Hubbell (NYSE:HUBB) Rating Increased to Strong-Buy at Wall Street Zen

Wall Street Zen upgraded shares of Hubbell (NYSE:HUBB) from a buy rating to a strong-buy rating in a research report released on Sunday.

A number of other brokerages have also commented on HUBB. Weiss Ratings reiterated a “buy (b-)” rating on shares of Hubbell in a research note on Wednesday, October 8th. Stephens reiterated an “overweight” rating and issued a $500.00 price target on shares of Hubbell in a research note on Thursday, September 11th. Mizuho lifted their price target on shares of Hubbell from $475.00 to $480.00 and gave the stock an “outperform” rating in a research note on Friday, October 17th. JPMorgan Chase & Co. lifted their price target 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. Finally, Barclays lifted their price target on shares of Hubbell from $431.00 to $456.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Five equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Hubbell presently has an average rating of “Moderate Buy” and a consensus price target of $486.00.

Hubbell Stock Up 0.1%

NYSE:HUBB opened at $470.51 on Friday. The firm has a market cap of $25.00 billion, a P/E ratio of 29.19, a P/E/G ratio of 2.60 and a beta of 0.96. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.76 and a current ratio of 1.36. Hubbell has a fifty-two week low of $299.42 and a fifty-two week high of $484.26. The firm has a 50-day simple moving average of $434.08 and a two-hundred day simple moving average of $411.45.

Hubbell (NYSE:HUBB) last released 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. The business had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.54 billion. Hubbell had a net margin of 15.24% and a return on equity of 27.68%. Hubbell’s revenue was up 4.1% compared to the same quarter last year. During the same period last year, the business earned $4.49 EPS. Hubbell has set its FY 2025 guidance at 18.100-18.30 EPS. Analysts predict that Hubbell will post 17.63 earnings per share for the current fiscal year.

Hubbell Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Friday, November 28th will be issued a dividend of $1.42 per share. This is an increase from Hubbell’s previous quarterly dividend of $1.32. This represents a $5.68 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Friday, November 28th. Hubbell’s payout ratio is presently 35.24%.

Hedge Funds Weigh In On Hubbell

Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in Hubbell by 0.3% during the second 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 in the last quarter. State Street Corp lifted its holdings in Hubbell by 1.2% during the second 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 in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in Hubbell by 15.9% during 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 purchasing an additional 226,856 shares in the last quarter. Invesco Ltd. lifted its holdings in Hubbell by 0.6% during the second 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 in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Hubbell by 1.8% during the second 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 in the last quarter. Hedge funds and other 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.