Stephens started coverage on shares of Hubbell (NYSE:HUBB) in a report published on Monday morning, Benzinga reports. The brokerage issued an overweight rating and a $140.00 price objective on the industrial products company’s stock.
Several other research firms have also commented on HUBB. JMP Securities set a $146.00 price target on shares of Hubbell and gave the company a buy rating in a report on Tuesday, April 2nd. Zacks Investment Research raised shares of HB Fuller from a sell rating to a hold rating in a report on Wednesday, July 3rd. Four investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Hubbell currently has an average rating of Buy and an average price target of $139.67.
Shares of NYSE HUBB traded down $1.17 during midday trading on Monday, hitting $125.21. The company’s stock had a trading volume of 7,643 shares, compared to its average volume of 339,917. Hubbell has a 1-year low of $91.88 and a 1-year high of $137.67. The business has a fifty day simple moving average of $123.62. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.16 and a current ratio of 1.95. The firm has a market cap of $7.04 billion, a price-to-earnings ratio of 17.14, a P/E/G ratio of 1.59 and a beta of 1.49.
The company also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Friday, May 31st were given a $0.84 dividend. The ex-dividend date of this dividend was Thursday, May 30th. This represents a $3.36 annualized dividend and a yield of 2.68%. Hubbell’s dividend payout ratio is presently 46.09%.
In other Hubbell news, Chairman David G. Nord sold 10,762 shares of the business’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $129.88, for a total transaction of $1,397,768.56. Following the sale, the chairman now directly owns 144,055 shares in the company, valued at approximately $18,709,863.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Kevin Arthur Poyck sold 247 shares of the business’s stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $122.00, for a total transaction of $30,134.00. Following the sale, the insider now owns 15,572 shares in the company, valued at $1,899,784. The disclosure for this sale can be found here. Over the last quarter, insiders sold 19,177 shares of company stock worth $2,477,468. 2.20% of the stock is currently owned by insiders.
Several hedge funds have recently added to or reduced their stakes in HUBB. American Century Companies Inc. raised its position in shares of Hubbell by 75.1% during the 4th quarter. American Century Companies Inc. now owns 4,463,727 shares of the industrial products company’s stock worth $443,427,000 after buying an additional 1,914,706 shares in the last quarter. Lord Abbett & CO. LLC raised its position in shares of Hubbell by 64.9% during the 4th quarter. Lord Abbett & CO. LLC now owns 1,762,758 shares of the industrial products company’s stock worth $175,112,000 after buying an additional 693,479 shares in the last quarter. BlackRock Inc. raised its position in shares of Hubbell by 9.5% during the 1st quarter. BlackRock Inc. now owns 5,940,281 shares of the industrial products company’s stock worth $700,833,000 after buying an additional 516,378 shares in the last quarter. Norges Bank bought a new stake in shares of Hubbell during the 4th quarter worth about $34,205,000. Finally, Anchor Capital Advisors LLC bought a new stake in shares of Hubbell during the 1st quarter worth about $23,553,000. Institutional investors own 85.48% of the company’s stock.
Hubbell Company Profile
Hubbell Incorporated designs, manufactures, and sells electrical and electronic products in the United States and internationally. It operates through two segments, Electrical and Power. The Electrical segment offers standard and special application wiring device products, rough-in electrical products, connector and grounding products, lighting fixtures and controls, 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 for the natural gas distribution market.
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