Hubbell (NYSE:HUBB) Lowered to Buy Rating by Wall Street Zen

Wall Street Zen cut shares of Hubbell (NYSE:HUBB) from a strong-buy rating to a buy rating in a report released on Monday morning.

HUBB has been the topic of several other research reports. Evercore ISI initiated coverage on shares of Hubbell in a research report on Monday, December 15th. They set an “outperform” rating and a $575.00 price target on the stock. JPMorgan Chase & Co. lifted their price objective on Hubbell from $417.00 to $458.00 and gave the company a “neutral” rating in a research report on Wednesday, October 15th. Weiss Ratings reissued a “buy (b-)” rating on shares of Hubbell in a research report on Wednesday, October 8th. Mizuho raised their target price on Hubbell from $475.00 to $480.00 and gave the company an “outperform” rating in a research note on Friday, October 17th. Finally, UBS Group reaffirmed a “neutral” rating and issued a $450.00 price target on shares of Hubbell in a research note on Friday, December 12th. Five research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $488.43.

Hubbell Price Performance

Shares of Hubbell stock opened at $451.54 on Monday. The business has a 50 day moving average of $442.62 and a 200 day moving average of $431.09. Hubbell has a 52 week low of $299.42 and a 52 week high of $484.26. The company has a market cap of $24.00 billion, a PE ratio of 28.01, a P/E/G ratio of 2.50 and a beta of 1.01. 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 (NYSE:HUBB) last released its quarterly earnings results on Tuesday, October 28th. The industrial products company reported $5.17 earnings per share for the quarter, beating the consensus estimate of $4.98 by $0.19. Hubbell had a net margin of 15.24% and a return on equity of 27.68%. The business had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.54 billion. During the same quarter in the previous year, the business posted $4.49 earnings per share. The firm’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. As a group, equities research analysts forecast that Hubbell will post 17.63 earnings per share for the current year.

Hubbell Increases Dividend

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

Insider Buying and Selling

In other Hubbell news, insider Mark Eugene Mikes sold 2,470 shares of the firm’s stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $466.50, for a total transaction of $1,152,255.00. Following the completion of the sale, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John F. Malloy bought 435 shares of the firm’s stock in a transaction on Monday, November 17th. The stock was purchased at an average cost of $429.24 per share, with a total value of $186,719.40. Following the completion of the acquisition, the director directly owned 19,085 shares of the company’s stock, valued at approximately $8,192,045.40. The trade was a 2.33% increase in their position. The disclosure for this purchase is available in the SEC filing. 0.76% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Hubbell

Several institutional investors and hedge funds have recently made changes to their positions in the company. Central Pacific Bank Trust Division bought a new position in Hubbell in the 2nd quarter valued at approximately $29,000. Hantz Financial Services Inc. raised its stake in shares of Hubbell by 141.4% in the third quarter. Hantz Financial Services Inc. now owns 70 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 41 shares during the last quarter. Measured Wealth Private Client Group LLC purchased a new position in shares of Hubbell in the third quarter worth $33,000. Cullen Frost Bankers Inc. raised 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 worth $35,000 after purchasing an additional 68 shares during the last quarter. Finally, Mather Group LLC. bought a new position in shares of Hubbell during the third quarter valued at $37,000. Institutional investors 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.