Fintel reports that on November 17, 2023, JP Morgan upgraded their outlook for Hubbell (NYSE:HUBB) from Neutral to Overweight .
Analyst Price Forecast Suggests 17.06% Upside
As of November 1, 2023, the average one-year price target for Hubbell is 338.98. The forecasts range from a low of 272.70 to a high of $393.75. The average price target represents an increase of 17.06% from its latest reported closing price of 289.59.
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The projected annual revenue for Hubbell is 5,288MM, an increase of 0.79%. The projected annual non-GAAP EPS is 11.33.
What is the Fund Sentiment?
There are 1345 funds or institutions reporting positions in Hubbell. This is an increase of 66 owner(s) or 5.16% in the last quarter. Average portfolio weight of all funds dedicated to HUBB is 0.33%, an increase of 8.58%. Total shares owned by institutions increased in the last three months by 0.62% to 55,279K shares. 
The put/call ratio of HUBB is 0.98, indicating a bullish outlook.
What are Other Shareholders Doing?
Price T Rowe Associates holds 2,654K shares representing 4.95% ownership of the company. In it's prior filing, the firm reported owning 4,408K shares, representing a decrease of 66.10%. The firm decreased its portfolio allocation in HUBB by 73.58% over the last quarter.
Jpmorgan Chase holds 2,112K shares representing 3.94% ownership of the company. In it's prior filing, the firm reported owning 2,744K shares, representing a decrease of 29.97%. The firm decreased its portfolio allocation in HUBB by 26.15% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 1,672K shares representing 3.12% ownership of the company. In it's prior filing, the firm reported owning 1,660K shares, representing an increase of 0.72%. The firm increased its portfolio allocation in HUBB by 26.64% over the last quarter.
IJH - iShares Core S&P Mid-Cap ETF holds 1,626K shares representing 3.03% ownership of the company. In it's prior filing, the firm reported owning 1,654K shares, representing a decrease of 1.72%. The firm increased its portfolio allocation in HUBB by 28.32% over the last quarter.
Bank of New York Mellon holds 1,469K shares representing 2.74% ownership of the company. In it's prior filing, the firm reported owning 1,500K shares, representing a decrease of 2.08%. The firm decreased its portfolio allocation in HUBB by 3.05% over the last quarter.
Hubbell Background Information
(This description is provided by the company.)
Hubbell Incorporated is an international manufacturer of high quality, reliable electrical and utility solutions for a broad range of customer and end market applications. With 2020 revenues of $4.2 billion, Hubbell Incorporated operates manufacturing facilities in the United States and around the world. The corporate headquarters is located in Shelton, CT.
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