Shares of Hubbell Incorporated (NYSE:HUBB) have been given a consensus recommendation of “Buy” by the eight research firms that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $136.00.
HUBB has been the subject of several recent analyst reports. Zacks Investment Research upgraded Hubbell from a “hold” rating to a “buy” rating and set a $147.00 target price for the company in a research note on Thursday, October 4th. Morgan Stanley set a $131.00 target price on Hubbell and gave the stock a “buy” rating in a research note on Wednesday, October 24th. Wolfe Research upgraded Hubbell to a “buy” rating and set a $131.00 target price for the company in a research note on Wednesday, October 24th. They noted that the move was a valuation call. Finally, ValuEngine upgraded Hubbell from a “sell” rating to a “hold” rating in a research note on Tuesday, August 14th.
HUBB stock traded up $3.48 during trading on Friday, hitting $110.16. 494,792 shares of the company’s stock were exchanged, compared to its average volume of 489,975. The stock has a market cap of $5.87 billion, a price-to-earnings ratio of 18.58, a PEG ratio of 1.48 and a beta of 1.34. Hubbell has a 52-week low of $97.02 and a 52-week high of $149.03. The company has a quick ratio of 1.16, a current ratio of 1.88 and a debt-to-equity ratio of 1.01.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 14th. Shareholders of record on Friday, November 30th will be paid a $0.84 dividend. The ex-dividend date is Thursday, November 29th. This represents a $3.36 dividend on an annualized basis and a yield of 3.05%. This is a boost from Hubbell’s previous quarterly dividend of $0.77. Hubbell’s payout ratio is currently 51.94%.
In other news, Director John F. Malloy acquired 994 shares of Hubbell stock in a transaction on Friday, October 26th. The stock was bought at an average price of $100.82 per share, for a total transaction of $100,215.08. Following the completion of the purchase, the director now owns 13,020 shares in the company, valued at $1,312,676.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Neal J. Keating acquired 1,000 shares of Hubbell stock in a transaction on Monday, October 29th. The stock was purchased at an average price of $101.55 per share, with a total value of $101,550.00. Following the purchase, the director now owns 6,971 shares of the company’s stock, valued at approximately $707,905.05. The disclosure for this purchase can be found here. 0.69% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Valeo Financial Advisors LLC increased its holdings in shares of Hubbell by 156.4% in the third quarter. Valeo Financial Advisors LLC now owns 1,164 shares of the industrial products company’s stock valued at $118,000 after purchasing an additional 710 shares during the period. Penserra Capital Management LLC acquired a new position in shares of Hubbell in the third quarter valued at approximately $149,000. Cerebellum GP LLC acquired a new position in shares of Hubbell in the third quarter valued at approximately $183,000. Palo Capital Inc. acquired a new position in shares of Hubbell in the third quarter valued at approximately $184,000. Finally, Cornerstone Wealth Management LLC acquired a new position in shares of Hubbell in the second quarter valued at approximately $210,000. Institutional investors own 87.51% of the company’s stock.
Hubbell Company Profile
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.
Further Reading: Trading Strategy
Receive News & Ratings for Hubbell Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hubbell and related companies with MarketBeat.com's FREE daily email newsletter.