Hubbell (NYSE:HUBB) Hits New 52-Week High – What’s Next?

Hubbell Inc (NYSE:HUBB)’s stock price hit a new 52-week high during trading on Thursday . The stock traded as high as $498.89 and last traded at $486.7370, with a volume of 77207 shares changing hands. The stock had previously closed at $485.73.

Analysts Set New Price Targets

HUBB has been the topic of several research analyst reports. Barclays upped their price target on shares of Hubbell from $456.00 to $465.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 7th. UBS Group reaffirmed a “neutral” rating and issued a $450.00 price target on shares of Hubbell in a report on Friday, December 12th. Morgan Stanley set a $515.00 price target on Hubbell in a research report on Wednesday, January 7th. Wells Fargo & Company upped their price objective on shares of Hubbell from $500.00 to $515.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 7th. Finally, Mizuho raised their target price on shares of Hubbell from $480.00 to $500.00 and gave the company an “outperform” rating in a research note on Monday, January 5th. Five equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, Hubbell has an average rating of “Moderate Buy” and a consensus target price of $497.25.

Hubbell Stock Down 2.0%

The company has a market cap of $25.94 billion, a P/E ratio of 30.28, a P/E/G ratio of 2.52 and a beta of 1.02. The stock has a 50-day moving average of $457.30 and a two-hundred day moving average of $442.25. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.85 and a current ratio of 1.36.

Hubbell (NYSE:HUBB) last posted its quarterly earnings results on Tuesday, October 28th. The industrial products company reported $5.17 EPS for the quarter, topping the consensus estimate of $4.98 by $0.19. The firm had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.54 billion. Hubbell had a net margin of 15.24% and a return on equity of 27.68%. The business’s revenue was up 4.1% compared to the same quarter last year. During the same period last year, the firm posted $4.49 earnings per share. On average, research analysts anticipate that Hubbell Inc will post 17.63 EPS for the current fiscal year.

Insider Activity at Hubbell

In other Hubbell news, insider Mark Eugene Mikes sold 2,470 shares of the company’s stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $466.50, for a total transaction of $1,152,255.00. Following the completion of the sale, the insider directly owned 4,785 shares in the company, valued at $2,232,202.50. This represents a 34.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Alyssa R. Flynn sold 2,011 shares of the stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $470.32, for a total value of $945,813.52. Following the sale, the insider owned 3,243 shares of the company’s stock, valued at $1,525,247.76. This represents a 38.28% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.66% of the stock is owned by insiders.

Institutional Investors Weigh In On Hubbell

Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Hubbell by 0.3% during the second quarter. Vanguard Group Inc. now owns 6,646,922 shares of the industrial products company’s stock valued at $2,714,669,000 after acquiring an additional 21,508 shares during the last quarter. State Street Corp grew its stake in Hubbell by 3.6% in the third quarter. State Street Corp now owns 2,261,944 shares of the industrial products company’s stock worth $973,337,000 after purchasing an additional 78,539 shares during the period. Massachusetts Financial Services Co. MA grew its position in shares of Hubbell by 15.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,655,746 shares of the industrial products company’s stock worth $712,484,000 after buying an additional 226,856 shares during the period. Invesco Ltd. grew its holdings in Hubbell by 0.6% in the second quarter. Invesco Ltd. now owns 1,532,035 shares of the industrial products company’s stock worth $625,698,000 after purchasing an additional 9,697 shares during the period. Finally, Geode Capital Management LLC grew its stake in shares of Hubbell by 1.8% in the 2nd quarter. Geode Capital Management LLC now owns 1,353,824 shares of the industrial products company’s stock worth $550,571,000 after buying an additional 24,110 shares during the last quarter. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Hubbell Company Profile

Hubbell Incorporated (NYSE: HUBB) is an industrial manufacturer and distributor of electrical and electronic products serving a range of end markets including commercial and residential construction, industrial, and utility customers. Founded in 1888 by Harvey Hubbell, the company has a long history in electrical innovation and product development and is headquartered in Connecticut. Hubbell designs, manufactures and sells components and systems that enable the distribution and control of electrical power and provide lighting solutions for indoor and outdoor environments.

The company’s offerings span a broad portfolio of products used by contractors, utilities, original equipment manufacturers and facility owners.