Evercore ISI Initiates Coverage on Hubbell (NYSE:HUBB)

Equities researchers at Evercore ISI began coverage on shares of Hubbell (NYSE:HUBB) in a report issued on Monday, MarketBeat reports. The firm set an “outperform” rating and a $575.00 price target on the industrial products company’s stock. Evercore ISI’s price objective would suggest a potential upside of 31.07% from the stock’s previous close.

A number of other analysts also recently weighed in on the stock. Mizuho upped their price target on shares of Hubbell from $475.00 to $480.00 and gave the stock an “outperform” rating in a report on Friday, October 17th. Stephens reaffirmed an “overweight” rating and issued a $500.00 target price on shares of Hubbell in a report on Thursday, September 11th. Weiss Ratings restated a “buy (b-)” rating on shares of Hubbell in a research report on Wednesday, October 8th. Wall Street Zen cut Hubbell from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Finally, JPMorgan Chase & Co. boosted their target price on Hubbell from $417.00 to $458.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 15th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $488.43.

Hubbell Stock Performance

HUBB opened at $438.70 on Monday. The firm has a market cap of $23.32 billion, a P/E ratio of 27.21, a price-to-earnings-growth ratio of 2.45 and a beta of 1.01. Hubbell has a 52-week low of $299.42 and a 52-week high of $484.26. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.85 and a current ratio of 1.36. The business’s fifty day moving average is $438.27 and its 200-day moving average is $427.40.

Hubbell (NYSE:HUBB) last posted its quarterly earnings results on Tuesday, October 28th. The industrial products company reported $5.17 EPS for the quarter, beating analysts’ consensus estimates of $4.98 by $0.19. Hubbell had a return on equity of 27.68% and a net margin of 15.24%.The business had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.54 billion. During the same quarter in the previous year, the firm earned $4.49 earnings per share. Hubbell’s revenue for the quarter was up 4.1% compared to the same quarter last year. Hubbell has set its FY 2025 guidance at 18.100-18.30 EPS. Sell-side analysts expect that Hubbell will post 17.63 EPS for the current fiscal year.

Insiders Place Their Bets

In other Hubbell news, insider Mark Eugene Mikes sold 2,470 shares of the stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $466.50, for a total value of $1,152,255.00. Following the completion of the transaction, the insider directly owned 4,785 shares in the company, valued at approximately $2,232,202.50. This trade represents a 34.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John F. Malloy purchased 435 shares of the business’s stock in a transaction dated Monday, November 17th. The shares were purchased at an average cost of $429.24 per share, for a total transaction of $186,719.40. Following the completion of the purchase, the director directly owned 19,085 shares of the company’s stock, valued at approximately $8,192,045.40. This represents a 2.33% increase in their position. The SEC filing for this purchase provides additional information. Insiders own 0.76% of the company’s stock.

Institutional Investors Weigh In On Hubbell

A number of institutional investors have recently added to or reduced their stakes in HUBB. Central Pacific Bank Trust Division bought a new position in shares of Hubbell during the second quarter valued at $29,000. Hantz Financial Services Inc. grew its position in shares of Hubbell by 141.4% in the 3rd quarter. Hantz Financial Services Inc. now owns 70 shares of the industrial products company’s stock valued at $30,000 after buying an additional 41 shares during the last quarter. Measured Wealth Private Client Group LLC bought a new stake in shares of Hubbell in the 3rd quarter valued at about $33,000. Cullen Frost Bankers Inc. increased its stake in shares of Hubbell by 400.0% in the second quarter. Cullen Frost Bankers Inc. now owns 85 shares of the industrial products company’s stock valued at $35,000 after buying an additional 68 shares during the period. Finally, Mather Group LLC. bought a new position in shares of Hubbell during the third quarter worth about $37,000. 88.16% of the stock is owned by institutional investors.

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.