Hubbell (NYSE:HUBB) Reaches New 52-Week High Following Analyst Upgrade

Hubbell Incorporated (NYSE:HUBB) reached a new 52-week high during mid-day trading on Monday after Wells Fargo & Company raised their price target on the stock from $400.00 to $445.00. Wells Fargo & Company currently has an equal weight rating on the stock. Hubbell traded as high as $433.95 and last traded at $432.98, with a volume of 59167 shares changing hands. The stock had previously closed at $429.72.

A number of other research analysts have also recently commented on HUBB. Barclays raised their price target on Hubbell from $368.00 to $400.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 2nd. Morgan Stanley assumed coverage on shares of Hubbell in a research report on Friday, September 6th. They issued an “equal weight” rating and a $407.00 target price for the company. Stephens reiterated an “overweight” rating and set a $450.00 price target on shares of Hubbell in a research report on Friday, August 2nd. Deutsche Bank Aktiengesellschaft raised shares of Hubbell from a “hold” rating to a “buy” rating and lifted their price objective for the company from $431.00 to $441.00 in a research note on Friday, September 6th. Finally, JPMorgan Chase & Co. upped their target price on Hubbell from $383.00 to $385.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $414.50.

Insider Buying and Selling at Hubbell

In other news, Director Carlos M. Cardoso sold 450 shares of the company’s stock in a transaction on Tuesday, August 6th. The shares were 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 approximately $608,781.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other 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 transaction of $164,043.00. Following the sale, the director now directly owns 1,670 shares of the company’s stock, valued at approximately $608,781.80. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Gerben Bakker sold 15,677 shares of the company’s stock in a transaction that occurred 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 represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.66% of the company’s stock.

Institutional Investors Weigh In On Hubbell

Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in Hubbell by 15.9% in the fourth quarter. Vanguard Group Inc. now owns 6,696,582 shares of the industrial products company’s stock valued at $2,202,707,000 after acquiring an additional 918,808 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Hubbell by 16.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,035,596 shares of the industrial products company’s stock worth $743,970,000 after acquiring an additional 291,850 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of Hubbell by 16.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,980,456 shares of the industrial products company’s stock worth $821,989,000 after acquiring an additional 286,134 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of Hubbell by 3.6% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,335,218 shares of the industrial products company’s stock valued at $487,995,000 after purchasing an additional 46,813 shares during the period. Finally, FIL Ltd boosted its position in shares of Hubbell by 0.6% during the 4th quarter. FIL Ltd now owns 1,115,510 shares of the industrial products company’s stock valued at $366,925,000 after purchasing an additional 6,526 shares in the last quarter. Institutional investors own 88.16% of the company’s stock.

Hubbell Stock Up 0.6 %

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 has a 50 day moving average of $395.66 and a 200 day moving average of $391.16. The firm has a market cap of $23.68 billion, a price-to-earnings ratio of 32.89, a PEG ratio of 1.56 and a beta of 0.90.

Hubbell (NYSE:HUBB) last released its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $4.37 earnings per share for the quarter, beating the consensus estimate of $4.24 by $0.13. The company had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.48 billion. Hubbell had a net margin of 13.14% and a return on equity of 28.98%. Hubbell’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.07 EPS. As a group, sell-side analysts predict that Hubbell Incorporated will post 16.45 earnings per share for the current year.

Hubbell Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were given a dividend of $1.22 per share. The ex-dividend date was Friday, August 30th. This represents a $4.88 dividend on an annualized basis and a dividend yield of 1.11%. Hubbell’s dividend payout ratio (DPR) is presently 36.39%.

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.