Hubbell (NYSE:HUBB) Given New $458.00 Price Target at JPMorgan Chase & Co.

Hubbell (NYSE:HUBB) had its price target boosted by JPMorgan Chase & Co. from $417.00 to $458.00 in a research note released on Wednesday morning,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the industrial products company’s stock.

A number of other equities analysts also recently commented on the stock. Barclays raised their price objective on shares of Hubbell from $420.00 to $431.00 and gave the stock an “equal weight” rating in a report on Friday, August 1st. Wells Fargo & Company raised shares of Hubbell from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $445.00 to $490.00 in a report on Tuesday, September 2nd. Stephens reaffirmed an “overweight” rating and set a $500.00 price objective on shares of Hubbell in a report on Thursday, September 11th. Wall Street Zen raised shares of Hubbell from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 11th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Hubbell in a report on Wednesday, October 8th. Five analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $477.75.

Hubbell Stock Performance

NYSE HUBB opened at $435.04 on Wednesday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.30 and a quick ratio of 0.76. The firm has a market capitalization of $23.12 billion, a price-to-earnings ratio of 28.25, a P/E/G ratio of 2.39 and a beta of 0.96. The company’s fifty day moving average is $430.96 and its two-hundred day moving average is $400.97. Hubbell has a 52-week low of $299.42 and a 52-week high of $481.35.

Hubbell (NYSE:HUBB) last posted its quarterly earnings results on Tuesday, July 29th. The industrial products company reported $4.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.36 by $0.57. The company had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.51 billion. Hubbell had a net margin of 14.76% and a return on equity of 27.63%. Hubbell has set its FY 2025 guidance at 17.650-18.15 EPS. Equities research analysts forecast that Hubbell will post 17.63 EPS for the current year.

Hubbell Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 29th were issued a dividend of $1.32 per share. This represents a $5.28 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend was Friday, August 29th. Hubbell’s dividend payout ratio (DPR) is currently 34.29%.

Hedge Funds Weigh In On Hubbell

Institutional investors have recently modified their holdings of the stock. McKinley Carter Wealth Services Inc. raised its stake in shares of Hubbell by 16.7% in the second quarter. McKinley Carter Wealth Services Inc. now owns 19,829 shares of the industrial products company’s stock worth $8,098,000 after acquiring an additional 2,843 shares during the last quarter. Belpointe Asset Management LLC bought a new position in shares of Hubbell in the second quarter worth about $320,000. Venturi Wealth Management LLC bought a new position in shares of Hubbell in the second quarter worth about $490,000. Teacher Retirement System of Texas raised its stake in shares of Hubbell by 1,462.9% in the first quarter. Teacher Retirement System of Texas now owns 7,846 shares of the industrial products company’s stock worth $2,596,000 after acquiring an additional 7,344 shares during the last quarter. Finally, Private Trust Co. NA raised its stake in shares of Hubbell by 60.4% in the first quarter. Private Trust Co. NA now owns 292 shares of the industrial products company’s stock worth $97,000 after acquiring an additional 110 shares during the last quarter. 88.16% of the stock is owned by institutional investors.

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.