Hubbell (NYSE:HUBB) Hits New 1-Year High at $430.91

Hubbell Incorporated (NYSE:HUBB) shares hit a new 52-week high on Monday . The company traded as high as $430.91 and last traded at $430.65, with a volume of 6687 shares changing hands. The stock had previously closed at $426.01.

Analyst Upgrades and Downgrades

Several analysts have recently commented on HUBB shares. Stephens reissued an “overweight” rating and issued a $450.00 price target on shares of Hubbell in a report on Friday, August 2nd. Deutsche Bank Aktiengesellschaft upgraded shares of Hubbell from a “hold” rating to a “buy” rating and boosted their target price for the stock from $431.00 to $441.00 in a research report on Friday, September 6th. Morgan Stanley initiated coverage on shares of Hubbell in a research note on Friday, September 6th. They set an “equal weight” rating and a $407.00 price target on the stock. Barclays reduced their price objective on shares of Hubbell from $384.00 to $368.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 31st. Finally, JPMorgan Chase & Co. upped their target price on shares of Hubbell from $383.00 to $385.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $404.88.

Hubbell Trading Up 0.2 %

The stock has a market cap of $22.92 billion, a price-to-earnings ratio of 31.77, a PEG ratio of 1.44 and a beta of 0.90. The business has a fifty day simple moving average of $381.79 and a 200 day simple moving average of $388.71. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.13 and a current ratio of 1.81.

Hubbell (NYSE:HUBB) last posted its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $4.37 EPS for the quarter, topping analysts’ consensus estimates of $4.24 by $0.13. Hubbell had a return on equity of 28.98% and a net margin of 13.14%. The firm had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.48 billion. During the same quarter last year, the business posted $4.07 EPS. The firm’s quarterly revenue was up 6.3% compared to the same quarter last year. As a group, equities analysts anticipate that Hubbell Incorporated will post 16.45 EPS for the current year.

Hubbell Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were given a dividend of $1.22 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $4.88 dividend on an annualized basis and a dividend yield of 1.14%. Hubbell’s payout ratio is currently 36.39%.

Insider Buying and Selling

In related news, CEO Gerben Bakker sold 15,677 shares of Hubbell stock in a transaction on Friday, August 9th. The shares were sold at an average price of $374.34, for a total value of $5,868,528.18. Following the completion of the sale, the chief executive officer now owns 66,415 shares in the company, valued at $24,861,791.10. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CEO Gerben Bakker sold 15,677 shares of Hubbell stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $374.34, for a total value of $5,868,528.18. Following the completion of the transaction, the chief executive officer now directly owns 66,415 shares in the company, valued at $24,861,791.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Carlos M. Cardoso sold 450 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $364.54, for a total value of $164,043.00. Following the sale, the director now owns 1,670 shares in the company, valued at approximately $608,781.80. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Hubbell

A number of hedge funds have recently added to or reduced their stakes in the business. Nvwm LLC bought a new position in shares of Hubbell in the 1st quarter worth about $25,000. EverSource Wealth Advisors LLC lifted its holdings in Hubbell by 1,850.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 78 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 74 shares during the last quarter. Principal Securities Inc. acquired a new position in Hubbell in the fourth quarter valued at approximately $40,000. Riverview Trust Co bought a new position in shares of Hubbell during the first quarter valued at approximately $52,000. Finally, Northwest Investment Counselors LLC acquired a new stake in shares of Hubbell during the 1st quarter worth approximately $56,000. Institutional investors and hedge funds own 88.16% of the company’s stock.

Hubbell Company Profile

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.