Mizuho Boosts Hubbell (NYSE:HUBB) Price Target to $500.00

Hubbell (NYSE:HUBB) had its price target lifted by stock analysts at Mizuho from $480.00 to $500.00 in a research note issued to investors on Monday, MarketBeat Ratings reports. The brokerage currently has an “outperform” rating on the industrial products company’s stock. Mizuho’s price target suggests a potential upside of 4.60% from the stock’s current price.

Other analysts have also issued reports about the stock. Wells Fargo & Company boosted their price objective on shares of Hubbell from $490.00 to $500.00 and gave the company an “overweight” rating in a report on Wednesday, October 29th. Wall Street Zen downgraded Hubbell from a “strong-buy” rating to a “buy” rating in a report on Monday, December 29th. Evercore ISI assumed coverage on Hubbell in a report on Monday, December 15th. They issued an “outperform” rating and a $575.00 target price for the company. JPMorgan Chase & Co. increased their price objective on Hubbell from $417.00 to $458.00 and gave the company a “neutral” rating in a report on Wednesday, October 15th. Finally, Stephens reissued an “overweight” rating and set a $500.00 price target on shares of Hubbell in a report on Thursday, September 11th. Five research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $491.29.

Hubbell Stock Up 2.7%

Shares of HUBB opened at $478.02 on Monday. Hubbell has a 52-week low of $299.42 and a 52-week high of $484.26. The company has a quick ratio of 0.85, a current ratio of 1.36 and a debt-to-equity ratio of 0.28. The stock has a fifty day simple moving average of $445.16 and a two-hundred day simple moving average of $433.81. The company has a market capitalization of $25.41 billion, a PE ratio of 29.65, a price-to-earnings-growth ratio of 2.35 and a beta of 1.02.

Hubbell (NYSE:HUBB) last announced its quarterly earnings data on Tuesday, October 28th. The industrial products company reported $5.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.98 by $0.19. The firm 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 quarterly revenue was up 4.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.49 earnings per share. Hubbell has set its FY 2025 guidance at 18.100-18.30 EPS. As a group, equities analysts forecast that Hubbell will post 17.63 EPS for the current year.

Insider Activity at Hubbell

In related news, insider Mark Eugene Mikes sold 2,470 shares of the stock in a transaction 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 sale, the insider owned 4,785 shares of the company’s stock, valued at $2,232,202.50. This trade represents a 34.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John F. Malloy purchased 435 shares of the stock in a transaction dated 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 completion of the acquisition, the director owned 19,085 shares of the company’s stock, valued at approximately $8,192,045.40. This represents a 2.33% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 0.76% of the company’s stock.

Institutional Investors Weigh In On Hubbell

Institutional investors have recently bought and sold shares of the stock. Boston Partners acquired a new stake in shares of Hubbell in the second quarter worth $230,691,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Hubbell in the third quarter worth $162,309,000. Mirova US LLC acquired a new stake in shares of Hubbell in the 2nd quarter valued at about $139,386,000. Troy Asset Management Ltd bought a new position in Hubbell during the 2nd quarter worth approximately $132,540,000. Finally, Bain Capital Public Equity Management II LLC bought a new position in Hubbell during the second quarter worth $132,286,000. 88.16% of the stock is currently owned by hedge funds and other institutional investors.

About Hubbell

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.