Recent Investment Analysts’ Ratings Changes for Hubbell (HUBB)

Hubbell (NYSE: HUBB) recently received a number of ratings updates from brokerages and research firms:

• 11/5/2024 – Hubbell is now covered by analysts at Sanford C. Bernstein. They set an “outperform” rating and a $535.00 price target on the stock.
• 11/5/2024 – Hubbell was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
• 10/30/2024 – Hubbell had its price target raised by analysts at Morgan Stanley from $407.00 to $445.00. They now have an “equal weight” rating on the stock.
• 10/30/2024 – Hubbell had its price target raised by analysts at Barclays PLC from $400.00 to $402.00. They now have an “equal weight” rating on the stock.
• 10/30/2024 – Hubbell had its price target raised by analysts at Wells Fargo & Company from $445.00 to $455.00. They now have an “equal weight” rating on the stock.
• 10/17/2024 – Hubbell had its price target raised by analysts at Mizuho from $450.00 to $490.00. They now have an “outperform” rating on the stock.
• 10/10/2024 – Hubbell was downgraded by analysts at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating. They now have a $454.00 price target on the stock, up previously from $385.00.
• 10/7/2024 – Hubbell had its price target raised by analysts at Wells Fargo & Company from $400.00 to $445.00. They now have an “equal weight” rating on the stock.
• 10/2/2024 – Hubbell had its price target raised by analysts at Barclays PLC from $368.00 to $400.00. They now have an “equal weight” rating on the stock.

Hubbell Stock Performance

HUBB stock traded down $13.72 during trading hours on Thursday, reaching $440.07. The stock had a trading volume of 365,644 shares, compared to its average volume of 444,257. The stock has a market capitalization of $23.62 billion, a PE ratio of 31.71, a price-to-earnings-growth ratio of 1.68 and a beta of 0.90. The stock has a 50-day simple moving average of $432.35 and a 200 day simple moving average of $399.10. Hubbell Incorporated has a fifty-two week low of $287.06 and a fifty-two week high of $481.35. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.66 and a quick ratio of 1.05.

Hubbell (NYSE:HUBB) last posted its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $4.49 earnings per share for the quarter, beating analysts’ consensus estimates of $4.47 by $0.02. The business had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.48 billion. Hubbell had a return on equity of 28.81% and a net margin of 13.33%. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.95 EPS. Analysts predict that Hubbell Incorporated will post 16.47 EPS for the current fiscal year.

Hubbell Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be given a $1.32 dividend. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.20%. This is an increase from Hubbell’s previous quarterly dividend of $1.22. The ex-dividend date of this dividend is Friday, November 29th. Hubbell’s payout ratio is presently 38.04%.

Insiders Place Their Bets

In related news, insider Mark Eugene Mikes sold 1,144 shares of the company’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $466.20, for a total transaction of $533,332.80. Following the completion of the sale, the insider now directly owns 2,957 shares in the company, valued at $1,378,553.40. This represents a 27.90 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.66% of the company’s stock.

Institutional Investors Weigh In On Hubbell

Several hedge funds have recently modified their holdings of the company. Eventide Asset Management LLC bought a new position in Hubbell during the 3rd quarter worth $1,128,000. Verition Fund Management LLC boosted its holdings in Hubbell by 406.6% in the third quarter. Verition Fund Management LLC now owns 21,610 shares of the industrial products company’s stock valued at $9,257,000 after acquiring an additional 17,344 shares during the last quarter. Walleye Capital LLC increased its position in Hubbell by 2,928.6% during the 3rd quarter. Walleye Capital LLC now owns 41,340 shares of the industrial products company’s stock valued at $17,708,000 after purchasing an additional 39,975 shares during the period. Vinva Investment Management Ltd bought a new position in Hubbell during the 3rd quarter worth approximately $773,000. Finally, Public Sector Pension Investment Board lifted its position in shares of Hubbell by 14.6% in the 3rd quarter. Public Sector Pension Investment Board now owns 2,348 shares of the industrial products company’s stock worth $1,006,000 after purchasing an additional 300 shares during the period. Institutional investors and hedge funds own 88.16% of the company’s stock.

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.