Hubbell (NYSE:HUBB) Hits New 52-Week Low at $170.32

Hubbell Incorporated (NYSE:HUBBGet Rating) shares hit a new 52-week low during trading on Friday . The company traded as low as $170.32 and last traded at $170.59, with a volume of 1068 shares changing hands. The stock had previously closed at $173.00.

Several research firms have weighed in on HUBB. StockNews.com raised shares of Hubbell from a “hold” rating to a “buy” rating in a report on Saturday, April 30th. Morgan Stanley lowered their target price on Hubbell from $200.00 to $190.00 and set an “equal weight” rating on the stock in a research note on Tuesday, May 31st. Finally, Wells Fargo & Company boosted their price target on Hubbell from $181.00 to $200.00 in a research note on Thursday, April 28th.

The company has a fifty day simple moving average of $190.76 and a two-hundred day simple moving average of $191.66. The stock has a market capitalization of $9.19 billion, a price-to-earnings ratio of 18.65, a PEG ratio of 1.95 and a beta of 1.13. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.27 and a current ratio of 2.00.

Hubbell (NYSE:HUBBGet Rating) last posted its quarterly earnings results on Tuesday, April 26th. The industrial products company reported $2.12 EPS for the quarter, beating analysts’ consensus estimates of $1.86 by $0.26. The business had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.09 billion. Hubbell had a return on equity of 21.89% and a net margin of 10.77%. Hubbell’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.72 earnings per share. As a group, equities analysts anticipate that Hubbell Incorporated will post 9.3 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 15th. Stockholders of record on Tuesday, May 31st were issued a dividend of $1.05 per share. The ex-dividend date of this dividend was Friday, May 27th. This represents a $4.20 annualized dividend and a dividend yield of 2.45%. Hubbell’s dividend payout ratio (DPR) is presently 45.80%.

In related news, Director Carlos M. Cardoso sold 749 shares of the business’s stock in a transaction on Monday, May 16th. The stock was sold at an average price of $193.73, for a total transaction of $145,103.77. Following the sale, the director now owns 1,744 shares in the company, valued at approximately $337,865.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.82% of the stock is currently owned by corporate insiders.

Hedge funds have recently added to or reduced their stakes in the company. Bank of America Corp DE increased its holdings in Hubbell by 15.8% in the first quarter. Bank of America Corp DE now owns 200,971 shares of the industrial products company’s stock valued at $36,931,000 after purchasing an additional 27,354 shares during the period. Verition Fund Management LLC increased its stake in shares of Hubbell by 129.7% in the first quarter. Verition Fund Management LLC now owns 34,885 shares of the industrial products company’s stock valued at $6,411,000 after buying an additional 19,697 shares during the period. Walleye Capital LLC raised its position in shares of Hubbell by 131.0% during the first quarter. Walleye Capital LLC now owns 132,147 shares of the industrial products company’s stock worth $24,285,000 after acquiring an additional 74,931 shares during the last quarter. Sawtooth Solutions LLC acquired a new position in shares of Hubbell in the first quarter worth approximately $234,000. Finally, BNP Paribas Arbitrage SA boosted its holdings in Hubbell by 47.2% in the first quarter. BNP Paribas Arbitrage SA now owns 14,753 shares of the industrial products company’s stock valued at $2,711,000 after acquiring an additional 4,731 shares during the last quarter. 86.37% of the stock is owned by hedge funds and other institutional investors.

Hubbell Company Profile (NYSE:HUBB)

Hubbell Incorporated, together with its subsidiaries, designs, manufactures, and sells electrical and electronic products in the United States and internationally. It operates through two segments, Electrical Solution and Utility Solution. 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 for the natural gas distribution market.

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