Hubbell Inc (NYSE:HUBB) Receives $488.43 Average Price Target from Analysts

Hubbell Inc (NYSE:HUBB) has received a consensus recommendation of “Moderate Buy” from the eight ratings firms that are covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $488.4286.

A number of research analysts recently weighed in on HUBB shares. Wall Street Zen downgraded shares of Hubbell from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 13th. JPMorgan Chase & Co. upped their target price on shares of Hubbell from $417.00 to $458.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 15th. UBS Group reissued a “neutral” rating and set a $450.00 price target on shares of Hubbell in a research report on Friday, December 12th. Barclays boosted their price objective on shares of Hubbell from $431.00 to $456.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 29th. Finally, Mizuho lifted their target price on Hubbell from $475.00 to $480.00 and gave the stock an “outperform” rating in a report on Friday, October 17th.

Insider Transactions at Hubbell

In other news, insider Mark Eugene Mikes sold 2,470 shares of the stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $466.50, for a total value of $1,152,255.00. Following the completion of the sale, the insider directly owned 4,785 shares of the company’s stock, valued at $2,232,202.50. This represents a 34.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John F. Malloy acquired 435 shares of the firm’s stock in a transaction dated Monday, November 17th. The shares were purchased at an average price of $429.24 per share, for a total transaction of $186,719.40. Following the completion of the transaction, the director directly owned 19,085 shares in the company, valued at approximately $8,192,045.40. This trade represents a 2.33% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Company insiders own 0.66% of the company’s stock.

Institutional Trading of Hubbell

Several hedge funds have recently bought and sold shares of the stock. Central Pacific Bank Trust Division purchased a new position in shares of Hubbell in the 2nd quarter worth approximately $29,000. Hantz Financial Services Inc. lifted its position in Hubbell by 141.4% in the third quarter. Hantz Financial Services Inc. now owns 70 shares of the industrial products company’s stock worth $30,000 after buying an additional 41 shares during the last quarter. Measured Wealth Private Client Group LLC purchased a new position in Hubbell during the third quarter worth $33,000. Cullen Frost Bankers Inc. increased its position in Hubbell by 400.0% during the second quarter. Cullen Frost Bankers Inc. now owns 85 shares of the industrial products company’s stock valued at $35,000 after acquiring an additional 68 shares during the last quarter. Finally, Mather Group LLC. bought a new position in Hubbell during the third quarter valued at $37,000. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Hubbell Stock Up 1.2%

Shares of NYSE:HUBB opened at $434.63 on Tuesday. The firm has a fifty day moving average of $438.78 and a 200 day moving average of $427.47. Hubbell has a 52-week low of $299.42 and a 52-week high of $484.26. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.85 and a current ratio of 1.36. The firm has a market capitalization of $23.10 billion, a PE ratio of 26.96, a price-to-earnings-growth ratio of 2.37 and a beta of 1.01.

Hubbell (NYSE:HUBB) last posted its quarterly earnings results on Tuesday, October 28th. The industrial products company reported $5.17 earnings per share (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 business had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.54 billion. During the same period last year, the company earned $4.49 EPS. Hubbell’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, research analysts anticipate that Hubbell will post 17.63 EPS for the current fiscal year.

Hubbell Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Friday, November 28th were paid a dividend of $1.42 per share. The ex-dividend date was Friday, November 28th. This represents a $5.68 dividend on an annualized basis and a yield of 1.3%. This is a boost from Hubbell’s previous quarterly dividend of $1.32. Hubbell’s dividend payout ratio (DPR) is presently 35.24%.

About Hubbell

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.