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

Shares of Hubbell Incorporated (NYSE:HUBB) have been given an average recommendation of “Moderate Buy” by the nine ratings firms that are presently covering the company, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $404.88.

A number of analysts have recently issued reports on HUBB shares. Stephens restated an “overweight” rating and set a $450.00 price target on shares of Hubbell in a report on Friday, August 2nd. JPMorgan Chase & Co. lifted their target price on Hubbell from $383.00 to $385.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Barclays lowered their price target on Hubbell from $384.00 to $368.00 and set an “equal weight” rating for the company in a report on Wednesday, July 31st. Morgan Stanley began coverage on shares of Hubbell in a research report on Friday, September 6th. They issued an “equal weight” rating and a $407.00 target price on the stock. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Hubbell from a “hold” rating to a “buy” rating and lifted their price target for the company from $431.00 to $441.00 in a research report on Friday, September 6th.

Hubbell Stock Performance

NYSE HUBB opened at $426.01 on Friday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.13 and a current ratio of 1.81. The stock’s fifty day moving average is $381.79 and its two-hundred day moving average is $388.71. The firm has a market capitalization of $22.87 billion, a P/E ratio of 31.77, a price-to-earnings-growth ratio of 1.44 and a beta of 0.90. Hubbell has a fifty-two week low of $248.37 and a fifty-two week high of $429.61.

Hubbell (NYSE:HUBB) last announced its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $4.37 earnings per share 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 in the previous year, the company posted $4.07 EPS. The company’s revenue was up 6.3% compared to the same quarter last year. On average, research analysts anticipate that Hubbell will post 16.45 earnings per share for the current year.

Hubbell Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 30th were paid a $1.22 dividend. The ex-dividend date was Friday, August 30th. This represents a $4.88 annualized dividend and a dividend yield of 1.15%. Hubbell’s dividend payout ratio (DPR) is 36.39%.

Insider Activity

In other 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 approximately $608,781.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Hubbell news, Director Carlos M. Cardoso sold 450 shares of the 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 directly owns 1,670 shares of the company’s stock, valued at approximately $608,781.80. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Gerben Bakker sold 15,677 shares of Hubbell stock in a transaction on Friday, August 9th. The stock was sold at an average price of $374.34, for a total transaction of $5,868,528.18. Following the sale, the chief executive officer now directly owns 66,415 shares of the company’s stock, valued at $24,861,791.10. The disclosure for this sale can be found here. Insiders own 0.66% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Nvwm LLC purchased a new position in shares of Hubbell in the 1st quarter valued at $25,000. EverSource Wealth Advisors LLC boosted its stake 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 valued at $26,000 after acquiring an additional 74 shares in the last quarter. Principal Securities Inc. purchased a new position in shares of Hubbell during the fourth quarter worth about $40,000. Quarry LP purchased a new stake in shares of Hubbell in the 2nd quarter valued at about $49,000. Finally, Riverview Trust Co purchased a new stake in shares of Hubbell in the 1st quarter valued at about $52,000. Hedge funds and other institutional investors own 88.16% of the company’s stock.

About Hubbell

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.