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

Hubbell Incorporated (NYSE:HUBB) has been assigned an average recommendation of “Moderate Buy” from the nine brokerages that are covering the firm, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $423.13.

Several brokerages have recently issued reports on HUBB. JPMorgan Chase & Co. lowered shares of Hubbell from an “overweight” rating to a “neutral” rating and raised their price target for the stock from $385.00 to $454.00 in a research note on Thursday, October 10th. Morgan Stanley began coverage on shares of Hubbell in a research note on Friday, September 6th. They set an “equal weight” rating and a $407.00 price target for the company. Barclays raised their price target on shares of Hubbell from $368.00 to $400.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 2nd. Deutsche Bank Aktiengesellschaft upgraded shares of Hubbell from a “hold” rating to a “buy” rating and raised their price target for the stock from $431.00 to $441.00 in a research note on Friday, September 6th. Finally, Stephens reaffirmed an “overweight” rating and issued a $450.00 price objective on shares of Hubbell in a report on Friday, August 2nd.

Hubbell Trading Up 0.6 %

NYSE:HUBB opened at $453.96 on Thursday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.13 and a current ratio of 1.81. The firm has a market cap of $24.37 billion, a price-to-earnings ratio of 33.85, a price-to-earnings-growth ratio of 1.67 and a beta of 0.90. Hubbell has a 52 week low of $248.37 and a 52 week high of $461.77. The firm has a 50-day moving average price of $405.45 and a two-hundred day moving average price of $392.93.

Hubbell (NYSE:HUBB) last posted its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $4.37 EPS for the quarter, beating 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 during the quarter, compared to analyst estimates of $1.48 billion. During the same quarter last year, the business posted $4.07 EPS. The company’s revenue for the quarter was up 6.3% on a year-over-year basis. On average, equities analysts expect that Hubbell will post 16.41 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. Investors of record on Friday, August 30th were issued a $1.22 dividend. This represents a $4.88 annualized dividend and a yield of 1.07%. The ex-dividend date was Friday, August 30th. Hubbell’s dividend payout ratio (DPR) is presently 36.39%.

Insider Buying and Selling

In other Hubbell news, Director Carlos M. Cardoso sold 450 shares of the firm’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 completion of the transaction, the director now directly owns 1,670 shares of the company’s stock, valued at $608,781.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Hubbell news, CEO Gerben Bakker sold 15,677 shares of the firm’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $374.34, for a total value of $5,868,528.18. Following the completion of 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 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 Hubbell 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 sale, the director now directly owns 1,670 shares of the company’s stock, valued at $608,781.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.66% of the stock is owned by insiders.

Institutional Trading of Hubbell

A number of hedge funds have recently made changes to their positions in the stock. nVerses Capital LLC bought a new stake in shares of Hubbell during the 3rd quarter worth $1,071,000. McKinley Carter Wealth Services Inc. lifted its holdings in shares of Hubbell by 1.9% during the 3rd quarter. McKinley Carter Wealth Services Inc. now owns 17,461 shares of the industrial products company’s stock worth $7,479,000 after acquiring an additional 332 shares during the last quarter. Swedbank AB raised its position in Hubbell by 5.1% in the 3rd quarter. Swedbank AB now owns 43,308 shares of the industrial products company’s stock worth $18,551,000 after purchasing an additional 2,100 shares during the period. Occidental Asset Management LLC raised its position in Hubbell by 2.3% in the 3rd quarter. Occidental Asset Management LLC now owns 11,244 shares of the industrial products company’s stock worth $4,816,000 after purchasing an additional 252 shares during the period. Finally, Creative Planning raised its position in Hubbell by 19.3% in the 3rd quarter. Creative Planning now owns 4,144 shares of the industrial products company’s stock worth $1,775,000 after purchasing an additional 671 shares during the period. 88.16% of the stock is owned by institutional investors.

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.