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

Hubbell (NYSE:HUBB) had its price objective boosted by equities research analysts at Mizuho from $480.00 to $500.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has an “outperform” rating on the industrial products company’s stock. Mizuho’s price objective points to a potential upside of 8.08% from the stock’s current price.

Several other analysts also recently commented on the stock. Wells Fargo & Company boosted their target price on shares of Hubbell from $490.00 to $500.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 29th. Barclays increased their target price on shares of Hubbell from $431.00 to $456.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 29th. Stephens restated an “overweight” rating and set a $500.00 target price on shares of Hubbell in a report on Thursday, September 11th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Hubbell in a research note on Wednesday, October 8th. Finally, Wall Street Zen lowered Hubbell from a “strong-buy” rating to a “buy” rating in a report on Monday, December 29th. Five analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $491.29.

Hubbell Price Performance

HUBB opened at $462.61 on Monday. The stock has a fifty day moving average price of $444.08 and a 200 day moving average price of $432.75. 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 has a 1 year low of $299.42 and a 1 year high of $484.26. The stock has a market cap of $24.59 billion, a price-to-earnings ratio of 28.70, a PEG ratio of 2.34 and a beta of 1.02.

Hubbell (NYSE:HUBB) last posted its quarterly earnings results 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 company had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.54 billion. Hubbell had a return on equity of 27.68% and a net margin of 15.24%.The business’s quarterly revenue was up 4.1% on a year-over-year basis. During the same period last year, the business earned $4.49 EPS. Hubbell has set its FY 2025 guidance at 18.100-18.30 EPS. Analysts forecast that Hubbell will post 17.63 EPS for the current fiscal year.

Insider Buying and Selling

In other 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 transaction of $945,813.52. Following the completion of the transaction, the insider directly owned 3,243 shares in the company, valued at $1,525,247.76. The trade was a 38.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, 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 sale, the insider owned 4,785 shares in the company, valued at approximately $2,232,202.50. The trade was a 34.05% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.76% of the stock is owned by insiders.

Institutional Trading of Hubbell

A number of hedge funds have recently bought and sold shares of HUBB. McKinley Carter Wealth Services Inc. grew its position in shares of Hubbell by 16.7% during the 2nd quarter. McKinley Carter Wealth Services Inc. now owns 19,829 shares of the industrial products company’s stock worth $8,098,000 after buying an additional 2,843 shares during the period. Belpointe Asset Management LLC acquired a new position in Hubbell in the second quarter valued at approximately $320,000. Venturi Wealth Management LLC bought a new position in Hubbell in the second quarter valued at approximately $490,000. Zurich Insurance Group Ltd FI acquired a new stake in Hubbell during the 1st quarter worth $1,423,000. Finally, Beacon Financial Group bought a new stake in shares of Hubbell during the 2nd quarter valued at $262,000. 88.16% of the stock is owned by institutional investors.

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.