Hubbell (NYSE:HUBB) Research Coverage Started at Sanford C. Bernstein

Sanford C. Bernstein started coverage on shares of Hubbell (NYSE:HUBB) in a report issued on Tuesday, MarketBeat reports. The brokerage issued an outperform rating and a $535.00 target price on the industrial products company’s stock.

A number of other brokerages have also recently commented on HUBB. Morgan Stanley increased their target price on shares of Hubbell from $407.00 to $445.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Stephens restated an “overweight” rating and set a $450.00 price target on shares of Hubbell in a report on Friday, August 2nd. Mizuho upped their price target on Hubbell from $450.00 to $490.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Wells Fargo & Company increased their price objective on shares of Hubbell from $445.00 to $455.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. downgraded Hubbell from an “overweight” rating to a “neutral” rating and lifted their target price for the company from $385.00 to $454.00 in a research report on Thursday, October 10th. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $445.56.

Hubbell Price Performance

Shares of Hubbell stock traded down $5.14 during trading hours on Tuesday, reaching $466.98. The stock had a trading volume of 483,089 shares, compared to its average volume of 443,839. Hubbell has a twelve month low of $278.62 and a twelve month high of $481.35. The company has a current ratio of 1.66, a quick ratio of 1.05 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $25.07 billion, a PE ratio of 33.64, a PEG ratio of 1.58 and a beta of 0.90. The stock’s 50 day moving average is $426.63 and its 200 day moving average is $397.42.

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

Hubbell Increases Dividend

The firm also recently disclosed 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. This is a boost from Hubbell’s previous quarterly dividend of $1.22. This represents a $5.28 annualized dividend and a dividend yield of 1.13%. The ex-dividend date is Friday, November 29th. Hubbell’s dividend payout ratio is currently 35.16%.

Institutional Investors Weigh In On Hubbell

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Norden Group LLC acquired a new stake in Hubbell during the first quarter worth approximately $261,000. Janney Montgomery Scott LLC raised its stake in Hubbell by 4.0% during the 1st quarter. Janney Montgomery Scott LLC now owns 12,710 shares of the industrial products company’s stock worth $5,276,000 after acquiring an additional 488 shares in the last quarter. Fidelis Capital Partners LLC purchased a new stake in Hubbell in the first quarter valued at $84,000. Jennison Associates LLC acquired a new position in Hubbell in the first quarter valued at $428,000. Finally, Mediolanum International Funds Ltd purchased a new position in shares of Hubbell during the first quarter worth about $2,266,000. 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.