Seaport Res Ptn Brokers Raise Earnings Estimates for Hubbell

Hubbell Incorporated (NYSE:HUBB - Free Report) - Analysts at Seaport Res Ptn raised their FY2024 earnings per share estimates for Hubbell in a research report issued on Tuesday, October 29th. Seaport Res Ptn analyst S. Graham now expects that the industrial products company will earn $16.51 per share for the year, up from their prior 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.

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

A number of other research analysts have also issued reports on HUBB. Wells Fargo & Company lifted their target price on Hubbell from $445.00 to $455.00 and gave the company an "equal weight" rating in a report on Wednesday. Deutsche Bank Aktiengesellschaft raised Hubbell from a "hold" rating to a "buy" rating and lifted their price target for the stock from $431.00 to $441.00 in a report on Friday, September 6th. Morgan Stanley lifted their price target on Hubbell from $407.00 to $445.00 and gave the stock an "equal weight" rating in a report on Wednesday. Barclays lifted their price target on Hubbell from $400.00 to $402.00 and gave the stock an "equal weight" rating in a report on Wednesday. Finally, JPMorgan Chase & Co. downgraded Hubbell from an "overweight" rating to a "neutral" rating and lifted their price target for the stock from $385.00 to $454.00 in a report on Thursday, October 10th. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $434.38.

Hubbell Stock Down 1.1 %

NYSE:HUBB traded down $4.90 during midday trading on Thursday, reaching $426.76. The company had a trading volume of 447,984 shares, compared to its average volume of 442,487. The firm has a market capitalization of $22.91 billion, a price-to-earnings ratio of 31.69, a PEG ratio of 1.66 and a beta of 0.90. The stock's fifty day simple moving average is $419.94 and its 200-day simple moving average is $395.41. Hubbell has a 12-month low of $248.37 and a 12-month 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.

Hedge Funds Weigh In On Hubbell

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Principal Financial Group Inc. increased its position in Hubbell by 7.1% during the 3rd quarter. Principal Financial Group Inc. now owns 229,210 shares of the industrial products company's stock worth $98,187,000 after purchasing an additional 15,215 shares during the period. Concurrent Investment Advisors LLC increased its position in Hubbell by 3.1% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 1,280 shares of the industrial products company's stock worth $548,000 after purchasing an additional 38 shares during the period. Pittenger & Anderson Inc. acquired a new position in Hubbell during the 3rd quarter worth approximately $129,000. Impax Asset Management Group plc increased its position in Hubbell by 30.3% during the 3rd quarter. Impax Asset Management Group plc now owns 1,202,455 shares of the industrial products company's stock worth $514,377,000 after purchasing an additional 279,654 shares during the period. Finally, Arlington Capital Management Inc. acquired a new position in Hubbell during the 3rd quarter worth approximately $651,000. Institutional investors and hedge funds own 88.16% of the company's stock.

Insider Transactions at Hubbell

In related news, CEO Gerben Bakker sold 15,677 shares of the business's stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $374.34, for a total value of $5,868,528.18. Following the transaction, the chief executive officer now owns 66,415 shares in the company, valued at $24,861,791.10. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CEO Gerben Bakker sold 15,677 shares of the business's stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $374.34, for a total value of $5,868,528.18. Following the transaction, the chief executive officer now owns 66,415 shares in the company, valued at $24,861,791.10. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Carlos M. Cardoso sold 450 shares of the business'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 completion of the transaction, the director now owns 1,670 shares in the company, valued at $608,781.80. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.66% of the company's stock.

Hubbell Increases Dividend

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