Hubbell Incorporated (NYSE:HUBB)’s share price rose 6.7% on Thursday . The stock traded as high as $109.07 and last traded at $108.53. Approximately 987,350 shares were traded during mid-day trading, an increase of 99% from the average daily volume of 496,535 shares. The stock had previously closed at $101.70.
HUBB has been the subject of several analyst reports. ValuEngine raised shares of Hubbell from a “sell” rating to a “hold” rating in a research note on Thursday, July 26th. Zacks Investment Research raised shares of Hubbell from a “hold” rating to a “buy” rating and set a $147.00 target price for the company in a research note on Thursday, October 4th. Wolfe Research raised shares of Hubbell to a “buy” rating and set a $131.00 target price for the company in a research note on Wednesday, October 24th. They noted that the move was a valuation call. Wells Fargo & Co reissued an “outperform” rating and issued a $140.00 target price (up from $135.00) on shares of Hubbell in a research note on Wednesday, July 25th. Finally, Morgan Stanley set a $131.00 target price on shares of Hubbell and gave the company a “buy” rating in a research note on Wednesday, October 24th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $137.83.
The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.16 and a current ratio of 1.88. The company has a market cap of $5.45 billion, a price-to-earnings ratio of 18.30, a price-to-earnings-growth ratio of 1.37 and a beta of 1.08.
Hubbell (NYSE:HUBB) last released its quarterly earnings data on Tuesday, October 23rd. The industrial products company reported $2.22 EPS for the quarter, topping the Zacks’ consensus estimate of $2.11 by $0.11. Hubbell had a net margin of 6.88% and a return on equity of 23.08%. The firm had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.17 billion. During the same period in the previous year, the business posted $1.65 earnings per share. The company’s revenue for the quarter was up 24.1% compared to the same quarter last year. Equities analysts anticipate that Hubbell Incorporated will post 7.27 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 14th. Shareholders of record on Friday, November 30th will be given a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 3.10%. This is a boost from Hubbell’s previous quarterly dividend of $0.77. The ex-dividend date is Thursday, November 29th. Hubbell’s payout ratio is 51.94%.
In related news, Director John F. Malloy acquired 994 shares of Hubbell stock in a transaction on Friday, October 26th. The stock was purchased at an average cost of $100.82 per share, with a total value of $100,215.08. Following the completion of the transaction, the director now directly owns 13,020 shares in the company, valued at approximately $1,312,676.40. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, Director Neal J. Keating acquired 1,000 shares of Hubbell stock in a transaction on Monday, October 29th. The shares were bought at an average cost of $101.55 per share, with a total value of $101,550.00. Following the completion of the transaction, the director now owns 6,971 shares of the company’s stock, valued at $707,905.05. The disclosure for this purchase can be found here. Insiders own 0.69% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in HUBB. American Century Companies Inc. lifted its holdings in shares of Hubbell by 46.5% during the second quarter. American Century Companies Inc. now owns 2,792,582 shares of the industrial products company’s stock worth $295,288,000 after buying an additional 885,909 shares in the last quarter. FMR LLC lifted its holdings in shares of Hubbell by 25.5% during the second quarter. FMR LLC now owns 1,662,452 shares of the industrial products company’s stock worth $175,788,000 after buying an additional 337,915 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of Hubbell by 7.1% during the second quarter. BlackRock Inc. now owns 4,951,945 shares of the industrial products company’s stock worth $523,619,000 after buying an additional 329,485 shares in the last quarter. Selz Capital LLC acquired a new stake in shares of Hubbell during the second quarter worth $26,224,000. Finally, Deprince Race & Zollo Inc. acquired a new stake in shares of Hubbell during the second quarter worth $19,419,000. 86.54% of the stock is owned by hedge funds and other institutional investors.
About Hubbell (NYSE:HUBB)
Hubbell Incorporated designs, manufactures, and sells electrical and electronic products in the United States and internationally. It operates through two segments, Electrical and Power. The Electrical segment offers standard and special application wiring device products, rough-in electrical products, connector and grounding products, lighting fixtures and controls, 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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