Hubbell Incorporated (NYSE:HUBB) Given Average Recommendation of “Moderate Buy” by Brokerages

Hubbell Incorporated (NYSE:HUBB) has been assigned a consensus recommendation of “Moderate Buy” from the nine ratings firms that are presently covering the stock, Marketbeat.com reports. Four analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $428.13.

A number of equities research analysts have recently issued reports on the stock. Stephens reissued an “overweight” rating and issued a $450.00 price target on shares of Hubbell in a report on Friday, August 2nd. Morgan Stanley assumed coverage on Hubbell in a report on Friday, September 6th. They set an “equal weight” rating and a $407.00 target price for the company. Barclays raised their target price on Hubbell from $368.00 to $400.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 2nd. Deutsche Bank Aktiengesellschaft raised shares of Hubbell from a “hold” rating to a “buy” rating and lifted their target price for the company from $431.00 to $441.00 in a research note on Friday, September 6th. Finally, JPMorgan Chase & Co. cut shares of Hubbell from an “overweight” rating to a “neutral” rating and lifted their price target for the company from $385.00 to $454.00 in a research report on Thursday, October 10th.

Insider Buying and Selling

In other Hubbell news, CEO Gerben Bakker sold 15,677 shares of the business’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $24,861,791.10. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director Carlos M. Cardoso sold 450 shares of Hubbell stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $364.54, for a total value of $164,043.00. Following the completion of the transaction, the director now owns 1,670 shares in the company, valued at $608,781.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Gerben Bakker sold 15,677 shares of the company’s 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 of the company’s stock, valued at $24,861,791.10. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.66% of the stock is owned by corporate insiders.

Institutional Trading of Hubbell

A number of institutional investors and hedge funds have recently made changes to their positions in HUBB. Nvwm LLC purchased a new stake in Hubbell in the 1st quarter worth $25,000. Quarry LP acquired a new stake in shares of Hubbell in the second quarter valued at about $49,000. Riverview Trust Co purchased a new stake in shares of Hubbell during the first quarter worth about $52,000. Northwest Investment Counselors LLC acquired a new position in shares of Hubbell during the 1st quarter worth about $56,000. Finally, Ashton Thomas Private Wealth LLC purchased a new position in Hubbell in the 2nd quarter valued at about $62,000. 88.16% of the stock is currently owned by hedge funds and other institutional investors.

Hubbell Stock Performance

Shares of HUBB opened at $456.81 on Thursday. The company has a market cap of $24.52 billion, a PE ratio of 34.06, a P/E/G ratio of 1.67 and a beta of 0.90. The stock has a 50-day moving average of $410.39 and a 200-day moving average of $393.60. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.81 and a quick ratio of 1.13. Hubbell has a one year low of $248.37 and a one year high of $461.77.

Hubbell (NYSE:HUBB) last announced its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $4.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.24 by $0.13. The business had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.48 billion. Hubbell had a return on equity of 28.98% and a net margin of 13.14%. Hubbell’s revenue was up 6.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $4.07 earnings per share. On average, equities research analysts predict that Hubbell will post 16.41 EPS for the current fiscal year.

Hubbell Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were issued a $1.22 dividend. The ex-dividend date was Friday, August 30th. This represents a $4.88 annualized dividend and a dividend yield of 1.07%. Hubbell’s dividend payout ratio (DPR) is presently 36.39%.

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.