Hubbell (NYSE:HUBB) Sets New 52-Week High – Still a Buy?

Hubbell Incorporated (NYSE:HUBB) shares reached a new 52-week high during trading on Wednesday . The stock traded as high as $475.34 and last traded at $463.75, with a volume of 124588 shares traded. The stock had previously closed at $439.64.

Analyst Ratings Changes

Several research firms have recently weighed in on HUBB. Morgan Stanley increased their price objective on Hubbell from $407.00 to $445.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. downgraded Hubbell from an “overweight” rating to a “neutral” rating and increased their price target for the stock from $385.00 to $454.00 in a report on Thursday, October 10th. Sanford C. Bernstein began coverage on shares of Hubbell in a report on Tuesday. They issued an “outperform” rating and a $535.00 target price on the stock. Deutsche Bank Aktiengesellschaft raised shares of Hubbell from a “hold” rating to a “buy” rating and increased their price target for the stock from $431.00 to $441.00 in a report on Friday, September 6th. Finally, Wells Fargo & Company lifted their price objective on Hubbell from $445.00 to $455.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $445.56.

Hubbell Stock Up 0.2 %

The stock has a market cap of $25.12 billion, a price-to-earnings ratio of 33.71, a P/E/G ratio of 1.58 and a beta of 0.90. The company has a current ratio of 1.66, a quick ratio of 1.05 and a debt-to-equity ratio of 0.51. The firm’s 50 day moving average is $427.99 and its two-hundred day moving average is $397.96.

Hubbell (NYSE:HUBB) last announced 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 for the quarter, compared to the consensus estimate of $1.48 billion. Hubbell had a net margin of 13.33% and a return on equity of 28.81%. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.95 earnings per share. On average, sell-side analysts predict that Hubbell Incorporated will post 16.47 EPS for the current year.

Hubbell Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be given a $1.32 dividend. The ex-dividend date is Friday, November 29th. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.13%. This is an increase from Hubbell’s previous quarterly dividend of $1.22. Hubbell’s payout ratio is currently 35.16%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Nvwm LLC purchased a new stake in Hubbell in the first quarter valued at approximately $25,000. Prospera Private Wealth LLC acquired a new position in shares of Hubbell in the 3rd quarter valued at $33,000. Ashton Thomas Securities LLC purchased a new stake in shares of Hubbell during the 3rd quarter valued at $41,000. Quarry LP purchased a new stake in shares of Hubbell during the 2nd quarter valued at $49,000. Finally, Northwest Investment Counselors LLC acquired a new stake in shares of Hubbell during the 3rd quarter worth $58,000. Institutional investors and hedge funds own 88.16% of the company’s stock.

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.