Hubbell Incorporated (HUBB), based in Shelton, Connecticut, is a leading manufacturer of electrical infrastructure and utility products. Valued at a market capitalization of $23.3 billion, the company offers a wide range of solutions, including wiring devices, connectors, lighting and controls, enclosures and high-voltage utility components such as insulators, surge arresters and network equipment hardware.
Companies worth $10 billion or more are typically classified as “large-cap stocks,” and HUBB fits that label perfectly, with its market cap surpassing that threshold, underscoring its size, influence, and dominance in the electrical equipment and parts industry. The company plays a critical role in supporting electricity transmission and distribution, grid modernization, electrification and large-scale infrastructure development in North America and international markets.
This maker of electrical infrastructure and utility products fell 9.4% below its 52-week high of $484.26, reached on October 30. Shares of HUBB have declined slightly over the past three months, underperforming the State Street Industrial Select Sector SPDR ETF’s (XLI) 1.7% gain over the same period.
Additionally, on a year-to-date basis, HUBB shares are up 4.7%, compared to XLI’s 16.8% return. Looking longer term, HUBB has fallen 2.2% over the past 52 weeks, lagging XLI’s 10.8% rise over the same period.
To confirm its recent uptrend, HUBB has been trading above its 200-day moving average since late June and has remained above its 50-day moving average since early December.
On October 28, HUBB shares jumped 4.9% after reporting mixed third-quarter results. While the company’s net sales rose 4.1% year over year to $1.5 billion, they missed analysts’ estimates by 2%. Still, its adjusted EPS climbed 12.1% from the year-ago quarter to $5.17 and beat consensus estimates of $4.99. Additionally, HUBB raised its adjusted EPS forecast for fiscal 2025 to a range of $18.10 to $18.30, boosting investor confidence.
HUBB also lags behind its rival, nVent Electric plc (NVT), which has climbed 45.1% over the past 52 weeks and 58.4% on a cumulative basis.
