Hubbell (NYSE:HUBB) Sets New 12-Month High at $284.27

Hubbell Incorporated (NYSE:HUBB – Get Rating)’s share price hit a new 52-week high on Friday . The company traded as high as $284.27 and last traded at $279.95, with a volume of 67641 shares changing hands. The stock had previously closed at $280.57.

Analyst Ratings Changes

A number of research analysts have recently weighed in on HUBB shares. Wells Fargo & Company cut their price objective on Hubbell from $225.00 to $221.00 and set an “equal weight” rating for the company in a research report on Thursday, April 13th. Mizuho lifted their price target on Hubbell from $252.00 to $300.00 in a research report on Wednesday, April 26th. Morgan Stanley lifted their price target on Hubbell from $226.00 to $238.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 1st. StockNews.com upgraded Hubbell from a “buy” rating to a “strong-buy” rating in a research report on Monday, May 15th. Finally, JPMorgan Chase & Co. upgraded Hubbell from an “underweight” rating to a “neutral” rating and lifted their price target for the stock from $200.00 to $205.00 in a research report on Wednesday, February 1st. Two research analysts have rated the stock with a sell rating, three have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Hubbell currently has an average rating of “Hold” and an average price target of $237.33.

Hubbell Stock Down 0.2 %

The company has a market cap of $15.01 billion, a P/E ratio of 26.74, a P/E/G ratio of 2.03 and a beta of 0.99. The company has a quick ratio of 1.25, a current ratio of 1.99 and a debt-to-equity ratio of 0.58. The business’s 50 day moving average is $247.89 and its 200 day moving average is $244.33.

Hubbell (NYSE:HUBB – Get Rating) last issued its quarterly earnings data on Tuesday, April 25th. The industrial products company reported $3.61 EPS for the quarter, topping analysts’ consensus estimates of $2.46 by $1.15. The company had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.25 billion. Hubbell had a net margin of 11.15% and a return on equity of 27.72%. Hubbell’s revenue for the quarter was up 11.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.12 earnings per share. As a group, equities analysts anticipate that Hubbell Incorporated will post 13.81 earnings per share for the current fiscal year.

Hubbell Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 15th. Shareholders of record on Wednesday, May 31st will be issued a $1.12 dividend. This represents a $4.48 annualized dividend and a yield of 1.60%. The ex-dividend date is Tuesday, May 30th. Hubbell’s dividend payout ratio is currently 42.79%.

Insiders Place Their Bets

In other Hubbell news, Director Carlos M. Cardoso sold 560 shares of Hubbell stock in a transaction on Friday, May 5th. The shares were sold at an average price of $273.16, for a total value of $152,969.60. Following the transaction, the director now directly owns 1,711 shares of the company’s stock, valued at $467,376.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.66% of the company’s stock.

Institutional Investors Weigh In On Hubbell

A number of large investors have recently made changes to their positions in HUBB. Panagora Asset Management Inc. raised its position in shares of Hubbell by 87.6% in the first quarter. Panagora Asset Management Inc. now owns 5,426 shares of the industrial products company’s stock worth $997,000 after acquiring an additional 2,533 shares during the period. Great West Life Assurance Co. Can grew its stake in shares of Hubbell by 9.4% in the 1st quarter. Great West Life Assurance Co. Can now owns 31,791 shares of the industrial products company’s stock valued at $6,006,000 after buying an additional 2,736 shares during the period. Blair William & Co. IL grew its stake in shares of Hubbell by 0.5% in the 1st quarter. Blair William & Co. IL now owns 22,986 shares of the industrial products company’s stock valued at $4,224,000 after buying an additional 120 shares during the period. Vanguard Group Inc. grew its stake in shares of Hubbell by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 5,454,758 shares of the industrial products company’s stock valued at $1,002,421,000 after buying an additional 23,865 shares during the period. Finally, Covestor Ltd boosted its position in shares of Hubbell by 137.3% during the 1st quarter. Covestor Ltd now owns 522 shares of the industrial products company’s stock worth $96,000 after purchasing an additional 302 shares during the period. 89.71% of the stock is owned by hedge funds and other institutional investors.

About Hubbell

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Hubbell, Inc engages in the designing, manufacturing, and sale of electrical and electronic products for non-residential and residential construction, industrial, and utility applications. It operates through the Electrical Solutions and Utility Solutions segments. The Electrical Solutions segment manufactures and sells wiring and electrical, lighting fixtures, and controls for indoor and outdoor applications as well as specialty lighting and communications products.