Hubbell Incorporated (NYSE:HUBB) Receives $404.88 Consensus PT from Brokerages

Hubbell Incorporated (NYSE:HUBB) has earned an average recommendation of “Moderate Buy” from the nine analysts that are presently covering the firm, Marketbeat reports. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $404.88.

A number of research firms recently issued reports on HUBB. Stephens reaffirmed an “overweight” rating and issued a $450.00 target price on shares of Hubbell in a research note on Friday, August 2nd. Deutsche Bank Aktiengesellschaft upgraded Hubbell from a “hold” rating to a “buy” rating and upped their price objective for the company from $431.00 to $441.00 in a research report on Friday, September 6th. Morgan Stanley started coverage on Hubbell in a research report on Friday, September 6th. They set an “equal weight” rating and a $407.00 price objective for the company. Wells Fargo & Company upped their target price on shares of Hubbell from $397.00 to $400.00 and gave the company an “equal weight” rating in a report on Wednesday, July 31st. Finally, Barclays lowered their price target on shares of Hubbell from $384.00 to $368.00 and set an “equal weight” rating for the company in a report on Wednesday, July 31st.

Hubbell Stock Performance

Shares of HUBB stock opened at $428.48 on Friday. The stock has a fifty day moving average price of $387.00 and a 200 day moving average price of $389.97. 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 stock has a market cap of $23.00 billion, a PE ratio of 31.95, a P/E/G ratio of 1.56 and a beta of 0.90. Hubbell has a 1 year low of $248.37 and a 1 year high of $433.03.

Hubbell (NYSE:HUBB) last released its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $4.37 EPS for the quarter, topping the consensus estimate of $4.24 by $0.13. The business had revenue of $1.45 billion for 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%. The business’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $4.07 EPS. Sell-side analysts forecast that Hubbell will post 16.45 earnings per share for the current fiscal year.

Hubbell Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 30th were given a dividend of $1.22 per share. This represents a $4.88 annualized dividend and a yield of 1.14%. The ex-dividend date of this dividend was Friday, August 30th. Hubbell’s dividend payout ratio (DPR) is 36.39%.

Insider Buying and Selling at Hubbell

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 transaction 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 approximately $608,781.80. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CEO Gerben Bakker sold 15,677 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $374.34, for a total transaction of $5,868,528.18. Following the sale, the chief executive officer now directly owns 66,415 shares of the company’s stock, valued at approximately $24,861,791.10. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 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 completion of the transaction, the director now directly owns 1,670 shares of the company’s stock, valued at approximately $608,781.80. The disclosure for this sale can be found here. 0.66% of the stock is owned by company insiders.

Institutional Investors Weigh In On Hubbell

A number of institutional investors have recently modified their holdings of HUBB. Nvwm LLC acquired a new position in Hubbell in the first quarter valued at approximately $25,000. EverSource Wealth Advisors LLC grew its stake in Hubbell by 1,850.0% during the 4th 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 last quarter. Principal Securities Inc. acquired a new stake in Hubbell in the fourth quarter worth $40,000. Quarry LP bought a new stake in Hubbell in the second quarter valued at $49,000. Finally, Riverview Trust Co acquired a new position in shares of Hubbell during the first quarter valued at $52,000. 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.