Hubbell (NYSE:HUBB) Hits New 12-Month High at $231.17

Hubbell Incorporated (NYSE:HUBBGet Rating)’s stock price reached a new 52-week high during trading on Wednesday . The company traded as high as $231.17 and last traded at $231.03, with a volume of 3992 shares traded. The stock had previously closed at $223.90.

Analyst Ratings Changes

A number of equities research analysts have commented on HUBB shares. StockNews.com raised shares of Hubbell from a “buy” rating to a “strong-buy” rating in a research report on Monday. JPMorgan Chase & Co. lifted their target price on shares of Hubbell from $175.00 to $200.00 in a research report on Thursday, July 28th. Morgan Stanley boosted their price objective on shares of Hubbell from $190.00 to $206.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 27th. Finally, Wells Fargo & Company boosted their price objective on shares of Hubbell to $196.00 and gave the company an “outperform” rating in a research report on Wednesday, July 27th.

Hubbell Price Performance

The company has a market cap of $11.92 billion, a P/E ratio of 22.92, a P/E/G ratio of 2.28 and a beta of 1.17. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.31 and a current ratio of 2.03. The firm’s fifty day moving average is $213.24 and its two-hundred day moving average is $196.18.

Hubbell (NYSE:HUBBGet Rating) last issued its earnings results on Tuesday, July 26th. The industrial products company reported $2.81 earnings per share for the quarter, topping the consensus estimate of $2.41 by $0.40. The company had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.20 billion. Hubbell had a net margin of 11.18% and a return on equity of 22.61%. Hubbell’s quarterly revenue was up 19.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.36 EPS. As a group, analysts anticipate that Hubbell Incorporated will post 9.81 earnings per share for the current fiscal year.

Hubbell Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Wednesday, August 31st were issued a $1.05 dividend. This represents a $4.20 annualized dividend and a yield of 1.89%. The ex-dividend date of this dividend was Tuesday, August 30th. Hubbell’s dividend payout ratio is currently 43.34%.

Insiders Place Their Bets

In other Hubbell news, insider Allan Connolly sold 5,259 shares of the business’s stock in a transaction on Friday, August 12th. The shares were sold at an average price of $221.48, for a total value of $1,164,763.32. Following the sale, the insider now owns 6,400 shares in the company, valued at approximately $1,417,472. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.82% of the company’s stock.

Institutional Trading of Hubbell

Several hedge funds have recently made changes to their positions in the business. Salem Investment Counselors Inc. raised its position in shares of Hubbell by 0.5% during the 2nd quarter. Salem Investment Counselors Inc. now owns 9,538 shares of the industrial products company’s stock valued at $1,703,000 after buying an additional 47 shares in the last quarter. Avestar Capital LLC raised its position in shares of Hubbell by 4.1% during the 1st quarter. Avestar Capital LLC now owns 1,372 shares of the industrial products company’s stock valued at $252,000 after buying an additional 54 shares in the last quarter. FDx Advisors Inc. raised its position in shares of Hubbell by 3.2% during the 1st quarter. FDx Advisors Inc. now owns 1,742 shares of the industrial products company’s stock valued at $320,000 after buying an additional 54 shares in the last quarter. State of Alaska Department of Revenue raised its position in shares of Hubbell by 0.7% during the 2nd quarter. State of Alaska Department of Revenue now owns 7,711 shares of the industrial products company’s stock valued at $1,377,000 after buying an additional 55 shares in the last quarter. Finally, Arizona State Retirement System raised its position in shares of Hubbell by 0.5% during the 1st quarter. Arizona State Retirement System now owns 14,708 shares of the industrial products company’s stock valued at $2,703,000 after buying an additional 72 shares in the last quarter. 88.91% of the stock is currently owned by hedge funds and other institutional investors.

Hubbell Company Profile

(Get Rating)

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.

See Also

Receive News & Ratings for Hubbell Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hubbell and related companies with MarketBeat.com's FREE daily email newsletter.