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

Hubbell Incorporated (NYSE:HUBB) has been assigned a consensus rating of “Moderate Buy” from the nine ratings firms that are currently covering the stock, MarketBeat reports. Four research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $445.56.

HUBB has been the subject of several analyst reports. JPMorgan Chase & Co. lowered Hubbell from an “overweight” rating to a “neutral” rating and raised their target price for the stock from $385.00 to $454.00 in a research report on Thursday, October 10th. Wells Fargo & Company raised their price objective on Hubbell from $445.00 to $455.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Barclays upped their target price on Hubbell from $400.00 to $402.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Morgan Stanley raised their price target on shares of Hubbell from $407.00 to $445.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Hubbell from a “hold” rating to a “buy” rating and upped their price objective for the company from $431.00 to $441.00 in a research note on Friday, September 6th.

Hubbell Trading Down 0.6 %

Shares of Hubbell stock opened at $437.61 on Monday. The firm’s 50 day moving average is $433.75 and its 200 day moving average is $399.39. The firm has a market capitalization of $23.49 billion, a PE ratio of 31.53, a price-to-earnings-growth ratio of 1.69 and a beta of 0.90. Hubbell has a 1 year low of $287.06 and a 1 year high of $481.35. The company has a current ratio of 1.66, a quick ratio of 1.05 and a debt-to-equity ratio of 0.51.

Hubbell (NYSE:HUBB) last released its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $4.49 earnings per share for the quarter, beating the consensus estimate of $4.47 by $0.02. The company had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.48 billion. Hubbell had a return on equity of 28.81% and a net margin of 13.33%. Hubbell’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter last year, the business posted $3.95 EPS. Equities research analysts forecast that Hubbell will post 16.47 earnings per share for the current fiscal year.

Hubbell Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be issued a $1.32 dividend. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date is Friday, November 29th. This is a positive change from Hubbell’s previous quarterly dividend of $1.22. Hubbell’s dividend payout ratio (DPR) is currently 35.16%.

Insider Activity at Hubbell

In other Hubbell news, insider Mark Eugene Mikes sold 1,144 shares of Hubbell stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $466.20, for a total transaction of $533,332.80. Following the transaction, the insider now owns 2,957 shares of the company’s stock, valued at $1,378,553.40. This trade represents a 27.90 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.66% of the stock is currently owned by insiders.

Institutional Trading of Hubbell

A number of large investors have recently added to or reduced their stakes in HUBB. Prospera Private Wealth LLC purchased a new stake in Hubbell in the third quarter worth $33,000. Ashton Thomas Securities LLC bought a new position in shares of Hubbell during the 3rd quarter worth $41,000. Quarry LP purchased a new stake in Hubbell in the 2nd quarter worth about $49,000. Northwest Investment Counselors LLC bought a new stake in Hubbell in the 3rd quarter valued at about $58,000. Finally, GAMMA Investing LLC lifted its holdings in Hubbell by 84.7% during the third quarter. GAMMA Investing LLC now owns 157 shares of the industrial products company’s stock valued at $67,000 after purchasing an additional 72 shares during the last quarter. 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.