Hubbell (HUBB) Trading 6.7% Higher

Hubbell Incorporated (NYSE:HUBB) traded up 6.7% during trading on Thursday . The company traded as high as $109.07 and last traded at $108.53. 987,350 shares changed hands during mid-day trading, an increase of 99% from the average session volume of 496,535 shares. The stock had previously closed at $101.70.

A number of equities research analysts have recently commented on the stock. Morgan Stanley set a $131.00 target price on shares of Hubbell and gave the company a “buy” rating in a report on Wednesday, October 24th. Wolfe Research raised shares of Hubbell to a “buy” rating and set a $131.00 target price for the company in a report on Wednesday, October 24th. They noted that the move was a valuation call. Zacks Investment Research cut shares of Hubbell from a “buy” rating to a “hold” rating in a report on Wednesday, October 24th. Finally, ValuEngine cut shares of Hubbell from a “hold” rating to a “sell” rating in a report on Tuesday, October 23rd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $137.83.

The company has a current ratio of 1.88, a quick ratio of 1.16 and a debt-to-equity ratio of 1.01. The firm has a market cap of $5.91 billion, a P/E ratio of 15.16, a PEG ratio of 1.48 and a beta of 1.34.

Hubbell (NYSE:HUBB) last announced its earnings results on Tuesday, October 23rd. The industrial products company reported $2.22 EPS for the quarter, beating analysts’ consensus estimates of $2.11 by $0.11. Hubbell had a net margin of 6.88% and a return on equity of 23.08%. The business had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.17 billion. During the same period in the prior year, the company earned $1.65 earnings per share. The business’s revenue was up 24.1% compared to the same quarter last year. Analysts predict that Hubbell Incorporated will post 7.27 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 14th. Stockholders of record on Friday, November 30th will be issued a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a dividend yield of 3.11%. This is a boost from Hubbell’s previous quarterly dividend of $0.77. The ex-dividend date of this dividend is Thursday, November 29th. Hubbell’s dividend payout ratio is presently 51.94%.

In other news, Director John F. Malloy purchased 994 shares of the business’s stock in a transaction that occurred on Friday, October 26th. The stock was purchased at an average cost of $100.82 per share, with a total value of $100,215.08. Following the completion of the acquisition, the director now directly owns 13,020 shares of the company’s stock, valued at approximately $1,312,676.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Neal J. Keating purchased 1,000 shares of the business’s stock in a transaction that occurred on Monday, October 29th. The shares were purchased at an average cost of $101.55 per share, with a total value of $101,550.00. Following the completion of the acquisition, the director now directly owns 6,971 shares of the company’s stock, valued at $707,905.05. The disclosure for this purchase can be found here. Corporate insiders own 0.69% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Valeo Financial Advisors LLC raised its holdings in Hubbell by 156.4% during the third quarter. Valeo Financial Advisors LLC now owns 1,164 shares of the industrial products company’s stock worth $118,000 after purchasing an additional 710 shares in the last quarter. Cerebellum GP LLC purchased a new position in Hubbell during the third quarter worth about $183,000. Palo Capital Inc. purchased a new position in Hubbell during the third quarter worth about $184,000. Oppenheimer & Co. Inc. purchased a new position in Hubbell during the third quarter worth about $233,000. Finally, Vigilant Capital Management LLC purchased a new position in Hubbell during the second quarter worth about $188,000. 86.54% of the stock is owned by hedge funds and other institutional investors.

Hubbell Company Profile (NYSE:HUBB)

Hubbell Incorporated designs, manufactures, and sells electrical and electronic products in the United States and internationally. It operates through two segments, Electrical and Power. The Electrical segment offers standard and special application wiring device products, rough-in electrical products, connector and grounding products, lighting fixtures and controls, 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 for the natural gas distribution market.

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