Hubbell (NYSE:HUBB) Coverage Initiated by Analysts at Sanford C. Bernstein

Sanford C. Bernstein began coverage on shares of Hubbell (NYSE:HUBB - Free Report) in a research note issued to investors on Tuesday, Marketbeat Ratings reports. The brokerage issued an outperform rating and a $535.00 price target on the industrial products company's stock.

Other equities research analysts also recently issued reports about the company. Stephens reissued an "overweight" rating and set a $450.00 price target on shares of Hubbell in a research report on Friday, August 2nd. Deutsche Bank Aktiengesellschaft raised shares of Hubbell from a "hold" rating to a "buy" rating and increased their target price for the stock from $431.00 to $441.00 in a report on Friday, September 6th. JPMorgan Chase & Co. lowered shares of Hubbell from an "overweight" rating to a "neutral" rating and lifted their price target for the company from $385.00 to $454.00 in a report on Thursday, October 10th. Mizuho increased their price objective on shares of Hubbell from $450.00 to $490.00 and gave the stock an "outperform" rating in a research note on Thursday, October 17th. Finally, Barclays lifted their target price on Hubbell from $400.00 to $402.00 and gave the company an "equal weight" rating in a research note on Wednesday, October 30th. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $445.56.

Hubbell Stock Up 3.5 %

HUBB traded up $14.84 during trading on Tuesday, hitting $439.76. The company had a trading volume of 291,627 shares, compared to its average volume of 441,721. The company has a market cap of $23.61 billion, a PE ratio of 31.37, a P/E/G ratio of 1.58 and a beta of 0.90. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.66 and a quick ratio of 1.05. Hubbell has a 1-year low of $274.42 and a 1-year high of $461.77. The business has a 50-day moving average of $422.50 and a 200-day moving average of $396.04.

Hubbell (NYSE:HUBB - Get Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $4.49 EPS for the quarter, topping the consensus estimate of $4.47 by $0.02. The business had revenue of $1.44 billion for the quarter, compared to analysts' expectations of $1.48 billion. Hubbell had a net margin of 13.33% and a return on equity of 28.81%. The company's quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter last year, the company posted $3.95 earnings per share. As a group, analysts forecast that Hubbell will post 16.47 earnings per share for the current year.

Hubbell Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be given a $1.32 dividend. This is a boost from Hubbell's previous quarterly dividend of $1.22. This represents a $5.28 annualized dividend and a yield of 1.20%. The ex-dividend date of this dividend is Friday, November 29th. Hubbell's dividend payout ratio (DPR) is currently 38.04%.

Insiders Place Their Bets

In other 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 transaction, the chief executive officer now directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.78% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Hubbell

A number of institutional investors have recently added to or reduced their stakes in HUBB. OLD National Bancorp IN boosted its position in shares of Hubbell by 3.8% during the 3rd quarter. OLD National Bancorp IN now owns 596 shares of the industrial products company's stock valued at $255,000 after purchasing an additional 22 shares in the last quarter. CWM LLC boosted its holdings in Hubbell by 2.2% during the second quarter. CWM LLC now owns 1,319 shares of the industrial products company's stock worth $482,000 after buying an additional 28 shares in the last quarter. Meeder Advisory Services Inc. grew its position in Hubbell by 3.8% in the first quarter. Meeder Advisory Services Inc. now owns 816 shares of the industrial products company's stock worth $339,000 after buying an additional 30 shares during the last quarter. Detalus Advisors LLC increased its holdings in shares of Hubbell by 3.0% in the second quarter. Detalus Advisors LLC now owns 1,030 shares of the industrial products company's stock valued at $377,000 after buying an additional 30 shares in the last quarter. Finally, Ballentine Partners LLC lifted its position in shares of Hubbell by 3.2% during the 3rd quarter. Ballentine Partners LLC now owns 956 shares of the industrial products company's stock valued at $410,000 after acquiring an additional 30 shares during the last quarter. 88.16% of the stock is currently owned by institutional investors and hedge funds.

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.