Hubbell (NYSE:HUBB) Reaches New 12-Month High at $430.91

Hubbell Incorporated (NYSE:HUBB - Get Free Report)'s share price reached a new 52-week high during trading on Monday . The company traded as high as $430.91 and last traded at $430.65, with a volume of 6687 shares. The stock had previously closed at $426.01.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on HUBB shares. Stephens reaffirmed an "overweight" rating and set a $450.00 price target on shares of Hubbell in a report on Friday, August 2nd. Deutsche Bank Aktiengesellschaft upgraded shares of Hubbell from a "hold" rating to a "buy" rating and upped their target price for the company from $431.00 to $441.00 in a research note on Friday, September 6th. Wells Fargo & Company raised their price target on shares of Hubbell from $397.00 to $400.00 and gave the company an "equal weight" rating in a report on Wednesday, July 31st. Barclays decreased their price objective on shares of Hubbell from $384.00 to $368.00 and set an "equal weight" rating for the company in a report on Wednesday, July 31st. Finally, JPMorgan Chase & Co. raised their target price on shares of Hubbell from $383.00 to $385.00 and gave the stock an "overweight" rating in a report on Wednesday, July 31st. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $404.88.

Hubbell Stock Up 0.2 %

The company's 50-day simple moving average is $381.79 and its two-hundred day simple moving average is $388.71. The firm has a market capitalization of $22.91 billion, a P/E ratio of 31.77, a P/E/G ratio of 1.44 and a beta of 0.90. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.81 and a quick ratio of 1.13.

Hubbell (NYSE:HUBB - Get Free Report) last announced its earnings results on Tuesday, July 30th. The industrial products company reported $4.37 EPS for the quarter, topping analysts' consensus estimates of $4.24 by $0.13. Hubbell had a return on equity of 28.98% and a net margin of 13.14%. The company had revenue of $1.45 billion for the quarter, compared to analysts' expectations of $1.48 billion. During the same period last year, the firm earned $4.07 EPS. Hubbell's revenue for the quarter was up 6.3% compared to the same quarter last year. As a group, research analysts expect that Hubbell Incorporated will post 16.45 earnings per share for the current year.

Hubbell Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 30th were paid a dividend of $1.22 per share. This represents a $4.88 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date was Friday, August 30th. Hubbell's payout ratio is 36.39%.

Insider Buying and Selling at Hubbell

In other news, Director Carlos M. Cardoso sold 450 shares of the firm's stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $364.54, for a total transaction of $164,043.00. Following the sale, the director now directly owns 1,670 shares in the company, valued at approximately $608,781.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Gerben Bakker sold 15,677 shares of the business's stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $374.34, for a total value of $5,868,528.18. Following the transaction, the chief executive officer now directly owns 66,415 shares of the company's stock, valued at approximately $24,861,791.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Carlos M. Cardoso sold 450 shares of the stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $364.54, for a total transaction of $164,043.00. Following the sale, the director now directly owns 1,670 shares of the company's stock, valued at $608,781.80. The disclosure for this sale can be found here. Insiders own 0.66% of the company's stock.

Hedge Funds Weigh In On Hubbell

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Nvwm LLC purchased a new stake in Hubbell in the 1st quarter worth $25,000. EverSource Wealth Advisors LLC lifted its position in shares of Hubbell by 1,850.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 78 shares of the industrial products company's stock worth $26,000 after buying an additional 74 shares in the last quarter. Principal Securities Inc. bought a new position in Hubbell during the fourth quarter valued at approximately $40,000. Quarry LP purchased a new position in Hubbell during the 2nd quarter valued at approximately $49,000. Finally, Riverview Trust Co bought a new stake in Hubbell in the 1st quarter worth approximately $52,000. Institutional investors 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.