Shares of Hubbell Incorporated (NYSE:HUBB) have earned a consensus rating of “Buy” from the nine analysts that are covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $136.00.
Several brokerages recently issued reports on HUBB. Morgan Stanley set a $131.00 price target on Hubbell and gave the company a “buy” rating in a research note on Wednesday, October 24th. Wolfe Research upgraded Hubbell to a “buy” rating and set a $131.00 price target for the company in a research note on Wednesday, October 24th. They noted that the move was a valuation call. Zacks Investment Research cut Hubbell from a “buy” rating to a “hold” rating in a research note on Wednesday, October 24th. Finally, ValuEngine cut Hubbell from a “hold” rating to a “sell” rating in a research note on Tuesday, October 23rd.
Shares of HUBB stock traded up $1.02 during trading on Wednesday, hitting $110.75. The company had a trading volume of 429,948 shares, compared to its average volume of 496,498. The company has a current ratio of 1.88, a quick ratio of 1.16 and a debt-to-equity ratio of 1.01. The stock has a market cap of $5.91 billion, a P/E ratio of 18.68, a price-to-earnings-growth ratio of 1.48 and a beta of 1.34. Hubbell has a one year low of $97.02 and a one year high of $149.03.
Hubbell (NYSE:HUBB) last issued its quarterly earnings results on Tuesday, October 23rd. The industrial products company reported $2.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.11 by $0.11. The business had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.17 billion. Hubbell had a return on equity of 23.08% and a net margin of 6.88%. The firm’s revenue for the quarter was up 24.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.65 earnings per share. Analysts forecast that Hubbell will post 7.27 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 14th. Shareholders of record on Friday, November 30th will be paid a dividend of $0.84 per share. The ex-dividend date of this dividend is Thursday, November 29th. This is a boost from Hubbell’s previous quarterly dividend of $0.77. This represents a $3.36 annualized dividend and a yield of 3.03%. Hubbell’s dividend payout ratio is presently 51.94%.
In other Hubbell news, Director Neal J. Keating bought 1,000 shares of the business’s stock in a transaction on Monday, October 29th. The stock was purchased at an average cost of $101.55 per share, for a total transaction of $101,550.00. Following the completion of the purchase, the director now directly owns 6,971 shares of the company’s stock, valued at $707,905.05. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, Director John F. Malloy bought 994 shares of the business’s stock in a transaction on Friday, October 26th. The shares were acquired at an average price of $100.82 per share, with a total value of $100,215.08. Following the completion of the purchase, the director now directly owns 13,020 shares of the company’s stock, valued at $1,312,676.40. The disclosure for this purchase can be found here. 0.69% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HUBB. Valeo Financial Advisors LLC lifted its stake in Hubbell by 156.4% during the third quarter. Valeo Financial Advisors LLC now owns 1,164 shares of the industrial products company’s stock worth $118,000 after purchasing an additional 710 shares during the last quarter. Penserra Capital Management LLC acquired a new position in shares of Hubbell during the third quarter worth $149,000. Cerebellum GP LLC acquired a new position in shares of Hubbell during the third quarter worth $183,000. Palo Capital Inc. acquired a new position in shares of Hubbell during the third quarter worth $184,000. Finally, Vigilant Capital Management LLC acquired a new position in shares of Hubbell during the second quarter worth $188,000. Hedge funds and other institutional investors own 86.68% of the company’s stock.
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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