Hubbell (NYSE:HUBB) Now Covered by Analysts at Evercore ISI

Evercore ISI started coverage on shares of Hubbell (NYSE:HUBB) in a research report report published on Monday, Marketbeat reports. The brokerage issued an outperform rating and a $575.00 price target on the industrial products company’s stock.

Several other research firms also recently issued reports on HUBB. Mizuho boosted their price objective on Hubbell from $475.00 to $480.00 and gave the company an “outperform” rating in a report on Friday, October 17th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Hubbell in a research report on Wednesday, October 8th. Stephens reissued an “overweight” rating and set a $500.00 price target on shares of Hubbell in a research report on Thursday, September 11th. UBS Group reissued a “neutral” rating and issued a $450.00 price objective on shares of Hubbell in a research note on Friday. Finally, Wall Street Zen downgraded shares of Hubbell from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Five analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Hubbell has an average rating of “Moderate Buy” and a consensus price target of $488.43.

Hubbell Stock Performance

Shares of HUBB stock opened at $438.70 on Monday. The firm’s 50 day moving average price is $438.27 and its 200-day moving average price is $427.40. 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 has a one year low of $299.42 and a one year high of $484.26. The firm has a market cap of $23.32 billion, a P/E ratio of 27.21, a P/E/G ratio of 2.45 and a beta of 1.01.

Hubbell (NYSE:HUBB) last posted its 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 firm had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.54 billion. During the same quarter last year, the firm earned $4.49 EPS. The firm’s revenue for the quarter was up 4.1% on a year-over-year basis. Hubbell has set its FY 2025 guidance at 18.100-18.30 EPS. As a group, equities research analysts predict that Hubbell will post 17.63 EPS for the current year.

Hubbell Increases Dividend

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

Insider Buying and Selling

In other Hubbell news, insider Mark Eugene Mikes sold 2,470 shares of the business’s stock in a transaction that occurred on 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 transaction, the insider owned 4,785 shares in the company, valued at $2,232,202.50. The trade was a 34.05% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Alyssa R. Flynn sold 2,011 shares of the stock in a transaction that occurred on Monday, November 3rd. The shares were 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 in the company, valued at approximately $1,525,247.76. This represents a 38.28% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.76% of the company’s stock.

Institutional Investors Weigh In On Hubbell

Institutional investors have recently modified their holdings of the company. Central Pacific Bank Trust Division acquired a new stake in Hubbell in the second quarter valued at $29,000. Hantz Financial Services Inc. boosted its position in shares of Hubbell by 141.4% during the 3rd quarter. Hantz Financial Services Inc. now owns 70 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 41 shares in the last quarter. Measured Wealth Private Client Group LLC purchased a new position in shares of Hubbell in the 3rd quarter valued at about $33,000. Cullen Frost Bankers Inc. increased its holdings in shares of Hubbell by 400.0% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 85 shares of the industrial products company’s stock valued at $35,000 after acquiring an additional 68 shares during the last quarter. Finally, Mather Group LLC. acquired a new stake in shares of Hubbell during the 3rd quarter worth about $37,000. 88.16% of the stock is owned by hedge funds and other institutional investors.

Hubbell Company Profile

Hubbell Incorporated, together with its subsidiaries, designs, manufactures, and sells electrical and utility solutions in the United States and internationally. It operates through two segments, Electrical Solutions and Utility Solutions. The Electrical Solution segment offers standard and special application wiring device products, rough-in electrical products, connector and grounding products, lighting fixtures, and other electrical equipment for use in industrial, commercial, and institutional facilities by electrical contractors, maintenance personnel, electricians, utilities, and telecommunications companies, as well as components and assemblies.