Hubbell’s (HUBB) “Overweight” Rating Reaffirmed at Stephens

Stephens reaffirmed their overweight rating on shares of Hubbell (NYSE:HUBB) in a report published on Friday morning, Benzinga reports. The brokerage currently has a $450.00 price objective on the industrial products company’s stock.

Other equities research analysts have also issued reports about the stock. JPMorgan Chase & Co. raised their price objective on shares of Hubbell from $383.00 to $385.00 and gave the company an overweight rating in a report on Wednesday, July 31st. Barclays cut their price target on Hubbell from $384.00 to $368.00 and set an equal weight rating on the stock in a research note on Wednesday, July 31st. Finally, Wells Fargo & Company increased their price objective on Hubbell from $397.00 to $400.00 and gave the company an equal weight rating in a report on Wednesday, July 31st. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Hubbell presently has an average rating of Moderate Buy and a consensus price target of $402.57.

Hubbell Stock Up 0.9 %

Shares of HUBB stock traded up $3.14 during trading on Friday, reaching $367.56. The company’s stock had a trading volume of 230,072 shares, compared to its average volume of 468,002. Hubbell has a 1-year low of $248.37 and a 1-year high of $429.61. The stock’s 50-day moving average price is $376.65 and its 200 day moving average price is $381.16. The company has a market capitalization of $19.73 billion, a price-to-earnings ratio of 27.17, a P/E/G ratio of 1.43 and a beta of 0.90. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.81 and a quick ratio of 1.03.

Hubbell (NYSE:HUBB) last posted its quarterly earnings results 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. Hubbell had a net margin of 13.14% and a return on equity of 28.98%. The business had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter in the previous year, the firm posted $4.07 earnings per share. The company’s quarterly revenue was up 6.3% compared to the same quarter last year. On average, research analysts anticipate that Hubbell will post 16.38 EPS for the current year.

Hubbell Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, August 30th will be issued a $1.22 dividend. This represents a $4.88 annualized dividend and a dividend yield of 1.33%. The ex-dividend date is Friday, August 30th. Hubbell’s payout ratio is currently 36.39%.

Insider Activity at Hubbell

In other news, insider Alyssa R. Flynn sold 1,106 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $406.79, for a total transaction of $449,909.74. Following the transaction, the insider now directly owns 4,234 shares in the company, valued at $1,722,348.86. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, insider Mark Eugene Mikes sold 1,942 shares of the business’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $401.34, for a total value of $779,402.28. Following the transaction, the insider now owns 3,436 shares in the company, valued at approximately $1,379,004.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Alyssa R. Flynn sold 1,106 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $406.79, for a total value of $449,909.74. Following the completion of the transaction, the insider now directly owns 4,234 shares in the company, valued at approximately $1,722,348.86. The disclosure for this sale can be found here. Insiders sold a total of 3,055 shares of company stock valued at $1,232,139 in the last three months. 0.66% of the stock is currently owned by company insiders.

Institutional Trading of Hubbell

Several hedge funds have recently made changes to their positions in the company. Nordea Investment Management AB raised its position in Hubbell by 4.1% in the first quarter. Nordea Investment Management AB now owns 160,085 shares of the industrial products company’s stock worth $66,571,000 after acquiring an additional 6,275 shares in the last quarter. Van Leeuwen & Company LLC lifted its stake in shares of Hubbell by 59.8% in the fourth quarter. Van Leeuwen & Company LLC now owns 8,265 shares of the industrial products company’s stock valued at $2,719,000 after purchasing an additional 3,092 shares during the period. Chevy Chase Trust Holdings LLC boosted its holdings in Hubbell by 265.7% during the fourth quarter. Chevy Chase Trust Holdings LLC now owns 41,234 shares of the industrial products company’s stock worth $13,563,000 after buying an additional 29,959 shares in the last quarter. Clearbridge Investments LLC acquired a new position in Hubbell during the fourth quarter worth about $1,258,000. Finally, Focus Financial Network Inc. ADV purchased a new position in Hubbell in the fourth quarter valued at about $636,000. Institutional investors and hedge funds own 88.16% of the company’s stock.

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.