share, for a total transaction of $189,385.00. Following the transaction, the director now directly owns 8,571 shares of the company’s stock, valued at approximately $3,246,437.67. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Mark Eugene Mikes sold 1,837 shares of the business’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $358.16, for a total transaction of $657,939.92. Following the sale, the insider now owns 5,296 shares in the company, valued at $1,896,815.36. The disclosure for this sale can be found here. Insiders own 0.78% of the company’s stock.

Hubbell Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Friday, May 31st will be issued a dividend of $1.22 per share. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $4.88 dividend on an annualized basis and a dividend yield of 1.24%. Hubbell’s dividend payout ratio (DPR) 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.