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

by · The Markets Daily

Shares of Hubbell Incorporated (NYSE:HUBB – Get Free Report) have earned a consensus rating of “Moderate Buy” from the nine brokerages that are presently covering the firm, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $404.88.

Several equities research analysts recently commented on the company. Stephens reissued an “overweight” rating and set a $450.00 target price on shares of Hubbell in a report on Friday, August 2nd. Wells Fargo & Company boosted their price objective on Hubbell from $397.00 to $400.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft raised Hubbell from a “hold” rating to a “buy” rating and raised their target price for the company from $431.00 to $441.00 in a research note on Friday, September 6th. Barclays dropped their price target on shares of Hubbell from $384.00 to $368.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 31st. Finally, Morgan Stanley initiated coverage on shares of Hubbell in a research report on Friday, September 6th. They set an “equal weight” rating and a $407.00 price objective for the company.

Read Our Latest Analysis on Hubbell

Hubbell Trading Up 0.1 %

Shares of HUBB stock opened at $428.48 on Friday. The firm has a market capitalization of $23.00 billion, a PE ratio of 31.95, a price-to-earnings-growth ratio of 1.56 and a beta of 0.90. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.13 and a current ratio of 1.81. Hubbell has a 1 year low of $248.37 and a 1 year high of $433.03. The stock has a fifty day moving average of $387.00 and a two-hundred day moving average of $389.97.

Hubbell (NYSE:HUBB – Get Free Report) last announced its earnings results on Tuesday, July 30th. The industrial products company reported $4.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $1.48 billion. During the same quarter in the prior year, the firm posted $4.07 EPS. Hubbell’s revenue was up 6.3% compared to the same quarter last year. As a group, research analysts expect that Hubbell will post 16.45 EPS for the current year.

Hubbell Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were given a $1.22 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $4.88 annualized dividend and a dividend yield of 1.14%. Hubbell’s dividend payout ratio (DPR) is presently 36.39%.

Insider Activity at Hubbell

In other Hubbell news, CEO Gerben Bakker sold 15,677 shares of the firm’s 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 completion of the sale, the chief executive officer now directly owns 66,415 shares in the company, valued at approximately $24,861,791.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Hubbell news, CEO Gerben Bakker sold 15,677 shares of Hubbell 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 completion of the sale, the chief executive officer now owns 66,415 shares of the company’s stock, valued at approximately $24,861,791.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Carlos M. Cardoso sold 450 shares of the company’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 directly owns 1,670 shares in the company, valued at $608,781.80. The disclosure for this sale can be found here. 0.66% of the stock is owned by insiders.

Institutional Investors Weigh In On Hubbell

Several large investors have recently made changes to their positions in HUBB. Principal Securities Inc. bought a new stake in shares of Hubbell during the 4th quarter worth about $40,000. UBS Group AG lifted its stake in shares of Hubbell by 52.7% in the fourth quarter. UBS Group AG now owns 46,749 shares of the industrial products company’s stock worth $15,377,000 after buying an additional 16,133 shares during the last quarter. Clearbridge Investments LLC bought a new stake in shares of Hubbell during the 4th quarter worth $1,258,000. Corient Private Wealth LLC grew its stake in Hubbell by 18.3% in the 4th quarter. Corient Private Wealth LLC now owns 10,076 shares of the industrial products company’s stock valued at $3,314,000 after buying an additional 1,556 shares during the last quarter. Finally, Trexquant Investment LP bought a new position in Hubbell in the 4th quarter worth $2,948,000. 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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