Hubbell Incorporated (NYSE:HUBB) Expected to Earn FY2024 Earnings of $16.32 Per Share

Hubbell Incorporated (NYSE:HUBB) – Stock analysts at Seaport Res Ptn lowered their FY2024 earnings per share estimates for shares of Hubbell in a report released on Wednesday, May 1st. Seaport Res Ptn analyst S. Graham now anticipates 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.

Several other research firms have also weighed in on HUBB. StockNews.com lowered shares of Hubbell from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. 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. Mizuho upped their target price on shares of Hubbell from $370.00 to $450.00 and gave the company a “buy” rating in a report on Wednesday, March 20th. Barclays reduced 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, May 2nd. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Hubbell in a report on Monday, March 11th. They set a “hold” rating and a $427.00 target price on the stock. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $386.57.

Hubbell Trading Up 2.1 %

Shares of HUBB stock opened at $388.00 on Monday. The company has a current ratio of 1.66, a quick ratio of 1.03 and a debt-to-equity ratio of 0.64. The firm’s fifty day simple moving average is $398.42 and its 200 day simple moving average is $346.68. Hubbell has a 1 year low of $248.37 and a 1 year high of $429.61. The firm has a market capitalization of $20.81 billion, a P/E ratio of 28.93, a price-to-earnings-growth ratio of 1.47 and a beta of 0.96.

Hubbell (NYSE:HUBB) last announced its quarterly earnings results 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. Hubbell had a return on equity of 29.55% and a net margin of 13.23%. The company had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.39 billion. During the same quarter last year, the company posted $3.61 earnings per share. The company’s revenue for the quarter was up 8.8% compared to the same quarter last year.

Hubbell Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Friday, May 31st will be given a dividend of $1.22 per share. The ex-dividend date is Thursday, May 30th. This represents a $4.88 annualized dividend and a dividend yield of 1.26%. Hubbell’s dividend payout ratio is currently 36.39%.

Insider Activity

In related news, insider Mark Eugene Mikes sold 1,045 shares of the stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $357.56, for a total transaction of $373,650.20. Following 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 the SEC website. Insiders have sold 3,279 shares of company stock valued at $1,175,880 in the last 90 days. Insiders own 0.78% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of Hubbell by 15.9% in the fourth quarter. Vanguard Group Inc. now owns 6,696,582 shares of the industrial products company’s stock valued at $2,202,707,000 after acquiring an additional 918,808 shares during the period. FMR LLC grew its stake in Hubbell by 2.9% in the third quarter. FMR LLC now owns 2,563,965 shares of the industrial products company’s stock worth $803,572,000 after purchasing an additional 71,962 shares during the period. Bank of New York Mellon Corp grew its stake in Hubbell by 14.2% in the first quarter. Bank of New York Mellon Corp now owns 1,743,746 shares of the industrial products company’s stock worth $723,741,000 after purchasing an additional 216,600 shares during the period. International Assets Investment Management LLC raised its holdings in Hubbell by 32,734.4% in the fourth quarter. International Assets Investment Management LLC now owns 1,472,949 shares of the industrial products company’s stock worth $484,497,000 after purchasing an additional 1,468,463 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its position in Hubbell by 24.4% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,268,560 shares of the industrial products company’s stock valued at $417,267,000 after buying an additional 248,493 shares during the period. 88.16% of the stock is currently 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.