Hubbell (NYSE:HUBB) Sees Unusually-High Trading Volume

Hubbell Incorporated (NYSE:HUBB) saw strong trading volume on Tuesday . 710,100 shares traded hands during trading, an increase of 73% from the previous session’s volume of 409,551 shares.The stock last traded at $377.27 and had previously closed at $407.19.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Wells Fargo & Company lifted their price objective on shares of Hubbell from $351.00 to $360.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 31st. Mizuho lifted their target price on Hubbell from $370.00 to $450.00 and gave the stock a “buy” rating in a report on Wednesday, March 20th. StockNews.com lowered Hubbell from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Hubbell in a research note on Monday, March 11th. They issued a “hold” rating and a $427.00 target price on the stock. Finally, Barclays lifted their price target on shares of Hubbell from $340.00 to $400.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 2nd. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $383.57.

Hubbell Trading Down 9.0 %

The company has a quick ratio of 1.01, a current ratio of 1.64 and a debt-to-equity ratio of 0.70. The stock’s 50 day moving average is $396.93 and its two-hundred day moving average is $343.79. The company has a market capitalization of $19.87 billion, a PE ratio of 26.50, a price-to-earnings-growth ratio of 2.48 and a beta of 0.94.

Hubbell (NYSE:HUBB) last announced its quarterly earnings data on Tuesday, January 30th. The industrial products company reported $3.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.58 by $0.11. The firm had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.32 billion. Hubbell had a return on equity of 30.82% and a net margin of 14.14%. The company’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same period last year, the business posted $2.60 earnings per share. As a group, sell-side analysts predict that Hubbell Incorporated will post 16.43 EPS for the current fiscal year.

Hubbell Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Friday, May 31st will be given a dividend of $1.22 per share. The ex-dividend date of this dividend is Friday, May 31st. This represents a $4.88 dividend on an annualized basis and a yield of 1.32%. Hubbell’s dividend payout ratio is presently 34.73%.

Insider Buying and Selling at Hubbell

In other news, VP Nero Jonathan M. Del sold 1,098 shares of Hubbell stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $352.74, for a total transaction of $387,308.52. Following the completion of the transaction, the vice president now directly owns 3,646 shares of the company’s stock, valued at approximately $1,286,090.04. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CFO William R. Sperry sold 14,925 shares of the business’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $352.99, for a total transaction of $5,268,375.75. Following the completion of the sale, the chief financial officer now owns 37,848 shares of the company’s stock, valued at $13,359,965.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Nero Jonathan M. Del sold 1,098 shares of Hubbell stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $352.74, for a total value of $387,308.52. Following the completion of the sale, the vice president now directly owns 3,646 shares in the company, valued at $1,286,090.04. The disclosure for this sale can be found here. In the last quarter, insiders sold 34,125 shares of company stock worth $12,065,100. Insiders own 0.78% of the company’s stock.

Institutional Investors Weigh In On Hubbell

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC boosted its holdings in shares of Hubbell by 1,850.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 78 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 74 shares during the last quarter. Lindbrook Capital LLC grew its holdings in Hubbell by 127.5% in the 4th quarter. Lindbrook Capital LLC now owns 91 shares of the industrial products company’s stock valued at $30,000 after buying an additional 51 shares in the last quarter. Baillie Gifford & Co. acquired a new stake in shares of Hubbell in the 4th quarter worth $33,000. Principal Securities Inc. purchased a new position in shares of Hubbell during the 4th quarter worth $40,000. Finally, Riverview Trust Co acquired a new position in shares of Hubbell during the 1st quarter valued at about $52,000. Institutional investors and hedge funds own 88.16% of the company’s stock.

About Hubbell

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.