Mizuho Issues Positive Forecast for Hubbell (NYSE:HUBB) Stock Price

Hubbell (NYSE:HUBB) had its target price boosted by equities research analysts at Mizuho from $480.00 to $500.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has an “outperform” rating on the industrial products company’s stock. Mizuho’s price objective points to a potential upside of 8.08% from the company’s current price.

HUBB has been the subject of a number of other reports. JPMorgan Chase & Co. increased their price target on Hubbell from $417.00 to $458.00 and gave the company a “neutral” rating in a research note on Wednesday, October 15th. Wall Street Zen cut Hubbell from a “strong-buy” rating to a “buy” rating in a research note on Monday, December 29th. Evercore ISI initiated coverage on Hubbell in a report on Monday, December 15th. They set an “outperform” rating and a $575.00 target price on the stock. Stephens reissued an “overweight” rating and issued a $500.00 price target on shares of Hubbell in a report on Thursday, September 11th. Finally, Barclays lifted their price objective on shares of Hubbell from $431.00 to $456.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 29th. Five investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $491.29.

Hubbell Stock Performance

Shares of HUBB opened at $462.61 on Monday. The firm has a market capitalization of $24.59 billion, a PE ratio of 28.70, a P/E/G ratio of 2.34 and a beta of 1.02. The company has a quick ratio of 0.85, a current ratio of 1.36 and a debt-to-equity ratio of 0.28. The firm has a 50-day moving average price of $444.08 and a 200 day moving average price of $432.75. Hubbell has a 52-week low of $299.42 and a 52-week high of $484.26.

Hubbell (NYSE:HUBB) last issued its quarterly earnings results on Tuesday, October 28th. The industrial products company reported $5.17 earnings per share for the quarter, topping analysts’ consensus estimates of $4.98 by $0.19. Hubbell had a net margin of 15.24% and a return on equity of 27.68%. The company had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.54 billion. During the same period in the prior year, the business posted $4.49 EPS. The business’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. On average, sell-side analysts anticipate that Hubbell will post 17.63 earnings per share for the current fiscal year.

Insider Buying and Selling at Hubbell

In other news, Director John F. Malloy acquired 435 shares of the firm’s stock in a transaction that occurred on Monday, November 17th. The stock was purchased at an average price of $429.24 per share, with a total value of $186,719.40. Following the purchase, the director owned 19,085 shares of the company’s stock, valued at approximately $8,192,045.40. This trade represents a 2.33% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Mark Eugene Mikes sold 2,470 shares of Hubbell stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $466.50, for a total transaction of $1,152,255.00. Following the transaction, the insider owned 4,785 shares in the company, valued at approximately $2,232,202.50. The trade was a 34.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.76% of the company’s stock.

Institutional Trading of Hubbell

Several hedge funds and other institutional investors have recently modified their holdings of HUBB. Alliancebernstein L.P. lifted its stake in Hubbell by 13.4% in the 1st quarter. Alliancebernstein L.P. now owns 85,287 shares of the industrial products company’s stock worth $28,222,000 after acquiring an additional 10,105 shares in the last quarter. Millennium Management LLC increased its holdings in shares of Hubbell by 12.7% in the 1st quarter. Millennium Management LLC now owns 141,120 shares of the industrial products company’s stock valued at $46,698,000 after purchasing an additional 15,933 shares during the period. Nissay Asset Management Corp Japan ADV lifted its position in shares of Hubbell by 1.2% in the first quarter. Nissay Asset Management Corp Japan ADV now owns 6,595 shares of the industrial products company’s stock worth $2,182,000 after purchasing an additional 80 shares in the last quarter. Scientech Research LLC boosted its holdings in shares of Hubbell by 59.7% during the first quarter. Scientech Research LLC now owns 1,905 shares of the industrial products company’s stock worth $630,000 after purchasing an additional 712 shares during the period. Finally, UniSuper Management Pty Ltd boosted its holdings in shares of Hubbell by 18.5% during the first quarter. UniSuper Management Pty Ltd now owns 6,826 shares of the industrial products company’s stock worth $2,259,000 after purchasing an additional 1,065 shares during the period. Institutional investors and hedge funds own 88.16% of the company’s stock.

Hubbell Company Profile

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.