Q2 2024 EPS Estimates for Hubbell Incorporated Lowered by Seaport Res Ptn (NYSE:HUBB)

Hubbell Incorporated (NYSE:HUBB) – Stock analysts at Seaport Res Ptn dropped their Q2 2024 earnings per share (EPS) estimates for shares of Hubbell in a research note issued on Wednesday, May 1st. Seaport Res Ptn analyst S. Graham now expects that the industrial products company will post earnings per share of $4.24 for the quarter, down from their previous 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 announced its earnings results on Tuesday, April 30th. The industrial products company reported $3.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.54 by $0.06. The business 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%. Hubbell’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same quarter last year, the firm earned $3.61 EPS.

HUBB has been the topic of several other reports. Mizuho boosted 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. Deutsche Bank Aktiengesellschaft started coverage on Hubbell in a research report on Monday, March 11th. They set a “hold” rating and a $427.00 price target for the company. Wells Fargo & Company lowered 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. Barclays cut their price objective on Hubbell from $400.00 to $384.00 and set an “equal weight” rating for the company in a report on Thursday. Finally, StockNews.com downgraded shares of Hubbell from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $386.57.

Hubbell Stock Performance

Shares of HUBB stock opened at $379.89 on Friday. The firm has a market cap of $20.37 billion, a PE ratio of 28.33, a P/E/G ratio of 1.44 and a beta of 0.96. Hubbell has a 12 month low of $248.37 and a 12 month high of $429.61. The company’s fifty day simple moving average is $398.06 and its 200-day simple moving average is $345.57. The company has a quick ratio of 1.01, a current ratio of 1.66 and a debt-to-equity ratio of 0.64.

Hubbell Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Friday, May 31st will be issued a $1.22 dividend. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $4.88 annualized dividend and a dividend yield of 1.28%. Hubbell’s dividend payout ratio is currently 36.39%.

Insider Activity

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

Hedge Funds Weigh In On Hubbell

Hedge funds have recently bought and sold shares of the business. EverSource Wealth Advisors LLC grew its position in shares of Hubbell by 1,850.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 78 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 74 shares in the last quarter. Lindbrook Capital LLC boosted its stake in shares of 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 buying an additional 51 shares during the period. Baillie Gifford & Co. acquired a new stake in Hubbell during the fourth quarter worth approximately $33,000. Principal Securities Inc. bought a new position in Hubbell during the 4th quarter worth $40,000. Finally, Riverview Trust Co acquired a new position in Hubbell in the 1st quarter valued at $52,000. 88.16% of the stock is owned by institutional investors.

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.