Hubbell (NYSE:HUBB) Sets New 12-Month High - Still a Buy?

Hubbell Incorporated (NYSE:HUBB - Get Free Report) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $459.00 and last traded at $459.00, with a volume of 13573 shares. The stock had previously closed at $456.57.

Wall Street Analyst Weigh In

HUBB has been the subject of a number of research reports. Barclays lifted their price target on shares of Hubbell from $368.00 to $400.00 and gave the company an "equal weight" rating in a research note on Wednesday, October 2nd. Wells Fargo & Company lifted their price target on shares of Hubbell from $400.00 to $445.00 and gave the company an "equal weight" rating in a research report on Monday, October 7th. Morgan Stanley began coverage on shares of Hubbell in a research note on Friday, September 6th. They issued an "equal weight" rating and a $407.00 price objective on the stock. Stephens reissued an "overweight" rating and set a $450.00 price objective on shares of Hubbell in a report on Friday, August 2nd. Finally, JPMorgan Chase & Co. lowered Hubbell from an "overweight" rating to a "neutral" rating and raised their target price for the company from $385.00 to $454.00 in a report on Thursday. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Hubbell currently has a consensus rating of "Moderate Buy" and an average target price of $423.13.

Hubbell Stock Up 0.9 %

The stock has a fifty day moving average price of $399.82 and a 200 day moving average price of $391.93. The stock has a market capitalization of $24.72 billion, a P/E ratio of 34.23, a price-to-earnings-growth ratio of 1.67 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 released its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $4.37 EPS for the quarter, beating analysts' consensus estimates of $4.24 by $0.13. Hubbell had a net margin of 13.14% and a return on equity of 28.98%. The firm had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.48 billion. During the same period in the previous year, the business earned $4.07 EPS. The business's revenue for the quarter was up 6.3% on a year-over-year basis. On average, research analysts forecast that Hubbell Incorporated will post 16.41 earnings per share for the current year.

Hubbell Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were issued a $1.22 dividend. This represents a $4.88 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date was Friday, August 30th. Hubbell's payout ratio is 36.39%.

Insider Transactions at Hubbell

In other news, CEO Gerben Bakker sold 15,677 shares of the stock in a transaction dated 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 transaction, the chief executive officer now directly owns 66,415 shares in the company, valued at approximately $24,861,791.10. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Carlos M. Cardoso sold 450 shares of the stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $364.54, for a total transaction of $164,043.00. Following the completion of the sale, the director now directly owns 1,670 shares in the company, valued at approximately $608,781.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Gerben Bakker sold 15,677 shares of the business's stock in a transaction dated 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 transaction, the chief executive officer now owns 66,415 shares in the company, 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 insiders.

Hedge Funds Weigh In On Hubbell

Hedge funds and other institutional investors have recently made changes to their positions in the business. Nvwm LLC purchased a new stake in Hubbell in the first quarter worth $25,000. Quarry LP purchased a new stake in Hubbell in the second quarter worth about $49,000. Riverview Trust Co bought a new position in shares of Hubbell during the first quarter valued at approximately $52,000. Northwest Investment Counselors LLC bought a new stake in shares of Hubbell in the 1st quarter worth approximately $56,000. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in shares of Hubbell in the 2nd quarter worth approximately $62,000. 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.