Hubbell (NYSE:HUBB) Earns Outperform Rating from Analysts at Evercore ISI

Evercore ISI initiated coverage on shares of Hubbell (NYSE:HUBB) in a report issued on Monday morning, MarketBeat Ratings reports. The firm issued an outperform rating and a $575.00 target price on the industrial products company’s stock.

HUBB has been the topic of several other reports. Weiss Ratings reiterated a “buy (b-)” rating on shares of Hubbell in a research note on Wednesday, October 8th. Barclays boosted their price target on Hubbell from $431.00 to $456.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 29th. Mizuho increased their price objective on Hubbell from $475.00 to $480.00 and gave the stock an “outperform” rating in a research note on Friday, October 17th. Stephens reissued an “overweight” rating and set a $500.00 price objective on shares of Hubbell in a report on Thursday, September 11th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Hubbell from $417.00 to $458.00 and gave the company a “neutral” rating in a research note on Wednesday, October 15th. Five analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $488.43.

Hubbell Trading Down 2.1%

Shares of HUBB stock opened at $429.17 on Monday. The firm has a fifty day moving average of $438.46 and a 200-day moving average of $427.42. The stock has a market cap of $22.81 billion, a price-to-earnings ratio of 26.62, a P/E/G ratio of 2.41 and a beta of 1.01. 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.

Hubbell (NYSE:HUBB) last issued its earnings results on Tuesday, October 28th. The industrial products company reported $5.17 earnings per share for the quarter, beating the consensus estimate of $4.98 by $0.19. Hubbell had a net margin of 15.24% and a return on equity of 27.68%. The business had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.54 billion. During the same period in the previous year, the business earned $4.49 EPS. The firm’s revenue was up 4.1% on a year-over-year basis. Hubbell has set its FY 2025 guidance at 18.100-18.30 EPS. On average, equities research analysts forecast that Hubbell will post 17.63 earnings per share for the current fiscal year.

Hubbell Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Friday, November 28th were issued a $1.42 dividend. This is a positive change from Hubbell’s previous quarterly dividend of $1.32. This represents a $5.68 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend was Friday, November 28th. Hubbell’s dividend payout ratio (DPR) is presently 35.24%.

Insiders Place Their Bets

In related news, Director John F. Malloy acquired 435 shares of the firm’s stock in a transaction on Monday, November 17th. The shares were purchased at an average price of $429.24 per share, with a total value of $186,719.40. Following the acquisition, the director directly owned 19,085 shares in the company, valued at $8,192,045.40. The trade was a 2.33% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, insider Alyssa R. Flynn sold 2,011 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $1,525,247.76. This represents a 38.28% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.66% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in shares of Hubbell by 0.3% in 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 buying an additional 21,508 shares during the period. State Street Corp lifted its stake in shares of Hubbell by 3.6% during the third quarter. State Street Corp now owns 2,261,944 shares of the industrial products company’s stock valued at $973,337,000 after acquiring an additional 78,539 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in Hubbell by 15.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,655,746 shares of the industrial products company’s stock valued at $712,484,000 after acquiring an additional 226,856 shares during the last quarter. Invesco Ltd. increased its position in Hubbell by 0.6% in the second quarter. Invesco Ltd. now owns 1,532,035 shares of the industrial products company’s stock worth $625,698,000 after purchasing an additional 9,697 shares during the period. Finally, Geode Capital Management LLC increased its position in Hubbell by 1.8% in the second quarter. Geode Capital Management LLC now owns 1,353,824 shares of the industrial products company’s stock worth $550,571,000 after purchasing an additional 24,110 shares during the period. Institutional investors own 88.16% of the company’s stock.

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.