Evercore ISI Initiates Coverage on Hubbell (NYSE:HUBB)

Research analysts at Evercore ISI assumed coverage on shares of Hubbell (NYSE:HUBB) in a research report issued to clients and investors on Monday, Marketbeat reports. The brokerage set an “outperform” rating and a $575.00 price target on the industrial products company’s stock. Evercore ISI’s price objective suggests a potential upside of 31.26% from the company’s current price.

HUBB has been the topic of several other research reports. Mizuho raised their price target on Hubbell from $475.00 to $480.00 and gave the stock an “outperform” rating in a report on Friday, October 17th. Wall Street Zen downgraded shares of Hubbell from a “strong-buy” rating to a “buy” rating in a report on Saturday. Stephens reaffirmed an “overweight” rating and issued a $500.00 price objective on shares of Hubbell in a report on Thursday, September 11th. UBS Group reiterated a “neutral” rating and issued a $450.00 price objective on shares of Hubbell in a research report on Friday. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Hubbell in a research report on Wednesday, October 8th. Five analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, Hubbell currently has an average rating of “Moderate Buy” and a consensus target price of $488.43.

Hubbell Stock Down 1.5%

Shares of NYSE:HUBB opened at $438.08 on Monday. The company’s fifty day moving average is $438.27 and its two-hundred day moving average is $427.40. 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 has a 1-year low of $299.42 and a 1-year high of $484.26. The stock has a market capitalization of $23.28 billion, a price-to-earnings ratio of 27.21, a price-to-earnings-growth ratio of 2.45 and a beta of 1.01.

Hubbell (NYSE:HUBB) last announced 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 the consensus estimate of $1.54 billion. Hubbell had a net margin of 15.24% and a return on equity of 27.68%. The company’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.49 EPS. Hubbell has set its FY 2025 guidance at 18.100-18.30 EPS. Equities analysts anticipate that Hubbell will post 17.63 EPS for the current year.

Insider Activity

In related news, insider Alyssa R. Flynn sold 2,011 shares of the stock in a transaction that occurred 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 $1,525,247.76. This represents a 38.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mark Eugene Mikes sold 2,470 shares of Hubbell stock in a transaction that occurred on 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. This trade represents a 34.05% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.76% of the company’s stock.

Institutional Investors Weigh In On Hubbell

Institutional investors and hedge funds have recently modified their holdings of the stock. Townsquare Capital LLC increased its position in Hubbell by 0.8% during the 3rd quarter. Townsquare Capital LLC now owns 2,817 shares of the industrial products company’s stock worth $1,212,000 after purchasing an additional 22 shares in the last quarter. Unique Wealth LLC increased its holdings in shares of Hubbell by 2.6% during the third quarter. Unique Wealth LLC now owns 897 shares of the industrial products company’s stock worth $386,000 after buying an additional 23 shares in the last quarter. Benjamin Edwards Inc. boosted its holdings in shares of Hubbell by 2.0% during the 2nd quarter. Benjamin Edwards Inc. now owns 1,237 shares of the industrial products company’s stock valued at $505,000 after acquiring an additional 24 shares in the last quarter. Blue Trust Inc. grew its position in Hubbell by 5.5% during the 3rd quarter. Blue Trust Inc. now owns 480 shares of the industrial products company’s stock worth $207,000 after acquiring an additional 25 shares during the last quarter. Finally, Quest Investment Management LLC increased its holdings in Hubbell by 1.3% in the 3rd quarter. Quest Investment Management LLC now owns 1,895 shares of the industrial products company’s stock worth $816,000 after purchasing an additional 25 shares in the last quarter. 88.16% of the stock is owned by institutional investors and hedge funds.

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.