Hubbell Incorporated (NYSE:HUBB) Forecasted to Post Q3 2024 Earnings of $4.31 Per Share

Hubbell Incorporated (NYSE:HUBBFree Report) – Equities research analysts at Seaport Res Ptn increased their Q3 2024 earnings per share (EPS) estimates for shares of Hubbell in a report issued on Tuesday, March 5th. Seaport Res Ptn analyst S. Graham now anticipates that the industrial products company will earn $4.31 per share for the quarter, up from their previous forecast of $4.29. The consensus estimate for Hubbell’s current full-year earnings is $16.40 per share. Seaport Res Ptn also issued estimates for Hubbell’s Q4 2024 earnings at $3.86 EPS, Q1 2025 earnings at $3.90 EPS and Q3 2025 earnings at $4.66 EPS.

Several other equities research analysts have also recently commented on HUBB. Barclays raised their target price on Hubbell from $330.00 to $340.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 31st. TD Cowen began coverage on Hubbell in a research note on Friday, December 8th. They set an “outperform” rating and a $338.00 target price for the company. JPMorgan Chase & Co. upgraded Hubbell from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $333.00 to $335.00 in a report on Friday, November 17th. Wells Fargo & Company increased their price target on Hubbell from $351.00 to $360.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 31st. Finally, StockNews.com lowered Hubbell from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $353.00.

Read Our Latest Stock Analysis on Hubbell

Hubbell Trading Up 1.2 %

Shares of HUBB stock opened at $392.75 on Friday. The stock has a market cap of $21.06 billion, a price-to-earnings ratio of 27.95, a PEG ratio of 2.37 and a beta of 0.93. The stock has a 50-day moving average of $347.14 and a 200-day moving average of $320.42. The company has a current ratio of 1.64, a quick ratio of 1.01 and a debt-to-equity ratio of 0.70. Hubbell has a 1-year low of $219.77 and a 1-year high of $393.37.

Hubbell (NYSE:HUBBGet Free Report) last issued its earnings results on Tuesday, January 30th. The industrial products company reported $3.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.58 by $0.11. Hubbell had a return on equity of 30.82% and a net margin of 14.14%. The business had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.32 billion. During the same quarter in the prior year, the firm earned $2.60 EPS. The business’s revenue for the quarter was up 10.3% compared to the same quarter last year.

Hubbell Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 15th. Shareholders of record on Thursday, February 29th will be given a $1.22 dividend. This represents a $4.88 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date of this dividend is Wednesday, February 28th. Hubbell’s dividend payout ratio is currently 34.73%.

Insiders Place Their Bets

In other Hubbell news, insider Mark Eugene Mikes sold 1,837 shares of the firm’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $358.16, for a total value of $657,939.92. Following the completion of the sale, the insider now directly owns 5,296 shares of the company’s stock, valued at $1,896,815.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Mark Eugene Mikes sold 1,837 shares of Hubbell stock in a transaction on Friday, February 9th. The stock was sold at an average price of $358.16, for a total transaction of $657,939.92. Following the completion of the sale, the insider now owns 5,296 shares of the company’s stock, valued at $1,896,815.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Katherine Anne Lane sold 1,468 shares of Hubbell 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 sale, the vice president now directly owns 9,355 shares of the company’s stock, valued at approximately $3,297,731.05. The disclosure for this sale can be found here. Insiders sold 34,125 shares of company stock valued at $12,065,100 over the last ninety days. 0.66% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC increased its position in Hubbell by 1,850.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 78 shares of the industrial products company’s stock valued at $26,000 after buying an additional 74 shares in the last quarter. First Manhattan Co. bought a new position in Hubbell during the 1st quarter valued at approximately $28,000. Lindbrook Capital LLC boosted its stake in Hubbell by 127.5% during the 4th quarter. Lindbrook Capital LLC now owns 91 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 51 shares during the last quarter. IFP Advisors Inc boosted its stake in Hubbell by 120.6% during the 2nd quarter. IFP Advisors Inc now owns 289 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 158 shares during the last quarter. Finally, Baillie Gifford & Co. purchased a new stake in Hubbell during the 4th quarter valued at $33,000. Institutional investors own 85.97% of the company’s stock.

About Hubbell

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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.

See Also

Earnings History and Estimates for Hubbell (NYSE:HUBB)

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