Hubbell (NYSE:HUBB) Price Target Raised to $585.00

Hubbell (NYSE:HUBB) had its target price upped by Evercore from $575.00 to $585.00 in a research report sent to investors on Wednesday,Benzinga reports. The brokerage currently has an outperform rating on the industrial products company’s stock.

Several other research firms have also recently issued reports on HUBB. Barclays raised their price target on shares of Hubbell from $465.00 to $481.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Wells Fargo & Company raised their target price on shares of Hubbell from $515.00 to $550.00 and gave the stock an “overweight” rating in a research report on Wednesday. UBS Group reaffirmed a “neutral” rating and issued a $450.00 target price on shares of Hubbell in a research note on Friday, December 12th. Weiss Ratings reissued a “buy (b-)” rating on shares of Hubbell in a research note on Thursday, January 22nd. Finally, JPMorgan Chase & Co. raised their price objective on Hubbell from $417.00 to $458.00 and gave the stock a “neutral” rating in a report on Wednesday, October 15th. Five equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $529.75.

Hubbell Stock Performance

Hubbell stock opened at $503.28 on Wednesday. Hubbell has a fifty-two week low of $299.42 and a fifty-two week high of $513.59. The company has a market capitalization of $26.75 billion, a price-to-earnings ratio of 30.19, a PEG ratio of 2.48 and a beta of 1.02. The stock has a fifty day moving average of $463.99 and a two-hundred day moving average of $444.71. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.85 and a current ratio of 1.72.

Hubbell (NYSE:HUBB) last posted its quarterly earnings data on Tuesday, February 3rd. The industrial products company reported $4.73 EPS for the quarter, beating analysts’ consensus estimates of $4.70 by $0.03. The business had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.49 billion. Hubbell had a return on equity of 27.45% and a net margin of 15.29%.The business’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same quarter last year, the company earned $4.10 earnings per share. Hubbell has set its FY 2026 guidance at 19.150-19.850 EPS. On average, analysts anticipate that Hubbell will post 17.63 EPS for the current fiscal year.

Hubbell Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Friday, February 27th will be issued a $1.42 dividend. This represents a $5.68 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Friday, February 27th. Hubbell’s dividend payout ratio (DPR) is 34.07%.

Insider Activity

In other news, Director John F. Malloy acquired 435 shares of the company’s stock in a transaction dated Monday, November 17th. The stock was acquired at an average cost of $429.24 per share, for a total transaction of $186,719.40. Following the acquisition, the director directly owned 19,085 shares in the company, valued at approximately $8,192,045.40. This represents a 2.33% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. 0.66% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Hubbell

A number of institutional investors have recently added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. lifted its stake in shares of Hubbell by 147.8% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 57 shares of the industrial products company’s stock valued at $25,000 after purchasing an additional 34 shares in the last quarter. NBT Bank N A NY purchased a new position in Hubbell in the fourth quarter valued at approximately $27,000. Hantz Financial Services Inc. raised its holdings in Hubbell by 141.4% in the third quarter. Hantz Financial Services Inc. now owns 70 shares of the industrial products company’s stock valued at $30,000 after buying an additional 41 shares during the period. Baillie Gifford & Co. lifted its position in Hubbell by 62.8% during the fourth quarter. Baillie Gifford & Co. now owns 70 shares of the industrial products company’s stock valued at $31,000 after buying an additional 27 shares in the last quarter. Finally, Harbor Investment Advisory LLC grew its stake in Hubbell by 630.0% during the fourth quarter. Harbor Investment Advisory LLC now owns 73 shares of the industrial products company’s stock worth $32,000 after buying an additional 63 shares during the period. Hedge funds and other 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.