Hubbell Incorporated (NYSE:HUBB) has been given an average rating of “Buy” by the nine analysts that are currently covering the company, MarketBeat.com reports. Four research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $132.17.
Several research analysts recently commented on HUBB shares. Zacks Investment Research raised shares of Hubbell from a “hold” rating to a “buy” rating and set a $129.00 price target on the stock in a research note on Wednesday, February 13th. JMP Securities set a $146.00 target price on shares of Hubbell and gave the company a “buy” rating in a research report on Tuesday. Morgan Stanley downgraded shares of Hubbell from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $131.00 to $109.00 in a research report on Tuesday, December 18th. ValuEngine raised shares of Hubbell from a “sell” rating to a “hold” rating in a research report on Wednesday, December 12th. Finally, CIBC reissued a “market perform” rating on shares of Hubbell in a research report on Tuesday, January 8th.
HUBB stock traded up $1.28 during trading on Friday, hitting $122.95. The company had a trading volume of 10,108 shares, compared to its average volume of 376,889. The company has a market capitalization of $6.56 billion, a PE ratio of 16.85, a P/E/G ratio of 1.49 and a beta of 1.44. Hubbell has a 52-week low of $91.88 and a 52-week high of $137.67. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.96 and a quick ratio of 1.18.
The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 28th were given a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 2.73%. The ex-dividend date was Wednesday, February 27th. Hubbell’s dividend payout ratio (DPR) is 46.09%.
In other news, VP An-Ping Hsieh sold 6,315 shares of Hubbell stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $122.32, for a total value of $772,450.80. Following the transaction, the vice president now owns 24,376 shares of the company’s stock, valued at approximately $2,981,672.32. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 2.20% of the company’s stock.
Several institutional investors have recently modified their holdings of HUBB. First Hawaiian Bank increased its holdings in shares of Hubbell by 108.3% during the 1st quarter. First Hawaiian Bank now owns 5,020 shares of the industrial products company’s stock valued at $592,000 after purchasing an additional 2,610 shares in the last quarter. American Century Companies Inc. increased its holdings in shares of Hubbell by 75.1% during the 4th quarter. American Century Companies Inc. now owns 4,463,727 shares of the industrial products company’s stock valued at $443,427,000 after purchasing an additional 1,914,706 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Hubbell by 6.7% during the 4th quarter. Geode Capital Management LLC now owns 525,302 shares of the industrial products company’s stock valued at $52,182,000 after purchasing an additional 33,098 shares in the last quarter. Norges Bank purchased a new position in shares of Hubbell during the 4th quarter valued at approximately $34,205,000. Finally, Foster Victor Wealth Advisors LLC purchased a new position in shares of Hubbell during the 4th quarter valued at approximately $296,000. 86.56% of the stock is currently owned by hedge funds and other institutional investors.
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.
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