Hubbell (NYSE:HUBB) Upgraded to “Overweight” at Wells Fargo & Company

Wells Fargo & Company upgraded shares of Hubbell (NYSE:HUBB) from an equal weight rating to an overweight rating in a report released on Tuesday morning, Marketbeat.com reports. They currently have $490.00 target price on the industrial products company’s stock, up from their previous target price of $445.00.

A number of other research firms have also issued reports on HUBB. Wall Street Zen raised shares of Hubbell from a “hold” rating to a “buy” rating in a research report on Saturday, August 2nd. JPMorgan Chase & Co. raised their price target on shares of Hubbell from $352.00 to $417.00 and gave the stock a “neutral” rating in a research report on Friday, May 16th. Finally, Barclays raised their price target on shares of Hubbell from $420.00 to $431.00 and gave the stock an “equal weight” rating in a research report on Friday, August 1st. Three research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $468.71.

Hubbell Stock Performance

Shares of Hubbell stock opened at $430.66 on Tuesday. The firm has a market capitalization of $22.89 billion, a P/E ratio of 27.96, a PEG ratio of 2.41 and a beta of 0.99. The company has a quick ratio of 0.76, a current ratio of 1.30 and a debt-to-equity ratio of 0.30. The company has a 50 day moving average price of $426.38 and a 200 day moving average price of $385.36. Hubbell has a 52 week low of $299.42 and a 52 week high of $481.35.

Hubbell (NYSE:HUBB) last announced its quarterly earnings data on Tuesday, July 29th. The industrial products company reported $4.93 EPS for the quarter, beating the consensus estimate of $4.36 by $0.57. Hubbell had a net margin of 14.76% and a return on equity of 27.63%. The firm had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.51 billion. Hubbell has set its FY 2025 guidance at 17.650-18.15 EPS. Sell-side analysts expect that Hubbell will post 17.63 EPS for the current year.

Hubbell Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 29th will be paid a dividend of $1.32 per share. This represents a $5.28 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Friday, August 29th. Hubbell’s payout ratio is 34.29%.

Institutional Investors Weigh In On Hubbell

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Central Pacific Bank Trust Division acquired a new stake in Hubbell during the 2nd quarter worth $29,000. Cullen Frost Bankers Inc. raised its holdings in shares of Hubbell by 400.0% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 85 shares of the industrial products company’s stock worth $35,000 after acquiring an additional 68 shares during the period. Tsfg LLC purchased a new position in shares of Hubbell during the 1st quarter worth $30,000. Johnson Financial Group Inc. raised its holdings in shares of Hubbell by 185.4% during the 2nd quarter. Johnson Financial Group Inc. now owns 137 shares of the industrial products company’s stock worth $56,000 after acquiring an additional 89 shares during the period. Finally, CYBER HORNET ETFs LLC purchased a new position in shares of Hubbell during the 2nd quarter worth $57,000. Institutional investors and hedge funds own 88.16% of the company’s stock.

Hubbell Company Profile

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.