Hubbell (NYSE:HUBB) Stock Moved Up to “Hold” by Wells Fargo & Company

Wells Fargo & Company upgraded shares of Hubbell (NYSE:HUBB) to a hold rating in a research report released on Thursday,Zacks reports.

HUBB has been the topic of several other research reports. UBS Group reissued a “neutral” rating and set a $515.00 price objective on shares of Hubbell in a report on Tuesday, June 16th. Wall Street Zen cut Hubbell from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Sanford C. Bernstein reiterated an “outperform” rating on shares of Hubbell in a research note on Wednesday, July 29th. Weiss Ratings downgraded shares of Hubbell from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, July 14th. Finally, Morgan Stanley boosted their price target on shares of Hubbell from $565.00 to $575.00 and gave the company an “equal weight” rating in a report on Wednesday, September 2nd. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $551.78.

Hubbell Stock Up 0.1%

NYSE HUBB opened at $466.21 on Thursday. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.93 and a current ratio of 1.61. The firm has a 50-day simple moving average of $474.06 and a 200 day simple moving average of $489.37. Hubbell has a twelve month low of $403.82 and a twelve month high of $565.50. The stock has a market cap of $24.63 billion, a PE ratio of 27.60, a PEG ratio of 2.28 and a beta of 0.89.

Hubbell (NYSE:HUBB) last issued its quarterly earnings results on Tuesday, July 28th. The industrial products company reported $5.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.39 by $0.13. The firm had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.66 billion. Hubbell had a return on equity of 27.11% and a net margin of 14.49%.The company’s quarterly revenue was up 15.3% compared to the same quarter last year. During the same period in the previous year, the company posted $4.93 earnings per share. Hubbell has set its FY 2026 guidance at 20.250-20.550 EPS. On average, research analysts forecast that Hubbell will post 20.43 EPS for the current year.

Hubbell Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st were issued a $1.42 dividend. The ex-dividend date of this dividend was Monday, August 31st. This represents a $5.68 dividend on an annualized basis and a dividend yield of 1.2%. Hubbell’s dividend payout ratio is presently 33.63%.

Insider Activity at Hubbell

In related news, VP Jonathan Del Nero sold 547 shares of the firm’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $518.56, for a total transaction of $283,652.32. Following the completion of the transaction, the vice president owned 2,933 shares in the company, valued at $1,520,936.48. This trade represents a 15.72% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.63% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. BlackRock Inc. bought a new position in shares of Hubbell during the second quarter valued at $2,455,986,000. Bank of New York Mellon Corp bought a new position in shares of Hubbell in the second quarter valued at approximately $783,142,000. Deutsche Bank AG bought a new position in shares of Hubbell in the second quarter valued at approximately $610,053,000. Bank of America Corp DE acquired a new position in shares of Hubbell in the 2nd quarter worth approximately $204,918,000. Finally, Man Group plc acquired a new position in shares of Hubbell in the 2nd quarter worth approximately $179,698,000. 88.16% of the stock is currently owned by institutional investors and hedge funds.

Hubbell Company Profile

Hubbell Incorporated (NYSE: HUBB) is a manufacturer of electrical and utility products used to build, connect, protect and maintain electrical systems. The company serves electric utilities, electrical contractors, distributors, telecommunications providers, industrial businesses and commercial customers.

Hubbell operates through two principal business areas: Utility Solutions and Electrical Solutions. Its product portfolio includes components for electric transmission, distribution and substation applications, as well as connectors, insulators, arresters, grounding and bonding equipment, wiring devices, lighting products, enclosures and other electrical system products.