Hubbell Incorporated (NYSE:HUBB) Receives Average Recommendation of “Moderate Buy” from Brokerages

Hubbell Incorporated (NYSE:HUBB) has received an average rating of “Moderate Buy” from the nine analysts that are presently covering the firm, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $388.86.

A number of research firms have recently commented on HUBB. Mizuho boosted their price target on shares of Hubbell from $370.00 to $450.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. StockNews.com lowered Hubbell from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Deutsche Bank Aktiengesellschaft started coverage on Hubbell in a research note on Monday, March 11th. They issued a “hold” rating and a $427.00 target price on the stock. Wells Fargo & Company dropped their price target on Hubbell from $435.00 to $397.00 and set an “equal weight” rating for the company in a research report on Wednesday. Finally, Barclays upped their price objective on shares of Hubbell from $340.00 to $400.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 2nd.

Hubbell Stock Up 0.8 %

Shares of NYSE HUBB opened at $373.30 on Thursday. The company has a quick ratio of 1.01, a current ratio of 1.64 and a debt-to-equity ratio of 0.70. The company has a market cap of $20.02 billion, a P/E ratio of 26.57, a P/E/G ratio of 2.48 and a beta of 0.94. Hubbell has a 52 week low of $248.37 and a 52 week high of $429.61. The business has a 50-day simple moving average of $397.61 and a two-hundred day simple moving average of $344.52.

Hubbell (NYSE:HUBB) last announced its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $3.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.54 by $0.06. The firm had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.39 billion. Hubbell had a net margin of 14.14% and a return on equity of 30.82%. The company’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same period in the prior year, the firm posted $3.61 earnings per share. Research analysts anticipate that Hubbell will post 16.43 earnings per share for the current fiscal year.

Hubbell Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Friday, May 31st will be given a dividend of $1.22 per share. The ex-dividend date is Thursday, May 30th. This represents a $4.88 annualized dividend and a yield of 1.31%. Hubbell’s payout ratio is currently 34.73%.

Insider Buying and Selling at Hubbell

In other news, VP Nero Jonathan M. Del sold 1,098 shares of the stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $352.74, for a total transaction of $387,308.52. Following the completion of the sale, the vice president now directly owns 3,646 shares in the company, valued at $1,286,090.04. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, VP Nero Jonathan M. Del sold 1,098 shares of the business’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $352.74, for a total transaction of $387,308.52. Following the transaction, the vice president now directly owns 3,646 shares of the company’s stock, valued at $1,286,090.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO William R. Sperry sold 14,925 shares of the firm’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $352.99, for a total value of $5,268,375.75. Following the completion of the sale, the chief financial officer now directly owns 37,848 shares of the company’s stock, valued at approximately $13,359,965.52. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 34,125 shares of company stock worth $12,065,100. 0.78% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Hubbell

Hedge funds and other institutional investors have recently modified their holdings of the stock. EverSource Wealth Advisors LLC lifted its holdings in Hubbell by 1,850.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 78 shares of the industrial products company’s stock worth $26,000 after buying an additional 74 shares during the period. Lindbrook Capital LLC lifted its stake in shares of Hubbell by 127.5% in the 4th quarter. Lindbrook Capital LLC now owns 91 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 51 shares during the period. Baillie Gifford & Co. purchased a new position in shares of Hubbell in the 4th quarter valued at approximately $33,000. Principal Securities Inc. bought a new stake in shares of Hubbell during the fourth quarter valued at approximately $40,000. Finally, Riverview Trust Co purchased a new stake in Hubbell in the first quarter worth $52,000. Hedge funds and other institutional investors own 88.16% of the company’s stock.

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.