Hubbell (NYSE:HUBB) Hits New 1-Year High - Still a Buy?

Hubbell Incorporated (NYSE:HUBB - Get Free Report) shares reached a new 52-week high during trading on Monday . The stock traded as high as $433.95 and last traded at $432.98, with a volume of 59167 shares trading hands. The stock had previously closed at $429.72.

Analyst Ratings Changes

Several analysts have recently commented on HUBB shares. Stephens reissued an "overweight" rating and issued a $450.00 price target on shares of Hubbell in a report on Friday, August 2nd. Wells Fargo & Company raised their price target on Hubbell from $400.00 to $445.00 and gave the company an "equal weight" rating in a report on Monday. JPMorgan Chase & Co. raised their price target on Hubbell from $383.00 to $385.00 and gave the company an "overweight" rating in a report on Wednesday, July 31st. Barclays raised their price target on Hubbell from $368.00 to $400.00 and gave the company an "equal weight" rating in a report on Wednesday, October 2nd. Finally, Morgan Stanley started coverage on Hubbell in a report on Friday, September 6th. They issued an "equal weight" rating and a $407.00 price target for the company. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $414.50.

Hubbell Stock Up 2.0 %

The stock has a market capitalization of $23.54 billion, a PE ratio of 32.61, a P/E/G ratio of 1.56 and a beta of 0.90. The firm has a 50 day moving average of $393.01 and a two-hundred day moving average of $390.83. The company has a current ratio of 1.81, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62.

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

Hubbell Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 30th were given a dividend of $1.22 per share. This represents a $4.88 annualized dividend and a yield of 1.11%. The ex-dividend date of this dividend was Friday, August 30th. Hubbell's payout ratio is 36.39%.

Insiders Place Their Bets

In other Hubbell news, CEO Gerben Bakker sold 15,677 shares of the firm's stock in a transaction on Friday, August 9th. The stock was sold at an average price of $374.34, for a total transaction of $5,868,528.18. Following the completion of the transaction, the chief executive officer now owns 66,415 shares of the company's stock, valued at approximately $24,861,791.10. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, Director Carlos M. Cardoso sold 450 shares of Hubbell stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $364.54, for a total value of $164,043.00. Following the completion of the sale, the director now owns 1,670 shares of the company's stock, valued at $608,781.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Gerben Bakker sold 15,677 shares of Hubbell stock in a transaction on Friday, August 9th. The shares were sold at an average price of $374.34, for a total value of $5,868,528.18. Following the completion of the sale, the chief executive officer now directly owns 66,415 shares of the company's stock, valued at approximately $24,861,791.10. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Hubbell

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in Hubbell by 15.9% in the fourth quarter. Vanguard Group Inc. now owns 6,696,582 shares of the industrial products company's stock valued at $2,202,707,000 after acquiring an additional 918,808 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Hubbell by 16.7% in the second quarter. Bank of New York Mellon Corp now owns 2,035,596 shares of the industrial products company's stock valued at $743,970,000 after acquiring an additional 291,850 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Hubbell by 16.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,980,456 shares of the industrial products company's stock valued at $821,989,000 after acquiring an additional 286,134 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in Hubbell by 3.6% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,335,218 shares of the industrial products company's stock valued at $487,995,000 after acquiring an additional 46,813 shares during the last quarter. Finally, FIL Ltd boosted its holdings in Hubbell by 0.6% in the fourth quarter. FIL Ltd now owns 1,115,510 shares of the industrial products company's stock valued at $366,925,000 after acquiring an additional 6,526 shares during the last quarter. Hedge funds and other 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.