Hubbell Incorporated (NYSE:HUBB - Get Free Report)'s share price gapped down prior to trading on Thursday . The stock had previously closed at $449.41, but opened at $436.50. Hubbell shares last traded at $439.41, with a volume of 60,349 shares.
Wall Street Analysts Forecast Growth
A number of research analysts have recently issued reports on the company. Wells Fargo & Company upped their price target on Hubbell from $400.00 to $445.00 and gave the company an "equal weight" rating in a report on Monday. Stephens reaffirmed an "overweight" rating and set a $450.00 price target on shares of Hubbell in a report on Friday, August 2nd. Barclays lifted their price target on shares of Hubbell from $368.00 to $400.00 and gave the stock an "equal weight" rating in a research note on Wednesday, October 2nd. Deutsche Bank Aktiengesellschaft upgraded shares of Hubbell from a "hold" rating to a "buy" rating and increased their price objective for the company from $431.00 to $441.00 in a research report on Friday, September 6th. Finally, Morgan Stanley assumed coverage on shares of Hubbell in a research report on Friday, September 6th. They issued an "equal weight" rating and a $407.00 target price for the company. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $423.13.
Get Our Latest Stock Report on Hubbell
Hubbell Stock Down 1.3 %
The company's 50-day simple moving average is $396.74 and its two-hundred day simple moving average is $391.57. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.81 and a quick ratio of 1.13. The firm has a market capitalization of $23.81 billion, a P/E ratio of 33.51, a P/E/G ratio of 1.56 and a beta of 0.90.
Hubbell (NYSE:HUBB - Get Free Report) last released its earnings results on Tuesday, July 30th. The industrial products company reported $4.37 earnings per share for the quarter, beating the consensus estimate of $4.24 by $0.13. The company had revenue of $1.45 billion for 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 quarterly revenue was up 6.3% compared to the same quarter last year. During the same period in the previous year, the business earned $4.07 earnings per share. 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. Investors of record on Friday, August 30th were issued a $1.22 dividend. This represents a $4.88 annualized dividend and a yield of 1.10%. The ex-dividend date of this dividend was Friday, August 30th. Hubbell's dividend payout ratio is 36.39%.
Insiders Place Their Bets
In other news, CEO Gerben Bakker sold 15,677 shares of the 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 $24,861,791.10. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CEO Gerben Bakker sold 15,677 shares of the business's stock in a transaction dated 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 in the company, valued at $24,861,791.10. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Carlos M. Cardoso sold 450 shares of the stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $364.54, for a total value of $164,043.00. Following the sale, the director now owns 1,670 shares of the company's stock, valued at $608,781.80. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.66% of the stock is owned by company insiders.
Institutional Investors Weigh In On Hubbell
Institutional investors and hedge funds have recently modified their holdings of the stock. Nordea Investment Management AB grew its stake in Hubbell by 4.1% during the first quarter. Nordea Investment Management AB now owns 160,085 shares of the industrial products company's stock valued at $66,571,000 after acquiring an additional 6,275 shares in the last quarter. IFG Advisory LLC purchased a new position in shares of Hubbell during the second quarter valued at about $475,000. Point72 Asset Management L.P. increased its holdings in shares of Hubbell by 4,414.0% in the fourth quarter. Point72 Asset Management L.P. now owns 242,855 shares of the industrial products company's stock worth $79,882,000 after purchasing an additional 237,475 shares during the last quarter. Vaughan Nelson Investment Management L.P. increased its stake in Hubbell by 81.0% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 54,365 shares of the industrial products company's stock worth $22,565,000 after acquiring an additional 24,321 shares during the last quarter. Finally, New Mexico Educational Retirement Board raised its holdings in shares of Hubbell by 304.6% during the 1st quarter. New Mexico Educational Retirement Board now owns 11,287 shares of the industrial products company's stock worth $4,685,000 after acquiring an additional 8,497 shares in the last quarter. Institutional investors own 88.16% of the company's stock.
About Hubbell
(
Get Free Report)
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.
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