Hubbell (NYSE:HUBB) Sets New 12-Month High on Analyst Upgrade

Shares of Hubbell Incorporated (NYSE:HUBB) reached a new 52-week high during mid-day trading on Monday after Wells Fargo & Company raised their price target on the stock from $400.00 to $445.00. Wells Fargo & Company currently has an equal weight rating on the stock. Hubbell traded as high as $433.95 and last traded at $432.98, with a volume of 59167 shares. The stock had previously closed at $429.72.

A number of other research firms have also weighed in on HUBB. Barclays raised their price objective on Hubbell from $368.00 to $400.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 2nd. JPMorgan Chase & Co. upped their price target on shares of Hubbell from $383.00 to $385.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Morgan Stanley began coverage on shares of Hubbell in a report on Friday, September 6th. They issued an “equal weight” rating and a $407.00 target price for the company. Stephens reissued an “overweight” rating and set a $450.00 price target on shares of Hubbell in a research report on Friday, August 2nd. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Hubbell from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $431.00 to $441.00 in a report on Friday, September 6th. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Hubbell currently has a consensus rating of “Moderate Buy” and a consensus target price of $414.50.

Insider Buying and Selling

In other news, Director Carlos M. Cardoso sold 450 shares of the business’s 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 transaction, the director now directly owns 1,670 shares in the company, valued at $608,781.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Hubbell news, Director Carlos M. Cardoso sold 450 shares of the business’s stock in a transaction 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 $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 through the SEC website. Also, CEO Gerben Bakker sold 15,677 shares of the 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 directly owns 66,415 shares of the company’s stock, valued at $24,861,791.10. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.66% of the stock is owned by insiders.

Institutional Trading of Hubbell

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

Hubbell Price Performance

The stock’s 50-day simple moving average is $395.66 and its two-hundred day simple moving average is $391.16. The firm has a market cap of $23.68 billion, a P/E ratio of 32.89, a PEG ratio of 1.56 and a beta of 0.90. 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 (NYSE:HUBB) last posted its quarterly earnings data 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 for the quarter, compared to analyst estimates of $1.48 billion. Hubbell had a net margin of 13.14% and a return on equity of 28.98%. The firm’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same period in the prior year, the company posted $4.07 EPS. Equities research analysts forecast that Hubbell Incorporated will post 16.45 earnings per share for the current fiscal year.

Hubbell Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were paid 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 1.11%. Hubbell’s dividend payout ratio 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.