Hubbell Incorporated (NYSE:HUBB) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Hubbell Incorporated (NYSE:HUBB) have been given an average recommendation of “Moderate Buy” by the nine brokerages that are currently covering the stock, MarketBeat.com reports. Four analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $383.57.

HUBB has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft began coverage on shares of Hubbell in a research report on Monday, March 11th. They issued a “hold” rating and a $427.00 target price for the company. Mizuho increased their price objective on shares of Hubbell from $370.00 to $450.00 and gave the stock a “buy” rating in a report on Wednesday, March 20th. Wells Fargo & Company increased their price objective on shares of Hubbell from $351.00 to $360.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 31st. Barclays raised their target price on shares of Hubbell from $340.00 to $400.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 2nd. Finally, StockNews.com lowered shares of Hubbell from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd.

Hubbell Stock Down 0.1 %

HUBB stock opened at $407.15 on Thursday. The firm has a market capitalization of $21.83 billion, a P/E ratio of 28.98, a P/E/G ratio of 2.48 and a beta of 0.94. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.64 and a quick ratio of 1.01. The company’s 50 day simple moving average is $396.93 and its 200-day simple moving average is $343.79. Hubbell has a 52-week low of $248.37 and a 52-week high of $429.61.

Hubbell (NYSE:HUBB) last released its quarterly earnings data on Tuesday, January 30th. The industrial products company reported $3.69 earnings per share for the quarter, beating the consensus estimate of $3.58 by $0.11. The firm had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.32 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 10.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.60 EPS. As a group, equities research analysts anticipate that Hubbell will post 16.43 EPS for the current year.

Hubbell Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Friday, May 31st will be issued a dividend of $1.22 per share. The ex-dividend date of this dividend is Friday, May 31st. This represents a $4.88 annualized dividend and a yield of 1.20%. Hubbell’s dividend payout ratio (DPR) is currently 34.73%.

Insider Activity

In other news, CFO William R. Sperry sold 14,925 shares of Hubbell stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $352.99, for a total value of $5,268,375.75. Following the sale, the chief financial officer now directly owns 37,848 shares in the company, valued at $13,359,965.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Hubbell news, VP Nero Jonathan M. Del sold 1,098 shares of Hubbell stock in a transaction on 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 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 document filed with the SEC, which is available at the SEC website. Also, CFO William R. Sperry sold 14,925 shares of Hubbell stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $352.99, for a total transaction of $5,268,375.75. Following the transaction, the chief financial officer now directly owns 37,848 shares of the company’s stock, valued at $13,359,965.52. The disclosure for this sale can be found here. Insiders have sold 34,125 shares of company stock worth $12,065,100 over the last ninety days. Insiders own 0.66% of the company’s stock.

Institutional Investors Weigh In On Hubbell

Institutional investors have recently modified their holdings of the business. International Assets Investment Management LLC raised its stake in Hubbell by 32,734.4% in the fourth quarter. International Assets Investment Management LLC now owns 1,472,949 shares of the industrial products company’s stock valued at $484,497,000 after purchasing an additional 1,468,463 shares in the last quarter. 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. Norges Bank bought a new stake in Hubbell in the fourth quarter valued at approximately $143,024,000. Massachusetts Financial Services Co. MA boosted its holdings in Hubbell by 46.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,020,067 shares of the industrial products company’s stock valued at $319,699,000 after acquiring an additional 323,116 shares during the last quarter. Finally, Westwood Holdings Group Inc. boosted its holdings in shares of Hubbell by 575.7% during the 4th quarter. Westwood Holdings Group Inc. now owns 288,186 shares of the industrial products company’s stock worth $94,793,000 after buying an additional 245,536 shares in the last quarter. 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.