Hubbell (NYSE:HUBB – Get Rating) updated its FY22 earnings guidance on Tuesday. The company provided earnings per share guidance of $9.40-$9.80 for the period, compared to the consensus earnings per share estimate of $9.36.
Wall Street Analyst Weigh In
Several brokerages have recently commented on HUBB. Morgan Stanley reduced their target price on shares of Hubbell from $200.00 to $190.00 and set an equal weight rating on the stock in a research note on Tuesday, May 31st. Wells Fargo & Company upped their price target on shares of Hubbell from $188.00 to $192.00 in a research report on Tuesday, July 12th. Finally, StockNews.com upgraded shares of Hubbell from a hold rating to a buy rating in a research report on Saturday, April 30th.
Hubbell Stock Up 0.9 %
Shares of NYSE HUBB opened at $195.53 on Tuesday. The firm’s 50-day simple moving average is $186.43 and its 200 day simple moving average is $187.30. The company has a market cap of $10.49 billion, a price-to-earnings ratio of 21.32, a price-to-earnings-growth ratio of 2.07 and a beta of 1.11. The company has a quick ratio of 1.27, a current ratio of 2.00 and a debt-to-equity ratio of 0.65. Hubbell has a 12-month low of $170.21 and a 12-month high of $212.54.
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Hubbell (NYSE:HUBB – Get Rating) last issued its quarterly earnings results on Tuesday, April 26th. The industrial products company reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.86 by $0.26. The business had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.09 billion. Hubbell had a net margin of 10.77% and a return on equity of 21.89%. The firm’s quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.72 EPS. On average, research analysts expect that Hubbell will post 9.36 earnings per share for the current fiscal year.
Hubbell Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Wednesday, August 31st will be issued a dividend of $1.05 per share. The ex-dividend date is Tuesday, August 30th. This represents a $4.20 annualized dividend and a yield of 2.15%. Hubbell’s dividend payout ratio is currently 45.80%.
Insiders Place Their Bets
In other Hubbell news, Director Carlos M. Cardoso sold 749 shares of the business’s stock in a transaction dated Monday, May 16th. The stock was sold at an average price of $193.73, for a total transaction of $145,103.77. Following the completion of the sale, the director now directly owns 1,744 shares of the company’s stock, valued at approximately $337,865.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.82% of the company’s stock.
Institutional Trading of Hubbell
Several institutional investors and hedge funds have recently added to or reduced their stakes in HUBB. Blair William & Co. IL increased its stake in shares of Hubbell by 0.5% in the 1st quarter. Blair William & Co. IL now owns 22,986 shares of the industrial products company’s stock valued at $4,224,000 after acquiring an additional 120 shares during the last quarter. Ethic Inc. increased its stake in shares of Hubbell by 6.2% in the 1st quarter. Ethic Inc. now owns 2,122 shares of the industrial products company’s stock valued at $390,000 after acquiring an additional 123 shares during the last quarter. First Manhattan Co. bought a new stake in shares of Hubbell in the 1st quarter valued at about $28,000. Federated Hermes Inc. increased its stake in shares of Hubbell by 1.8% in the 1st quarter. Federated Hermes Inc. now owns 9,782 shares of the industrial products company’s stock valued at $1,798,000 after acquiring an additional 171 shares during the last quarter. Finally, Covestor Ltd increased its stake in shares of Hubbell by 137.3% in the 1st quarter. Covestor Ltd now owns 522 shares of the industrial products company’s stock valued at $96,000 after acquiring an additional 302 shares during the last quarter. 86.37% of the stock is owned by institutional investors.
About Hubbell
Hubbell Incorporated, together with its subsidiaries, designs, manufactures, and sells electrical and electronic products in the United States and internationally. It operates through two segments, Electrical Solution and Utility Solution. 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 for the natural gas distribution market.
See Also
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