Hubbell (NYSE:HUBB) Upgraded to “Strong-Buy” at Wall Street Zen

Wall Street Zen upgraded shares of Hubbell (NYSE:HUBB) from a buy rating to a strong-buy rating in a research note released on Sunday morning.

A number of other equities analysts also recently commented on HUBB. Wells Fargo & Company increased their price objective on shares of Hubbell from $490.00 to $500.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 29th. UBS Group reissued a “neutral” rating and set a $450.00 price target on shares of Hubbell in a research report on Friday, December 12th. Mizuho raised their price target on Hubbell from $475.00 to $480.00 and gave the company an “outperform” rating in a research note on Friday, October 17th. Barclays upped their price objective on Hubbell from $431.00 to $456.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 29th. Finally, JPMorgan Chase & Co. increased their price objective on Hubbell from $417.00 to $458.00 and gave the company a “neutral” rating in a report on Wednesday, October 15th. Five investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $488.43.

Hubbell Price Performance

Shares of HUBB opened at $442.37 on Friday. The company has a quick ratio of 0.85, a current ratio of 1.36 and a debt-to-equity ratio of 0.28. Hubbell has a twelve month low of $299.42 and a twelve month high of $484.26. The stock has a market capitalization of $23.51 billion, a P/E ratio of 27.44, a P/E/G ratio of 2.44 and a beta of 1.01. The company has a 50 day moving average of $439.45 and a 200-day moving average of $428.41.

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

Hubbell Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Friday, November 28th were paid a dividend of $1.42 per share. The ex-dividend date was Friday, November 28th. This represents a $5.68 dividend on an annualized basis and a dividend yield of 1.3%. This is a boost from Hubbell’s previous quarterly dividend of $1.32. Hubbell’s dividend payout ratio is 35.24%.

Insider Activity at Hubbell

In related news, Director John F. Malloy bought 435 shares of Hubbell stock in a transaction dated Monday, November 17th. The shares were bought at an average cost of $429.24 per share, with a total value of $186,719.40. Following the acquisition, the director owned 19,085 shares in the company, valued at $8,192,045.40. This trade represents a 2.33% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, 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 value of $945,813.52. Following the completion of the transaction, the insider owned 3,243 shares in the company, valued at $1,525,247.76. The trade was a 38.28% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.76% of the stock is currently owned by corporate insiders.

Institutional Trading of Hubbell

A number of hedge funds have recently added to or reduced their stakes in HUBB. Townsquare Capital LLC raised its position in Hubbell by 0.8% in the third quarter. Townsquare Capital LLC now owns 2,817 shares of the industrial products company’s stock valued at $1,212,000 after purchasing an additional 22 shares during the last quarter. Unique Wealth LLC lifted its holdings in Hubbell by 2.6% during the 3rd quarter. Unique Wealth LLC now owns 897 shares of the industrial products company’s stock worth $386,000 after buying an additional 23 shares during the period. Benjamin Edwards Inc. grew its position in shares of Hubbell by 2.0% in the 2nd quarter. Benjamin Edwards Inc. now owns 1,237 shares of the industrial products company’s stock valued at $505,000 after buying an additional 24 shares during the last quarter. Blue Trust Inc. increased its stake in shares of Hubbell by 5.5% in the third quarter. Blue Trust Inc. now owns 480 shares of the industrial products company’s stock valued at $207,000 after buying an additional 25 shares during the period. Finally, Quest Investment Management LLC increased its position in Hubbell by 1.3% during the 3rd quarter. Quest Investment Management LLC now owns 1,895 shares of the industrial products company’s stock valued at $816,000 after purchasing an additional 25 shares during the period. Institutional investors and hedge funds own 88.16% of the company’s stock.

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.