Hubbell Incorporated (NYSE:HUBB) to Post FY2024 Earnings of $16.32 Per Share, Seaport Res Ptn Forecasts

Hubbell Incorporated (NYSE:HUBB) – Investment analysts at Seaport Res Ptn dropped their FY2024 earnings per share (EPS) estimates for shares of Hubbell in a report issued on Wednesday, May 1st. Seaport Res Ptn analyst S. Graham now expects that the industrial products company will post earnings of $16.32 per share for the year, down from their prior forecast 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.

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

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

Hubbell Stock Up 1.3 %

Shares of NYSE HUBB opened at $393.06 on Monday. The company has a quick ratio of 1.03, a current ratio of 1.66 and a debt-to-equity ratio of 0.64. The firm has a market cap of $21.08 billion, a PE ratio of 29.31, a P/E/G ratio of 1.47 and a beta of 0.96. The company’s fifty 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.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Meeder Advisory Services Inc. lifted its position in shares of Hubbell by 3.8% during the first quarter. Meeder Advisory Services Inc. now owns 816 shares of the industrial products company’s stock worth $339,000 after acquiring an additional 30 shares in the last quarter. North Star Asset Management Inc. raised its stake in shares of Hubbell by 1.5% during the 3rd quarter. North Star Asset Management Inc. now owns 2,381 shares of the industrial products company’s stock valued at $746,000 after purchasing an additional 36 shares during the period. Xponance Inc. lifted its holdings in Hubbell by 0.4% during the 4th quarter. Xponance Inc. now owns 9,140 shares of the industrial products company’s stock worth $3,006,000 after purchasing an additional 36 shares in the last quarter. Tectonic Advisors LLC boosted its stake in Hubbell by 4.0% in the 1st quarter. Tectonic Advisors LLC now owns 946 shares of the industrial products company’s stock worth $393,000 after purchasing an additional 36 shares during the period. Finally, Tevis Investment Management boosted its stake in 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 during the period. Institutional investors own 88.16% of the company’s stock.

Insider Activity

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

Hubbell Announces Dividend

The firm 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. 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 payout ratio is presently 36.39%.

About Hubbell

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.