Hubbell (NYSE:HUBB) Stock Rating Upgraded by Wall Street Zen

Hubbell (NYSE:HUBB) was upgraded by Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research note issued on Friday.

Several other equities analysts have also recently weighed in on HUBB. Barclays raised their price objective on Hubbell from $420.00 to $431.00 and gave the company an “equal weight” rating in a research note on Friday, August 1st. Stephens restated an “overweight” rating and set a $500.00 price objective on shares of Hubbell in a research note on Thursday, September 11th. Wells Fargo & Company upgraded Hubbell from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $445.00 to $490.00 in a research note on Tuesday, September 2nd. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Hubbell in a research note on Saturday, September 27th. Five analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $472.63.

Hubbell Price Performance

Shares of HUBB opened at $413.15 on Friday. Hubbell has a 12-month low of $299.42 and a 12-month high of $481.35. The business’s fifty day moving average is $432.84 and its 200 day moving average is $397.15. 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 stock has a market cap of $21.95 billion, a P/E ratio of 26.83, a P/E/G ratio of 2.31 and a beta of 0.96.

Hubbell (NYSE:HUBB) last issued its earnings results on Tuesday, July 29th. The industrial products company reported $4.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.36 by $0.57. Hubbell had a return on equity of 27.63% and a net margin of 14.76%.The company had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.51 billion. Hubbell has set its FY 2025 guidance at 17.650-18.15 EPS. Sell-side analysts anticipate that Hubbell will post 17.63 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Hubbell

Several large investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its position in shares of Hubbell by 0.3% during the 2nd quarter. Vanguard Group Inc. now owns 6,646,922 shares of the industrial products company’s stock valued at $2,714,669,000 after purchasing an additional 21,508 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Hubbell by 0.3% during the 1st quarter. Bank of New York Mellon Corp now owns 2,833,469 shares of the industrial products company’s stock valued at $937,623,000 after purchasing an additional 7,142 shares during the last quarter. State Street Corp increased its position in shares of Hubbell by 1.2% during the 2nd quarter. State Street Corp now owns 2,183,405 shares of the industrial products company’s stock valued at $891,724,000 after purchasing an additional 26,708 shares during the last quarter. Invesco Ltd. increased its position in shares of Hubbell by 0.6% during the 2nd 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 during the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Hubbell by 1.8% during the 2nd quarter. Geode Capital Management LLC now owns 1,353,824 shares of the industrial products company’s stock valued at $550,571,000 after purchasing an additional 24,110 shares during the last quarter. 88.16% of the stock is owned by hedge funds and other institutional investors.

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.