Hubbell (NYSE:HUBB) Research Coverage Started at Morgan Stanley

Morgan Stanley started coverage on shares of Hubbell (NYSE:HUBB) in a report published on Friday morning, Marketbeat.com reports. The brokerage issued an equal weight rating and a $407.00 price objective on the industrial products company’s stock.

HUBB has been the topic of several other research reports. Stephens reiterated an overweight rating and set a $450.00 price target on shares of Hubbell in a report on Friday, August 2nd. Wells Fargo & Company increased their target price on Hubbell from $397.00 to $400.00 and gave the company an equal weight rating in a report on Wednesday, July 31st. Barclays dropped their price objective on Hubbell from $384.00 to $368.00 and set an equal weight rating on the stock in a report on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft raised Hubbell from a hold rating to a buy rating and upped their price target for the company from $431.00 to $441.00 in a report on Friday. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Hubbell from $383.00 to $385.00 and gave the stock an overweight rating in a research report on Wednesday, July 31st. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Hubbell presently has an average rating of Moderate Buy and an average price target of $404.88.

Hubbell Trading Up 1.9 %

HUBB opened at $378.12 on Friday. Hubbell has a 52 week low of $248.37 and a 52 week high of $429.61. The company has a quick ratio of 1.13, a current ratio of 1.81 and a debt-to-equity ratio of 0.62. The business has a fifty day simple moving average of $375.57 and a 200-day simple moving average of $386.79. The firm has a market cap of $20.30 billion, a P/E ratio of 28.20, a P/E/G ratio of 1.40 and a beta of 0.90.

Hubbell (NYSE:HUBB) last posted its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $4.37 EPS for the quarter, topping the consensus estimate of $4.24 by $0.13. The business had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.48 billion. Hubbell had a net margin of 13.14% and a return on equity of 28.98%. The company’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.07 earnings per share. On average, equities analysts expect that Hubbell will post 16.41 earnings per share for the current year.

Hubbell Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, August 30th will be paid a dividend of $1.22 per share. The ex-dividend date is Friday, August 30th. This represents a $4.88 annualized dividend and a dividend yield of 1.29%. Hubbell’s dividend payout ratio (DPR) is 36.39%.

Insider Activity at Hubbell

In other Hubbell news, Director Carlos M. Cardoso sold 450 shares of Hubbell stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $364.54, for a total value of $164,043.00. Following the transaction, the director now directly owns 1,670 shares in the company, valued at approximately $608,781.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Hubbell news, Director Carlos M. Cardoso sold 450 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $364.54, for a total transaction of $164,043.00. Following the transaction, the director now owns 1,670 shares in the company, valued at approximately $608,781.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Gerben Bakker sold 15,677 shares of the firm’s stock in a transaction 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 directly owns 66,415 shares of the company’s stock, valued at approximately $24,861,791.10. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Hubbell

Several hedge funds have recently added to or reduced their stakes in HUBB. Benjamin F. Edwards & Company Inc. raised its position in shares of Hubbell by 32.6% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 886 shares of the industrial products company’s stock valued at $291,000 after buying an additional 218 shares during the last quarter. National Bank of Canada FI increased its stake in Hubbell by 603.2% in the fourth quarter. National Bank of Canada FI now owns 14,353 shares of the industrial products company’s stock valued at $4,678,000 after purchasing an additional 12,312 shares during the last quarter. Metis Global Partners LLC lifted its position in Hubbell by 100.8% during the fourth quarter. Metis Global Partners LLC now owns 1,735 shares of the industrial products company’s stock worth $571,000 after buying an additional 871 shares during the period. Private Advisor Group LLC boosted its stake in Hubbell by 14.2% in the 4th quarter. Private Advisor Group LLC now owns 2,621 shares of the industrial products company’s stock worth $862,000 after buying an additional 326 shares during the last quarter. Finally, Apollon Wealth Management LLC purchased a new stake in Hubbell in the 4th quarter valued at about $221,000. 88.16% of the stock is currently owned by hedge funds and other institutional investors.

About Hubbell

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.