Hubbell (NYSE:HUBB) Reaches New 1-Year High – Here’s What Happened

by · The Cerbat Gem

Hubbell Incorporated (NYSE:HUBB – Get Free Report) shares hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $459.00 and last traded at $459.00, with a volume of 13573 shares trading hands. The stock had previously closed at $456.57.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft raised shares of Hubbell from a “hold” rating to a “buy” rating and boosted their price target for the company from $431.00 to $441.00 in a report on Friday, September 6th. Barclays boosted their price target 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. Morgan Stanley started coverage on shares of Hubbell in a report on Friday, September 6th. They set an “equal weight” rating and a $407.00 price target for the company. JPMorgan Chase & Co. cut shares of Hubbell from an “overweight” rating to a “neutral” rating and lifted their price objective for the company from $385.00 to $454.00 in a research note on Thursday, October 10th. Finally, Wells Fargo & Company lifted their price objective on shares of Hubbell from $400.00 to $445.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $423.13.

View Our Latest Research Report on Hubbell

Hubbell Trading Down 2.0 %

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’s 50-day simple moving average is $403.55 and its 200 day simple moving average is $392.50. The stock has a market capitalization of $24.23 billion, a P/E ratio of 33.66, a PEG ratio of 1.67 and a beta of 0.90.

Hubbell (NYSE:HUBB – Get Free Report) last issued its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $4.37 EPS for the quarter, topping 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 period in the previous year, the business earned $4.07 earnings per share. Hubbell’s revenue for the quarter was up 6.3% compared to the same quarter last year. Equities research analysts anticipate that Hubbell Incorporated will post 16.41 EPS for the current fiscal 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 given a $1.22 dividend. This represents a $4.88 annualized dividend and a yield of 1.08%. The ex-dividend date of this dividend was Friday, August 30th. Hubbell’s dividend payout ratio (DPR) is presently 36.39%.

Insiders Place Their Bets

In related 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 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Hubbell news, CEO Gerben Bakker sold 15,677 shares of Hubbell stock in a transaction dated 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 transaction, the chief executive officer now owns 66,415 shares of the company’s stock, valued at $24,861,791.10. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Carlos M. Cardoso sold 450 shares of Hubbell 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 transaction, the director now directly owns 1,670 shares in the company, valued at approximately $608,781.80. 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 company insiders.

Hedge Funds Weigh In On Hubbell

Several institutional investors and hedge funds have recently bought and sold shares of HUBB. V Square Quantitative Management LLC purchased a new position in Hubbell during the 4th quarter valued at about $210,000. Vanguard Group Inc. lifted its holdings 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 worth $2,202,707,000 after purchasing an additional 918,808 shares during the last quarter. Nomura Holdings Inc. acquired a new stake in Hubbell in the 4th quarter worth approximately $358,000. Fulton Bank N.A. lifted its holdings in shares of Hubbell by 7.2% during the first quarter. Fulton Bank N.A. now owns 2,533 shares of the industrial products company’s stock worth $1,051,000 after buying an additional 171 shares during the last quarter. Finally, Czech National Bank lifted its holdings in shares of Hubbell by 0.4% during the first quarter. Czech National Bank now owns 9,435 shares of the industrial products company’s stock worth $3,916,000 after buying an additional 42 shares during the last quarter. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Hubbell Company Profile

(Get Free Report)

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.

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