FY2024 EPS Estimates for Hubbell Boosted by Seaport Res Ptn

Hubbell Incorporated (NYSE:HUBB) – Investment analysts at Seaport Res Ptn boosted their FY2024 earnings estimates for shares of Hubbell in a research report issued to clients and investors on Tuesday, October 29th. Seaport Res Ptn analyst S. Graham now forecasts that the industrial products company will post earnings of $16.51 per share for the year, up from their previous forecast of $16.46. The consensus estimate for Hubbell’s current full-year earnings is $16.43 per share. Seaport Res Ptn also issued estimates for Hubbell’s Q1 2025 earnings at $3.82 EPS, Q1 2026 earnings at $4.20 EPS, Q2 2026 earnings at $5.24 EPS, Q3 2026 earnings at $5.22 EPS and FY2026 earnings at $19.42 EPS.

Several other analysts have also commented on HUBB. Barclays boosted their price target on Hubbell from $400.00 to $402.00 and gave the company an “equal weight” rating in a research note on Wednesday. Morgan Stanley lifted their price objective on Hubbell from $407.00 to $445.00 and gave the company an “equal weight” rating in a report on Wednesday. Wells Fargo & Company upped their target price on shares of Hubbell from $445.00 to $455.00 and gave the stock an “equal weight” rating in a report on Wednesday. Stephens reissued an “overweight” rating and set a $450.00 price target on shares of Hubbell in a report on Friday, August 2nd. Finally, Mizuho boosted their price target on shares of Hubbell from $450.00 to $490.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $434.38.

Hubbell Trading Down 1.1 %

HUBB stock opened at $426.76 on Thursday. Hubbell has a 1-year low of $248.37 and a 1-year high of $461.77. The company has a current ratio of 1.81, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62. The business’s 50 day moving average is $419.94 and its 200-day moving average is $395.41. The firm has a market cap of $22.91 billion, a P/E ratio of 31.69, a P/E/G ratio of 1.66 and a beta of 0.90.

Hubbell (NYSE:HUBB) last posted its earnings results on Tuesday, October 29th. The industrial products company reported $4.49 earnings per share for the quarter, beating analysts’ consensus estimates of $4.47 by $0.02. The business had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.48 billion. Hubbell had a net margin of 13.14% and a return on equity of 28.98%. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.95 earnings per share.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Nvwm LLC bought a new stake in Hubbell in the first quarter valued at about $25,000. Quarry LP bought a new stake in shares of Hubbell in the 2nd quarter valued at about $49,000. Northwest Investment Counselors LLC acquired a new stake in shares of Hubbell in the 3rd quarter valued at approximately $58,000. GAMMA Investing LLC boosted its stake in Hubbell by 84.7% during the 3rd quarter. GAMMA Investing LLC now owns 157 shares of the industrial products company’s stock worth $67,000 after acquiring an additional 72 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC bought a new position in Hubbell during the 2nd quarter worth approximately $62,000. Institutional investors and hedge funds own 88.16% of the company’s stock.

Insider Activity at Hubbell

In other news, Director Carlos M. Cardoso sold 450 shares of the business’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $364.54, for a total transaction of $164,043.00. Following the completion of the sale, the director now owns 1,670 shares in the company, valued at $608,781.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, Director Carlos M. Cardoso sold 450 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $364.54, for a total value of $164,043.00. Following the transaction, the director now owns 1,670 shares of the company’s stock, valued at approximately $608,781.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Gerben Bakker sold 15,677 shares of Hubbell stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $374.34, for a total transaction of $5,868,528.18. Following the sale, the chief executive officer now owns 66,415 shares of the company’s stock, valued at approximately $24,861,791.10. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by company insiders.

Hubbell Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be paid a dividend of $1.32 per share. This is a boost from Hubbell’s previous quarterly dividend of $1.22. This represents a $5.28 annualized dividend and a dividend yield of 1.24%. The ex-dividend date of this dividend is Friday, November 29th. Hubbell’s dividend 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.