Hubbell (NYSE:HUBB) Reaches New 1-Year High – Time to Buy?

Hubbell Inc (NYSE:HUBB) hit a new 52-week high on Thursday . The company traded as high as $486.68 and last traded at $483.4540, with a volume of 6516 shares changing hands. The stock had previously closed at $476.06.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on HUBB. Wall Street Zen lowered Hubbell from a “strong-buy” rating to a “buy” rating in a research note on Monday, December 29th. Morgan Stanley set a $515.00 target price on shares of Hubbell in a report on Wednesday, January 7th. UBS Group reissued a “neutral” rating and set a $450.00 target price on shares of Hubbell in a research report on Friday, December 12th. Barclays upped their price target on shares of Hubbell from $456.00 to $465.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 7th. Finally, Wells Fargo & Company increased their price objective on shares of Hubbell from $500.00 to $515.00 and gave the company an “overweight” rating in a research note on Wednesday, January 7th. Five equities research 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, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $497.25.

Hubbell Stock Up 1.8%

The company’s fifty day simple moving average is $445.59 and its 200-day simple moving average is $436.50. The firm has a market capitalization of $25.77 billion, a PE ratio of 30.12, a price-to-earnings-growth ratio of 2.44 and a beta of 1.02. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.36 and a quick ratio of 0.85.

Hubbell (NYSE:HUBB) last issued its quarterly earnings data on Tuesday, October 28th. The industrial products company reported $5.17 EPS for the quarter, beating 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 quarter 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, analysts forecast that Hubbell Inc will post 17.63 EPS for the current year.

Hubbell Increases Dividend

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

Insider Activity

In other Hubbell news, insider Alyssa R. Flynn sold 2,011 shares of the company’s 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 transaction, the insider owned 3,243 shares in the company, valued at approximately $1,525,247.76. This represents a 38.28% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Mark Eugene Mikes sold 2,470 shares of the firm’s stock in a transaction 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 completion of the transaction, the insider directly owned 4,785 shares of the company’s stock, valued at approximately $2,232,202.50. This represents a 34.05% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.66% of the company’s stock.

Institutional Trading of Hubbell

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Hubbell by 0.3% during the second quarter. Vanguard Group Inc. now owns 6,646,922 shares of the industrial products company’s stock worth $2,714,669,000 after purchasing an additional 21,508 shares during the period. State Street Corp increased its stake in shares of Hubbell by 3.6% in the 3rd quarter. State Street Corp now owns 2,261,944 shares of the industrial products company’s stock valued at $973,337,000 after purchasing an additional 78,539 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Hubbell by 15.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,655,746 shares of the industrial products company’s stock worth $712,484,000 after buying an additional 226,856 shares during the period. Invesco Ltd. lifted its holdings in Hubbell by 0.6% during the second quarter. Invesco Ltd. now owns 1,532,035 shares of the industrial products company’s stock valued at $625,698,000 after purchasing an additional 9,697 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Hubbell by 1.8% in the 2nd quarter. Geode Capital Management LLC now owns 1,353,824 shares of the industrial products company’s stock worth $550,571,000 after buying an additional 24,110 shares during the last quarter. 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.