Hubbell Incorporated (NYSE:HUBB) Given Average Rating of “Moderate Buy” by Analysts

Shares of Hubbell Incorporated (NYSE:HUBB) have earned an average recommendation of “Moderate Buy” from the eight research firms that are presently covering the company, Marketbeat reports. Three equities research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $402.57.

Several equities research analysts recently weighed in on HUBB shares. JPMorgan Chase & Co. boosted their price target 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. Stephens reaffirmed an “overweight” rating and set a $450.00 price objective on shares of Hubbell in a research note on Friday, August 2nd. Wells Fargo & Company lifted their price objective on shares of Hubbell from $397.00 to $400.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 31st. Finally, Barclays dropped 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.

Insiders Place Their Bets

In other Hubbell news, Director Carlos M. Cardoso sold 450 shares of the business’s stock in a transaction dated Tuesday, August 6th. The shares were 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 directly owns 1,670 shares in the company, valued at $608,781.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Gerben Bakker sold 15,677 shares of the company’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 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 is available through this link. 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 completion of 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 corporate insiders.

Institutional Investors Weigh In On Hubbell

Hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in Hubbell by 15.9% in the 4th quarter. Vanguard Group Inc. now owns 6,696,582 shares of the industrial products company’s stock valued at $2,202,707,000 after purchasing an additional 918,808 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Hubbell by 16.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,035,596 shares of the industrial products company’s stock valued at $743,970,000 after purchasing an additional 291,850 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in Hubbell by 16.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,980,456 shares of the industrial products company’s stock valued at $821,989,000 after purchasing an additional 286,134 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of Hubbell by 3.6% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,335,218 shares of the industrial products company’s stock worth $487,995,000 after acquiring an additional 46,813 shares during the last quarter. Finally, FIL Ltd increased its stake in shares of Hubbell by 0.6% in the 4th quarter. FIL Ltd now owns 1,115,510 shares of the industrial products company’s stock worth $366,925,000 after acquiring an additional 6,526 shares during the last quarter. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Hubbell Price Performance

NYSE HUBB opened at $387.97 on Wednesday. Hubbell has a 12 month low of $248.37 and a 12 month high of $429.61. The stock has a market cap of $20.83 billion, a price-to-earnings ratio of 28.93, a PEG ratio of 1.43 and a beta of 0.90. The company’s 50 day moving average is $374.18 and its two-hundred day moving average is $385.24. The company has a current ratio of 1.81, a quick ratio of 1.03 and a debt-to-equity ratio of 0.62.

Hubbell (NYSE:HUBB) last released its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $4.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.24 by $0.13. Hubbell had a net margin of 13.14% and a return on equity of 28.98%. The firm had revenue of $1.45 billion for the quarter, compared to analysts’ expectations of $1.48 billion. During the same quarter last year, the business posted $4.07 earnings per share. The company’s revenue for the quarter was up 6.3% compared to the same quarter last year. As a group, research analysts anticipate that Hubbell will post 16.38 earnings per share for the current year.

Hubbell Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Friday, August 30th will be issued a $1.22 dividend. The ex-dividend date is Friday, August 30th. This represents a $4.88 annualized dividend and a dividend yield of 1.26%. Hubbell’s payout ratio is currently 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.