Hubbell (NYSE:HUBB) Hits New 1-Year High – What’s Next?

Hubbell Incorporated (NYSE:HUBB) reached a new 52-week high during trading on Wednesday . The stock traded as high as $475.34 and last traded at $463.75, with a volume of 124588 shares traded. The stock had previously closed at $439.64.

Analysts Set New Price Targets

HUBB has been the topic of several recent analyst reports. Stephens reissued an “overweight” rating and issued a $450.00 target price on shares of Hubbell in a research note on Friday, August 2nd. Wells Fargo & Company raised their price objective on shares of Hubbell from $445.00 to $455.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Barclays upped their target price on Hubbell from $400.00 to $402.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Mizuho raised their price target on Hubbell from $450.00 to $490.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Hubbell from a “hold” rating to a “buy” rating and boosted their target price for the company from $431.00 to $441.00 in a research note on Friday, September 6th. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $445.56.

Hubbell Trading Up 7.4 %

The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.05 and a current ratio of 1.66. The company has a market capitalization of $25.34 billion, a P/E ratio of 31.69, a PEG ratio of 1.58 and a beta of 0.90. The company’s fifty day simple moving average is $423.54 and its 200-day simple moving average is $396.41.

Hubbell (NYSE:HUBB) last released its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $4.49 EPS for the quarter, beating the consensus estimate of $4.47 by $0.02. Hubbell had a net margin of 13.33% and a return on equity of 28.81%. The business had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.48 billion. During the same period in the prior year, the firm posted $3.95 earnings per share. The company’s quarterly revenue was up 4.9% on a year-over-year basis. Research analysts predict that Hubbell Incorporated will post 16.47 earnings per share for the current year.

Hubbell Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be given a dividend of $1.32 per share. The ex-dividend date of this dividend is Friday, November 29th. This is an increase from Hubbell’s previous quarterly dividend of $1.22. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.12%. Hubbell’s dividend payout ratio is presently 38.04%.

Insider Activity

In other Hubbell news, CEO Gerben Bakker sold 15,677 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $374.34, for a total transaction of $5,868,528.18. Following the completion of the transaction, the chief executive officer now directly owns 66,415 shares of the company’s stock, valued at approximately $24,861,791.10. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.78% of the company’s stock.

Institutional Trading of Hubbell

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Nvwm LLC acquired a new stake in shares of Hubbell during the 1st quarter worth approximately $25,000. Ashton Thomas Securities LLC purchased a new stake in Hubbell during the third quarter worth $41,000. Quarry LP acquired a new stake in Hubbell during the second quarter valued at $49,000. Northwest Investment Counselors LLC purchased a new position in Hubbell in the third quarter valued at $58,000. Finally, GAMMA Investing LLC raised its position in shares of Hubbell by 84.7% in the third quarter. GAMMA Investing LLC now owns 157 shares of the industrial products company’s stock worth $67,000 after acquiring an additional 72 shares during the period. 88.16% of the stock is owned by institutional investors and hedge funds.

Hubbell Company Profile

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.