Hubbell (NYSE:HUBB) Cut to Buy at Wall Street Zen

Hubbell (NYSE:HUBB) was downgraded by research analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a report released on Monday.

Several other analysts have also recently issued reports on the company. Evercore ISI initiated coverage on Hubbell in a report on Monday, December 15th. They set an “outperform” rating and a $575.00 price objective on the stock. UBS Group restated a “neutral” rating and issued a $450.00 price target on shares of Hubbell in a research report on Friday, December 12th. Wells Fargo & Company upped their price target on shares of Hubbell from $490.00 to $500.00 and gave the company an “overweight” rating in a research note on Wednesday, October 29th. Mizuho increased their price objective on shares of Hubbell from $475.00 to $480.00 and gave the company an “outperform” rating in a research report on Friday, October 17th. Finally, Stephens reissued an “overweight” rating and issued a $500.00 price objective on shares of Hubbell in a research note on Thursday, September 11th. Five analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $488.43.

Hubbell Stock Down 0.4%

Shares of HUBB stock opened at $454.56 on Monday. The company’s fifty day simple moving average is $442.23 and its two-hundred day simple moving average is $430.67. Hubbell has a 52 week low of $299.42 and a 52 week high of $484.26. The stock has a market cap of $24.16 billion, a P/E ratio of 28.20, a PEG ratio of 2.50 and a beta of 1.01. The company has a quick ratio of 0.85, a current ratio of 1.36 and a debt-to-equity ratio of 0.28.

Hubbell (NYSE:HUBB) last issued its quarterly earnings data on Tuesday, October 28th. The industrial products company reported $5.17 earnings per share for the quarter, beating analysts’ consensus estimates of $4.98 by $0.19. Hubbell had a return on equity of 27.68% and a net margin of 15.24%.The firm had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.54 billion. During the same quarter last year, the business posted $4.49 earnings per share. The business’s quarterly revenue was up 4.1% compared to the same quarter last year. Hubbell has set its FY 2025 guidance at 18.100-18.30 EPS. Analysts predict 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 business’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $470.32, for a total transaction of $945,813.52. Following the completion of the sale, the insider directly owned 3,243 shares of the company’s stock, valued at approximately $1,525,247.76. The trade was a 38.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Mark Eugene Mikes sold 2,470 shares of the company’s stock in a transaction dated 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 transaction, 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.76% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Hubbell

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Adage Capital Partners GP L.L.C. lifted its position in shares of Hubbell by 181.6% during the first quarter. Adage Capital Partners GP L.L.C. now owns 975,196 shares of the industrial products company’s stock valued at $322,702,000 after buying an additional 628,886 shares during the last quarter. Boston Partners bought a new position in shares of Hubbell during the 2nd quarter worth approximately $230,691,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Hubbell during the 3rd quarter worth approximately $162,309,000. Mirova US LLC purchased a new stake in Hubbell during the second quarter valued at approximately $139,386,000. Finally, Troy Asset Management Ltd acquired a new stake in Hubbell in the second quarter valued at approximately $132,540,000. Institutional investors own 88.16% of the company’s stock.

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.