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

Hubbell Incorporated (NYSE:HUBB) – Research analysts at Seaport Res Ptn reduced their FY2024 earnings estimates for 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 previous 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 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. The company had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.39 billion. Hubbell had a net margin of 13.23% and a return on equity of 29.55%. The company’s revenue was up 8.8% on a year-over-year basis. During the same period in the prior year, the firm earned $3.61 earnings per share.

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

Hubbell Price Performance

Shares of HUBB opened at $379.89 on Monday. The firm has a market capitalization of $20.37 billion, a PE ratio of 28.33, a PEG ratio of 1.47 and a beta of 0.96. The company’s 50-day moving average is $398.06 and its 200-day moving average is $345.96. Hubbell has a fifty-two week low of $248.37 and a fifty-two week high of $429.61. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.66 and a quick ratio of 1.01.

Institutional Trading of Hubbell

Institutional investors have recently modified their holdings of the business. EverSource Wealth Advisors LLC increased its holdings in Hubbell by 1,850.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 78 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 74 shares during the period. Lindbrook Capital LLC increased its holdings in Hubbell by 127.5% in the fourth quarter. Lindbrook Capital LLC now owns 91 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 51 shares during the period. Baillie Gifford & Co. acquired a new stake in Hubbell in the fourth quarter valued at $33,000. Principal Securities Inc. acquired a new stake in Hubbell in the fourth quarter valued at $40,000. Finally, Riverview Trust Co bought a new stake in Hubbell during the first quarter valued at $52,000. Institutional investors own 88.16% of the company’s stock.

Insiders Place Their Bets

In other news, insider Mark Eugene Mikes sold 397 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $363.45, for a total value of $144,289.65. Following the sale, the insider now directly owns 4,899 shares in the company, valued at approximately $1,780,541.55. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, VP Katherine Anne Lane sold 1,468 shares of the firm’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $352.51, for a total value of $517,484.68. Following the sale, the vice president now directly owns 9,355 shares in the company, valued at approximately $3,297,731.05. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Mark Eugene Mikes sold 397 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $363.45, for a total transaction of $144,289.65. Following the completion of the sale, the insider now owns 4,899 shares in the company, valued at $1,780,541.55. 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. Corporate insiders own 0.66% of the company’s stock.

Hubbell Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Friday, May 31st will be paid 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 yield of 1.28%. Hubbell’s payout ratio is 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.