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

Sanford C. Bernstein started coverage on shares of Hubbell (NYSE:HUBB) in a research report report published on Tuesday morning, MarketBeat Ratings reports. The firm issued an outperform rating and a $535.00 target price on the industrial products company’s stock.

Other research analysts have also recently issued research reports about the stock. Deutsche Bank Aktiengesellschaft upgraded shares of Hubbell from a “hold” rating to a “buy” rating and boosted their price objective for the company from $431.00 to $441.00 in a research report on Friday, September 6th. Morgan Stanley increased their price objective on shares of Hubbell from $407.00 to $445.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Mizuho raised 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. JPMorgan Chase & Co. cut Hubbell from an “overweight” rating to a “neutral” rating and upped their target price for the company from $385.00 to $454.00 in a research note on Thursday, October 10th. Finally, Stephens reiterated an “overweight” rating and issued a $450.00 price target on shares of Hubbell in a report on Friday, August 2nd. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $445.56.

Hubbell Stock Up 3.5 %

Shares of NYSE:HUBB opened at $439.89 on Tuesday. The company has a 50-day moving average price of $423.54 and a 200 day moving average price of $396.41. The company has a current ratio of 1.66, a quick ratio of 1.05 and a debt-to-equity ratio of 0.51. Hubbell has a 12 month low of $274.42 and a 12 month high of $461.77. The company has a market cap of $23.61 billion, a price-to-earnings ratio of 31.69, a PEG ratio of 1.58 and a beta of 0.90.

Hubbell (NYSE:HUBB) last posted its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $4.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.47 by $0.02. The business had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.48 billion. Hubbell had a return on equity of 28.81% and a net margin of 13.33%. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period last year, the company earned $3.95 EPS. As a group, equities research analysts predict that Hubbell will post 16.47 earnings per share for the current year.

Hubbell Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be issued a dividend of $1.32 per share. This is an increase 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 is Friday, November 29th. Hubbell’s dividend payout ratio (DPR) is presently 38.04%.

Insider Buying and Selling at Hubbell

In other news, CEO Gerben Bakker sold 15,677 shares of the company’s stock in a transaction that occurred 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 owns 66,415 shares of the company’s stock, 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 is accessible through this link. Insiders own 0.78% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. Oppenheimer & Co. Inc. bought a new stake in Hubbell during the third quarter valued at about $255,000. Oppenheimer Asset Management Inc. lifted its position in shares of Hubbell by 37.0% during the third quarter. Oppenheimer Asset Management Inc. now owns 1,321 shares of the industrial products company’s stock valued at $566,000 after buying an additional 357 shares during the last quarter. Bancreek Capital Management LP bought a new stake in shares of Hubbell in the 3rd quarter valued at about $7,712,000. Nations Financial Group Inc. IA ADV grew its position in shares of Hubbell by 3.3% in the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 5,484 shares of the industrial products company’s stock worth $2,349,000 after buying an additional 176 shares during the last quarter. Finally, Ashton Thomas Securities LLC bought a new position in shares of Hubbell during the 3rd quarter worth approximately $41,000. 88.16% of the stock is owned by institutional investors.

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.