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

Shares of Hubbell Incorporated (NYSE:HUBB) have earned a consensus recommendation of “Moderate Buy” from the eight ratings firms that are currently covering the stock, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $402.57.

HUBB has been the topic of several recent research reports. Barclays lowered their price objective on Hubbell from $384.00 to $368.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 31st. Stephens restated an “overweight” rating and set a $450.00 price target on shares of Hubbell in a research report on Friday, August 2nd. JPMorgan Chase & Co. upped their price objective on shares of Hubbell from $383.00 to $385.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Finally, Wells Fargo & Company raised their target price on Hubbell from $397.00 to $400.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 31st.

Hubbell Price Performance

Shares of NYSE HUBB opened at $378.96 on Wednesday. Hubbell has a 52 week low of $248.37 and a 52 week high of $429.61. The company has a quick ratio of 1.13, a current ratio of 1.81 and a debt-to-equity ratio of 0.62. The firm has a market cap of $20.34 billion, a P/E ratio of 28.26, a P/E/G ratio of 1.51 and a beta of 0.90. The business’s 50 day moving average price is $375.39 and its 200 day moving average price is $386.46.

Hubbell (NYSE:HUBB) last released its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $4.37 EPS for the quarter, beating the consensus estimate of $4.24 by $0.13. Hubbell had a net margin of 13.14% and a return on equity of 28.98%. The business had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.48 billion. During the same period in the prior year, the firm earned $4.07 EPS. The business’s revenue for the quarter was up 6.3% on a year-over-year basis. On average, sell-side analysts expect that Hubbell will post 16.39 earnings per share for the current year.

Hubbell Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 30th will be paid a dividend of $1.22 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $4.88 annualized dividend and a yield of 1.29%. Hubbell’s dividend payout ratio (DPR) is currently 36.39%.

Insider Buying and Selling at Hubbell

In other news, Director Carlos M. Cardoso sold 450 shares of Hubbell stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $364.54, for a total value of $164,043.00. Following the sale, the director now directly owns 1,670 shares of the company’s stock, valued at $608,781.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Hubbell news, CEO Gerben Bakker sold 15,677 shares of the stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $374.34, for a total value of $5,868,528.18. Following the completion of the sale, the chief executive officer now owns 66,415 shares in the company, valued at approximately $24,861,791.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Carlos M. Cardoso sold 450 shares of the firm’s stock in a transaction that occurred 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 in the company, valued at $608,781.80. The disclosure for this sale can be found here. Insiders own 0.66% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Cetera Investment Advisers raised its stake in Hubbell by 8.2% during the second quarter. Cetera Investment Advisers now owns 6,484 shares of the industrial products company’s stock worth $2,370,000 after purchasing an additional 493 shares during the period. Quarry LP acquired a new stake in shares of Hubbell during the 2nd quarter worth approximately $49,000. Creative Planning raised its position in shares of Hubbell by 31.9% during the 2nd quarter. Creative Planning now owns 3,473 shares of the industrial products company’s stock valued at $1,269,000 after buying an additional 839 shares during the period. Susquehanna Fundamental Investments LLC lifted its holdings in Hubbell by 1,221.1% in the second quarter. Susquehanna Fundamental Investments LLC now owns 21,138 shares of the industrial products company’s stock valued at $7,726,000 after acquiring an additional 19,538 shares during the last quarter. Finally, Scientech Research LLC purchased a new position in Hubbell in the second quarter worth approximately $2,316,000. Institutional investors and hedge funds 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.