Hubbell (NYSE:HUBB) Sets New 52-Week High – Here’s What Happened

Hubbell Inc (NYSE:HUBB)’s stock price reached a new 52-week high during trading on Thursday . The stock traded as high as $486.68 and last traded at $483.4540, with a volume of 6516 shares traded. The stock had previously closed at $476.06.

Wall Street Analysts Forecast Growth

HUBB has been the subject of several analyst reports. UBS Group reaffirmed a “neutral” rating and set a $450.00 price target on shares of Hubbell in a research note on Friday, December 12th. Mizuho increased their price objective on Hubbell from $480.00 to $500.00 and gave the company an “outperform” rating in a report on Monday, January 5th. Wall Street Zen downgraded Hubbell from a “strong-buy” rating to a “buy” rating in a report on Monday, December 29th. Morgan Stanley set a $515.00 price target on Hubbell in a research report on Wednesday, January 7th. 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 given a Hold rating to the company’s stock. According to data from MarketBeat, Hubbell has a consensus rating of “Moderate Buy” and an average target price of $497.25.

Hubbell Price Performance

The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.85 and a current ratio of 1.36. The business has a 50 day moving average price of $446.57 and a 200-day moving average price of $437.38. The company has a market capitalization of $26.04 billion, a price-to-earnings ratio of 30.39, a P/E/G ratio of 2.45 and a beta of 1.02.

Hubbell (NYSE:HUBB) last issued its earnings results on Tuesday, October 28th. The industrial products company reported $5.17 earnings per share for the quarter, topping 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 return on equity of 27.68% and a net margin of 15.24%.The firm’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same period in the previous year, the company posted $4.49 earnings per share. Hubbell has set its FY 2025 guidance at 18.100-18.30 EPS. Research analysts predict that Hubbell Inc will post 17.63 EPS for the current fiscal year.

Hubbell Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Friday, November 28th were issued a $1.42 dividend. The ex-dividend date was Friday, November 28th. This is a positive change from Hubbell’s previous quarterly dividend of $1.32. This represents a $5.68 dividend on an annualized basis and a yield of 1.2%. Hubbell’s dividend payout ratio is 35.24%.

Insider Buying and Selling at Hubbell

In related news, insider Mark Eugene Mikes sold 2,470 shares of the business’s stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $466.50, for a total value of $1,152,255.00. Following the completion of the sale, the insider directly owned 4,785 shares of the company’s stock, valued at $2,232,202.50. The trade was a 34.05% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director John F. Malloy purchased 435 shares of the business’s stock in a transaction on Monday, November 17th. The stock was purchased at an average price of $429.24 per share, for a total transaction of $186,719.40. Following 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 position. The disclosure for this purchase is available in the SEC filing. Insiders own 0.66% of the company’s stock.

Institutional Investors Weigh In On Hubbell

Several hedge funds and other institutional investors have recently modified their holdings of HUBB. Perigon Wealth Management LLC grew its position in Hubbell by 32.4% in the 4th quarter. Perigon Wealth Management LLC now owns 16,600 shares of the industrial products company’s stock valued at $7,372,000 after purchasing an additional 4,060 shares during the period. Tema Etfs LLC lifted its stake in shares of Hubbell by 84.7% in the fourth quarter. Tema Etfs LLC now owns 24,725 shares of the industrial products company’s stock valued at $10,981,000 after buying an additional 11,340 shares in the last quarter. Victory Financial Group LLC lifted its stake in shares of Hubbell by 38.9% in the fourth quarter. Victory Financial Group LLC now owns 1,386 shares of the industrial products company’s stock valued at $616,000 after buying an additional 388 shares in the last quarter. Bourgeon Capital Management LLC grew its holdings in shares of Hubbell by 19.4% during the fourth quarter. Bourgeon Capital Management LLC now owns 39,090 shares of the industrial products company’s stock valued at $17,360,000 after buying an additional 6,344 shares during the last quarter. Finally, Nisa Investment Advisors LLC increased its position in shares of Hubbell by 0.9% during the fourth quarter. Nisa Investment Advisors LLC now owns 6,728 shares of the industrial products company’s stock worth $2,988,000 after acquiring an additional 58 shares in the last quarter. Institutional investors own 88.16% of the company’s stock.

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.