Hubbell Incorporated (NYSE:HUBB) Receives Consensus Rating of “Moderate Buy” from Brokerages

Hubbell Incorporated (NYSE:HUBB) has been given an average rating of “Moderate Buy” by the nine brokerages that are presently covering the stock, Marketbeat reports. Four investment analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year price target among brokers that have covered the stock in the last year is $428.13.

Several research firms recently commented on HUBB. Barclays increased their target price on shares of Hubbell from $368.00 to $400.00 and gave the company an “equal weight” rating in a report on Wednesday, October 2nd. Stephens reissued an “overweight” rating and issued a $450.00 target price on shares of Hubbell in a research note on Friday, August 2nd. Morgan Stanley assumed coverage on Hubbell in a research report on Friday, September 6th. They set an “equal weight” rating and a $407.00 price target on the stock. Wells Fargo & Company boosted their price objective on Hubbell from $400.00 to $445.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. Finally, Mizuho raised their target price on shares of Hubbell from $450.00 to $490.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th.

Insiders Place Their Bets

In related news, CEO Gerben Bakker sold 15,677 shares of the business’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $374.34, for a total transaction of $5,868,528.18. Following the transaction, the chief executive officer now owns 66,415 shares in the company, valued at $24,861,791.10. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Hubbell news, Director Carlos M. Cardoso sold 450 shares of the firm’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $364.54, for a total transaction of $164,043.00. Following the completion of the transaction, the director now owns 1,670 shares of the company’s stock, valued at approximately $608,781.80. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Gerben Bakker sold 15,677 shares of the business’s stock in a transaction on Friday, August 9th. The shares were 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 owns 66,415 shares in the company, valued at approximately $24,861,791.10. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.66% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Nvwm LLC bought a new position in shares of Hubbell during the first quarter valued at approximately $25,000. Riverview Trust Co bought a new position in Hubbell during the 1st quarter valued at approximately $52,000. Northwest Investment Counselors LLC purchased a new position in Hubbell during the first quarter valued at $56,000. Quarry LP bought a new stake in Hubbell in the second quarter worth $49,000. Finally, GAMMA Investing LLC grew its stake in shares of Hubbell by 84.7% in the third quarter. GAMMA Investing LLC now owns 157 shares of the industrial products company’s stock worth $67,000 after acquiring an additional 72 shares during the last quarter. 88.16% of the stock is owned by hedge funds and other institutional investors.

Hubbell Trading Down 0.8 %

Shares of HUBB stock opened at $444.72 on Thursday. The company has a quick ratio of 1.13, a current ratio of 1.81 and a debt-to-equity ratio of 0.62. The firm has a market cap of $23.88 billion, a P/E ratio of 33.16, a price-to-earnings-growth ratio of 1.67 and a beta of 0.90. The business has a 50-day moving average price of $413.15 and a two-hundred day moving average price of $394.18. Hubbell has a 12-month low of $248.37 and a 12-month high of $461.77.

Hubbell (NYSE:HUBB) last released its earnings results on Tuesday, July 30th. The industrial products company reported $4.37 earnings per share for the quarter, topping analysts’ consensus estimates of $4.24 by $0.13. The company 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 quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.07 EPS. Equities analysts anticipate that Hubbell will post 16.41 EPS for the current fiscal year.

Hubbell Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 30th were given a dividend of $1.22 per share. This represents a $4.88 dividend on an annualized basis and a yield of 1.10%. The ex-dividend date of this dividend was Friday, August 30th. 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.