Hubbell Incorporated Expected to Post Q2 2024 Earnings of $4.24 Per Share (NYSE:HUBB)

Hubbell Incorporated (NYSE:HUBB - Free Report) - Equities researchers at Seaport Res Ptn dropped their Q2 2024 EPS estimates for shares of Hubbell in a note issued to investors on Wednesday, May 1st. Seaport Res Ptn analyst S. Graham now forecasts that the industrial products company will post earnings of $4.24 per share for the quarter, down from their previous estimate 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.

Hubbell (NYSE:HUBB - Get Free Report) last posted its earnings results on Tuesday, April 30th. The industrial products company reported $3.60 earnings per share for the quarter, topping analysts' consensus estimates of $3.54 by $0.06. Hubbell had a net margin of 13.23% and a return on equity of 29.55%. The firm had revenue of $1.40 billion for the quarter, compared to analysts' expectations of $1.39 billion. During the same quarter in the previous year, the firm posted $3.61 earnings per share. The company's revenue was up 8.8% on a year-over-year basis.

Several other research firms also recently issued reports on HUBB. Deutsche Bank Aktiengesellschaft began coverage on Hubbell in a research note on Monday, March 11th. They issued a "hold" rating and a $427.00 price objective for the company. Mizuho lifted their price target on shares of Hubbell from $370.00 to $450.00 and gave the stock a "buy" rating in a report on Wednesday, March 20th. Wells Fargo & Company decreased their price objective on Hubbell from $435.00 to $397.00 and set an "equal weight" rating for the company in a report on Wednesday. StockNews.com downgraded Hubbell from a "buy" rating to a "hold" rating in a report on Friday, February 2nd. Finally, Barclays reduced their price target on Hubbell from $400.00 to $384.00 and set an "equal weight" rating on the stock in a research report on Thursday. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $386.57.

Hubbell Price Performance

HUBB traded up $6.94 on Friday, reaching $379.88. The stock had a trading volume of 433,672 shares, compared to its average volume of 430,023. The company has a current ratio of 1.66, a quick ratio of 1.01 and a debt-to-equity ratio of 0.64. The company has a market capitalization of $20.37 billion, a price-to-earnings ratio of 27.81, a price-to-earnings-growth 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. The firm has a 50-day moving average of $397.77 and a 200-day moving average of $344.72.

Institutional Trading of Hubbell

Several hedge funds have recently bought and sold shares of the business. North Star Asset Management Inc. boosted its stake in Hubbell by 1.5% during the 3rd quarter. North Star Asset Management Inc. now owns 2,381 shares of the industrial products company's stock valued at $746,000 after purchasing an additional 36 shares during the last quarter. Xponance Inc. grew its holdings in Hubbell by 0.4% during the fourth quarter. Xponance Inc. now owns 9,140 shares of the industrial products company's stock worth $3,006,000 after buying an additional 36 shares in the last quarter. Tevis Investment Management raised its position in Hubbell by 4.6% in the 1st quarter. Tevis Investment Management now owns 901 shares of the industrial products company's stock valued at $374,000 after buying an additional 40 shares during the last quarter. Czech National Bank lifted its stake in Hubbell by 0.4% during the 1st quarter. Czech National Bank now owns 9,435 shares of the industrial products company's stock valued at $3,916,000 after acquiring an additional 42 shares in the last quarter. Finally, Atria Wealth Solutions Inc. boosted its holdings in Hubbell by 2.4% during the 3rd quarter. Atria Wealth Solutions Inc. now owns 1,924 shares of the industrial products company's stock worth $603,000 after acquiring an additional 45 shares during the last quarter. Institutional investors and hedge funds own 88.16% of the company's stock.

Insiders Place Their Bets

In other news, VP Katherine Anne Lane sold 1,468 shares of the firm's stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $352.51, for a total transaction of $517,484.68. Following the completion of the sale, the vice president now owns 9,355 shares of the company's stock, valued at approximately $3,297,731.05. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, VP Katherine Anne Lane sold 1,468 shares of the firm'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 in the company, valued at approximately $3,297,731.05. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Mark Eugene Mikes sold 397 shares of the business's stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $363.45, for a total value of $144,289.65. Following the completion of the sale, 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 three months, insiders sold 4,747 shares of company stock worth $1,693,364. 0.66% of the stock is owned by corporate insiders.

Hubbell Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Friday, May 31st will be paid a dividend of $1.22 per share. The ex-dividend date is Thursday, May 30th. This represents a $4.88 annualized dividend and a yield of 1.28%. Hubbell's dividend payout ratio is currently 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.