Q2 2024 EPS Estimates for Hubbell Incorporated (NYSE:HUBB) Cut by Analyst

Hubbell Incorporated (NYSE:HUBB) – Seaport Res Ptn lowered their Q2 2024 earnings per share (EPS) estimates for shares of Hubbell in a research report issued on Wednesday, May 1st. Seaport Res Ptn analyst S. Graham now anticipates 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.

Several other equities research analysts have also recently issued reports on the company. Mizuho raised their price objective on Hubbell from $370.00 to $450.00 and gave the stock a “buy” rating in a report on Wednesday, March 20th. Barclays reduced their target price on Hubbell from $400.00 to $384.00 and set an “equal weight” rating on the stock in a report on Thursday. Wells Fargo & Company reduced their target price on Hubbell from $435.00 to $397.00 and set an “equal weight” rating on the stock in a report on Wednesday. StockNews.com cut Hubbell from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Hubbell in a report on Monday, March 11th. They issued 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 assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $386.57.

Hubbell Stock Performance

Hubbell stock opened at $379.88 on Friday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.01 and a current ratio of 1.66. The stock has a fifty day moving average of $398.06 and a two-hundred day moving average of $345.25. The company has a market capitalization of $20.37 billion, a price-to-earnings ratio of 28.33, a PEG ratio of 2.28 and a beta of 0.96. Hubbell has a fifty-two week low of $248.37 and a fifty-two week high of $429.61.

Hubbell (NYSE:HUBB) last released 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 firm had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.39 billion. Hubbell had a return on equity of 29.55% and a net margin of 13.23%. Hubbell’s quarterly revenue was up 8.8% on a year-over-year basis. During the same period last year, the business posted $3.61 EPS.

Hedge Funds Weigh In On Hubbell

Several hedge funds and other institutional investors have recently made changes to their positions in HUBB. International Assets Investment Management LLC boosted its position in shares of Hubbell by 32,734.4% during 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 buying an additional 1,468,463 shares during the period. Vanguard Group Inc. boosted its position in shares of Hubbell by 15.9% during the fourth quarter. Vanguard Group Inc. now owns 6,696,582 shares of the industrial products company’s stock worth $2,202,707,000 after buying an additional 918,808 shares during the period. Norges Bank acquired a new position in shares of Hubbell during the fourth quarter worth approximately $143,024,000. Massachusetts Financial Services Co. MA boosted its position in shares of Hubbell by 46.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,020,067 shares of the industrial products company’s stock worth $319,699,000 after buying an additional 323,116 shares during the period. Finally, Westwood Holdings Group Inc. boosted its position in shares of Hubbell by 575.7% during the fourth quarter. Westwood Holdings Group Inc. now owns 288,186 shares of the industrial products company’s stock worth $94,793,000 after buying an additional 245,536 shares during the period. 88.16% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Hubbell

In related news, VP Katherine Anne Lane sold 1,468 shares of the business’s stock in a transaction dated Tuesday, February 6th. The stock was 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 directly owns 9,355 shares of the company’s stock, valued at $3,297,731.05. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, VP Katherine Anne Lane sold 1,468 shares of the company’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $352.51, for a total transaction of $517,484.68. Following the completion of the transaction, the vice president now directly owns 9,355 shares of the company’s stock, valued at $3,297,731.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mark Eugene Mikes sold 397 shares of the company’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 transaction, the insider now directly owns 4,899 shares of the company’s stock, valued at $1,780,541.55. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 4,747 shares of company stock valued at $1,693,364. 0.66% of the stock is currently owned by 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 given a dividend of $1.22 per share. This represents a $4.88 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date of this dividend is Thursday, May 30th. Hubbell’s payout ratio is 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.