Hubbell Incorporated HUBB
Hubbell's pullback to $443.31 from prior levels near $511 has materially improved the risk/reward on a stock with accelerating fundamentals. Q2 2026 revenue grew 15.3% YoY to $1.71B with EPS of $4.51, and management raised FY2026 guidance to $20.25–$20.55 adjusted EPS, implying forward PE of roughly 21.6x — near peer median — despite superior margin expansion (FY2025 operating margin of 20.83% vs 12.69% in 2021) and durable secular tailwinds in grid modernization and data center demand.
With RSI at 32.4 and the stock trading below both its 50-day ($488.94) and 200-day ($485.15) moving averages, the oversold technical condition combined with strong earnings momentum and rising institutional interest (fund count up from 49 to 63 over four quarters) supports accumulation at these levels.
What could go wrong
- Elevated leverage. Total debt rose to $2.61B as of FY2025 from $1.72B in FY2024, increasing balance sheet risk if end-market demand softens or rates remain elevated.
- Persistent insider selling. Insiders are net sellers with -$41.9M in net value over 24 months and no cluster buys, suggesting limited insider conviction at current levels.
- Valuation premium persists on EV/EBITDA. EV/EBITDA of 19.35x remains 31.7% above the peer median of 14.69x, leaving room for multiple compression if growth disappoints.
- Margin compression risk. Q2 2026 gross margin of 35.8% (implied from $613M gross profit on $1.71B revenue) is strong but any reversion could pressure the premium multiple.
What would change my mind
Where this comes from: Quarterly results, Q2 2026 (period ended 2026-06-30) · Seeking Alpha news article, published 2026-07-30 · Technicals as of 2026-09-01 · Derived metrics, FY2025 and FY2021. Orin's read on HUBB; not advice.
Twelve months actual closes to 2026-09-23 · actual filings
50-day average 200-day average · volume below
On file
All HUBB filingsLargest holders · 13F Q2 2026
Money flow| Filer | Position | Of fund |
|---|---|---|
| Vanguard Capital Management | $1.8B | 0.0% of fund |
| Vanguard Portfolio Management | $1.4B | 0.1% of fund |
| State Street | $1.2B | 0.0% of fund |
| Massachusetts Financial Services /Ma/ | $833.4M | 0.3% of fund |
| Brasada Capital Management | $784.8M | 0.1% of fund |
| Bank of New York Mellon | $783.1M | 0.1% of fund |
90 filers · quarter ended Q2 2026 · positions, not flows
Insiders, last 24 months: 163 Form 4 filings, net −$40.0M. Of the 50 on hand, 0 were open-market purchases and 2 sales— the rest are grants, option exercises and tax withholding.
Ask Orin about HUBB
Orin answers questions about HUBB from its filings, transcripts and numbers — with the source behind every claim. Your own desk starts with 3 free days, card required.
Start 3 free days →Where it trades
| Metric | Now | Own median | Sector |
|---|---|---|---|
| P/E | 27.4× | 26.6× | 44.5× |
| EV/EBITDA | 20.1× | 18.6× | — |
| P/S | 3.94× | 3.28× | — |
| P/B | 6.3× | 6.1× | — |
Its P/E sits 60th percentile of its own last 5 years (+0.51σ from its own mean).
12.3%
free-cash-flow growth every year for 10 years, discounted at 10%, is what today’s price implies — starting from $0.9B of trailing free cash flow. It is an assumption the market is making, not a forecast Orin is making.
What Wall Street published
$549
$503 – $600 · +18% against today's price
- 7 buy or overweight
- 9 hold
- 1 underweight or sell
The analysts’ consensus and their own ratings, not Orin’s. A target is a twelve-month opinion published by the firm that wrote it.
Against the companies it is compared to
| Company | Market cap | P/E | EV/EBITDA | Gross | Net | ROE |
|---|---|---|---|---|---|---|
| HUBBHubbell Incorporated | $24B | 27.4× | 20.1× | 35.2% | 14.5% | 24% |
| AYIAcuity Brands, Inc. | $9B | 19.8× | 12.0× | 49.3% | 10.3% | 17% |
| DOVDover Corporation | $25B | 22.6× | 15.0× | 39.6% | 13.5% | 15% |
| EFXEquifax Inc. | $18B | 27.1× | 12.4× | 44.4% | 10.7% | 15% |
| EMEEMCOR Group, Inc. | $33B | 23.5× | 14.7× | 19.7% | 7.7% | 38% |
| ODFLOld Dominion Freight Line, Inc. | $37B | 34.2× | 20.2× | 31.7% | 19.4% | 25% |
| VLTOVeralto Corporation | $23B | 24.0× | 18.2× | 60.2% | 17.3% | 33% |
The median is of the 6 peers listed above and nothing else — check it against the column. This company trades 15.1% above it. The peer set is the vendor’s, so a company can appear here that a person would not have chosen.
What it has traded at
What its sector has traded at
Two scales, drawn separately on purpose: a sector median and one company’s multiple are not the same number and putting them on one axis invites a comparison neither series supports.
Discounted cash flow
| Model | Fair value | Against | Computed |
|---|---|---|---|
| Standard DCF | $534 | $465.84 · +15% | 2026-06-10 |
| Levered DCF | $481 | $465.84 · +3% | 2026-06-10 |
The vendor’s intrinsic-value models. Treat them as a low-growth anchor — for a fast grower the market routinely pays well above a DCF. These were computed against the price in the “against” column, not today’s.
Every estimate on one scale
The vertical rule is the current price. Ranges and point estimates are the backend’s, published as they were calculated; an arrow means the estimate sits beyond this scale, and its number is on the right.