Hubbell (NYSE:HUBB) Hits New 12-Month High – What’s Next?

Hubbell Inc (NYSE:HUBB)’s stock price reached a new 52-week high during trading on Thursday . The company traded as high as $486.68 and last traded at $483.4540, with a volume of 6516 shares trading hands. The stock had previously closed at $476.06.

Analyst Ratings Changes

HUBB has been the subject of several recent analyst reports. Mizuho raised their target price on shares of Hubbell from $480.00 to $500.00 and gave the company an “outperform” rating in a research note on Monday, January 5th. JPMorgan Chase & Co. raised their price target on Hubbell from $417.00 to $458.00 and gave the company a “neutral” rating in a research report on Wednesday, October 15th. Barclays lifted their price objective on Hubbell from $456.00 to $465.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 7th. Wall Street Zen lowered Hubbell from a “strong-buy” rating to a “buy” rating in a report on Monday, December 29th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Hubbell in a report on Wednesday, October 8th. Five research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Hubbell currently has an average rating of “Moderate Buy” and an average price target of $497.25.

Hubbell Stock Performance

The firm has a market capitalization of $25.77 billion, a price-to-earnings ratio of 30.12, a price-to-earnings-growth ratio of 2.44 and a beta of 1.02. The firm’s 50-day moving average price is $445.59 and its two-hundred day moving average price is $436.50. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.85 and a current ratio of 1.36.

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

Hubbell Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Friday, November 28th were given a dividend of $1.42 per share. This is an increase from Hubbell’s previous quarterly dividend of $1.32. The ex-dividend date was Friday, November 28th. This represents a $5.68 dividend on an annualized basis and a dividend yield of 1.2%. Hubbell’s dividend payout ratio is 35.24%.

Insider Buying and Selling at Hubbell

In related news, insider Alyssa R. Flynn sold 2,011 shares of the firm’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $470.32, for a total transaction of $945,813.52. Following the completion of the sale, the insider directly owned 3,243 shares of the company’s stock, valued at $1,525,247.76. This trade represents a 38.28% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Mark Eugene Mikes sold 2,470 shares of the business’s stock in a transaction on 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 represents a 34.05% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.66% of the company’s stock.

Institutional Trading of Hubbell

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. McKinley Carter Wealth Services Inc. increased its position in shares of Hubbell by 16.7% during the second quarter. McKinley Carter Wealth Services Inc. now owns 19,829 shares of the industrial products company’s stock worth $8,098,000 after acquiring an additional 2,843 shares during the period. Belpointe Asset Management LLC purchased a new stake in shares of Hubbell in the second quarter valued at approximately $320,000. Venturi Wealth Management LLC purchased a new stake in shares of Hubbell in the second quarter valued at approximately $490,000. Beacon Financial Group bought a new position in Hubbell in the second quarter worth approximately $262,000. Finally, Ilex Capital Partners UK LLP purchased a new position in Hubbell during the 2nd quarter worth $1,431,000. 88.16% of the stock is owned by institutional investors.

About Hubbell

Hubbell Incorporated (NYSE: HUBB) is an industrial manufacturer and distributor of electrical and electronic products serving a range of end markets including commercial and residential construction, industrial, and utility customers. Founded in 1888 by Harvey Hubbell, the company has a long history in electrical innovation and product development and is headquartered in Connecticut. Hubbell designs, manufactures and sells components and systems that enable the distribution and control of electrical power and provide lighting solutions for indoor and outdoor environments.

The company’s offerings span a broad portfolio of products used by contractors, utilities, original equipment manufacturers and facility owners.