Hubbell (NYSE:HUBB) Price Target Raised to $500.00

Hubbell (NYSE:HUBB) had its target price lifted by Mizuho from $480.00 to $500.00 in a research report sent to investors on Monday, Marketbeat reports. Mizuho currently has an outperform rating on the industrial products company’s stock.

HUBB has been the topic of a number of other research reports. Stephens reaffirmed an “overweight” rating and set a $500.00 price target on shares of Hubbell in a report on Thursday, September 11th. Wall Street Zen cut Hubbell from a “strong-buy” rating to a “buy” rating in a research report on Monday, December 29th. Evercore ISI started coverage on Hubbell in a research note on Monday, December 15th. They set an “outperform” rating and a $575.00 target price on the stock. UBS Group reiterated a “neutral” rating and set a $450.00 price target on shares of Hubbell in a research report on Friday, December 12th. Finally, JPMorgan Chase & Co. raised their price target on Hubbell from $417.00 to $458.00 and gave the company a “neutral” rating in a report on Wednesday, October 15th. Five research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $497.25.

Hubbell Stock Performance

Shares of HUBB opened at $467.96 on Monday. The firm has a fifty day moving average of $445.07 and a 200-day moving average of $434.04. The company has a market cap of $24.87 billion, a price-to-earnings ratio of 29.03, a price-to-earnings-growth ratio of 2.42 and a beta of 1.02. 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 1 year low of $299.42 and a 1 year high of $484.26.

Hubbell (NYSE:HUBB) last released its quarterly earnings data 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. The business had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.54 billion. Hubbell had a net margin of 15.24% and a return on equity of 27.68%. The company’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same quarter last year, the company earned $4.49 EPS. Hubbell has set its FY 2025 guidance at 18.100-18.30 EPS. As a group, equities analysts anticipate that Hubbell will post 17.63 earnings per share for the current year.

Hubbell Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Friday, November 28th were paid a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend was Friday, November 28th. This is a positive change from Hubbell’s previous quarterly dividend of $1.32. Hubbell’s dividend payout ratio (DPR) is currently 35.24%.

Insiders Place Their Bets

In related news, insider Alyssa R. Flynn sold 2,011 shares of the firm’s stock in a transaction 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 sale, the insider directly owned 3,243 shares in the company, valued at $1,525,247.76. This trade represents a 38.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Mark Eugene Mikes sold 2,470 shares of the business’s stock in a transaction 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 sale, the insider directly owned 4,785 shares in the company, valued at $2,232,202.50. This represents a 34.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.66% of the company’s stock.

Hedge Funds Weigh In On Hubbell

Several hedge funds have recently modified their holdings of HUBB. Central Pacific Bank Trust Division acquired a new position in Hubbell during the second quarter valued at approximately $29,000. Hantz Financial Services Inc. raised its stake 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 purchasing an additional 41 shares in the last quarter. Harbor Investment Advisory LLC boosted its holdings in shares of Hubbell by 630.0% in the 4th quarter. Harbor Investment Advisory LLC now owns 73 shares of the industrial products company’s stock valued at $32,000 after buying an additional 63 shares during the last quarter. Measured Wealth Private Client Group LLC bought a new position in shares of Hubbell in the third quarter valued at $33,000. Finally, Cullen Frost Bankers Inc. grew 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 valued at $35,000 after buying an additional 68 shares in the last quarter. 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.