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

Hubbell (NYSE:HUBB) was downgraded by Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Monday.

A number of other analysts have also recently weighed in on the stock. UBS Group restated a “neutral” rating and issued a $450.00 price target on shares of Hubbell in a report on Friday, December 12th. JPMorgan Chase & Co. increased their target price on shares of Hubbell from $417.00 to $458.00 and gave the company a “neutral” rating in a research report on Wednesday, October 15th. Evercore ISI began coverage on shares of Hubbell in a research note on Monday, December 15th. They issued an “outperform” rating and a $575.00 target price for the company. Wells Fargo & Company lifted their price target on shares of Hubbell from $490.00 to $500.00 and gave the stock an “overweight” rating in a report on Wednesday, October 29th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Hubbell in a research report on Wednesday, October 8th. Five analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $488.43.

Hubbell Stock Down 1.0%

Shares of NYSE HUBB opened at $446.84 on Monday. Hubbell has a 12-month low of $299.42 and a 12-month high of $484.26. The stock’s fifty day simple moving average is $442.85 and its two-hundred day simple moving average is $431.55. The stock has a market capitalization of $23.75 billion, a PE ratio of 27.72, a price-to-earnings-growth ratio of 2.49 and a beta of 1.01. The company has a current ratio of 1.36, a quick ratio of 0.85 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 EPS for the quarter, topping the consensus estimate of $4.98 by $0.19. Hubbell had a return on equity of 27.68% and a net margin of 15.24%.The firm had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.54 billion. During the same period in the previous year, the company 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. As a group, analysts expect that Hubbell will post 17.63 EPS for the current fiscal year.

Insider Activity

In related news, insider Alyssa R. Flynn sold 2,011 shares of the company’s stock in a transaction that occurred 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 sale, the insider owned 3,243 shares in the company, valued at $1,525,247.76. This represents a 38.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John F. Malloy purchased 435 shares of the business’s stock in a transaction that occurred on Monday, November 17th. The stock was acquired at an average price of $429.24 per share, for a total transaction 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 disclosure for this purchase is available in the SEC filing. Corporate insiders own 0.76% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Townsquare Capital LLC lifted its holdings in Hubbell by 0.8% during 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 in the last quarter. Unique Wealth LLC lifted its stake in Hubbell by 2.6% in the 3rd quarter. Unique Wealth LLC now owns 897 shares of the industrial products company’s stock valued at $386,000 after buying an additional 23 shares in the last quarter. Benjamin Edwards Inc. boosted its holdings in Hubbell by 2.0% in the 2nd quarter. Benjamin Edwards Inc. now owns 1,237 shares of the industrial products company’s stock worth $505,000 after buying an additional 24 shares during the last quarter. Blue Trust Inc. increased its stake in Hubbell by 5.5% during the 3rd quarter. Blue Trust Inc. now owns 480 shares of the industrial products company’s stock worth $207,000 after buying an additional 25 shares in the last quarter. Finally, Quest Investment Management LLC raised its holdings in shares of Hubbell by 1.3% during the third quarter. Quest Investment Management LLC now owns 1,895 shares of the industrial products company’s stock valued at $816,000 after acquiring an additional 25 shares during the last quarter. 88.16% of the stock is currently owned by hedge funds and other institutional investors.

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.