Hubbell Inc. (HUBB) Receives Average Rating of “Hold” from Analysts
Hubbell Inc. (NYSE:HUBB) has earned a consensus recommendation of “Hold” from the seven research firms that are currently covering the firm. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $102.50.
Separately, Zacks Investment Research upgraded Hubbell from a “hold” rating to a “buy” rating and set a $116.00 price objective for the company in a research report on Wednesday, October 19th.
Several hedge funds have recently added to or reduced their stakes in HUBB. Citadel Advisors LLC raised its stake in shares of Hubbell by 1,515.8% in the second quarter. Citadel Advisors LLC now owns 636,379 shares of the company’s stock valued at $67,119,000 after buying an additional 596,994 shares in the last quarter. York Capital Management Global Advisors LLC purchased a new stake in shares of Hubbell during the third quarter valued at about $32,995,000. Alliancebernstein L.P. raised its stake in shares of Hubbell by 707.2% in the second quarter. Alliancebernstein L.P. now owns 337,857 shares of the company’s stock valued at $35,634,000 after buying an additional 296,004 shares in the last quarter. Adage Capital Partners GP L.L.C. raised its stake in shares of Hubbell by 111.7% in the third quarter. Adage Capital Partners GP L.L.C. now owns 546,431 shares of the company’s stock valued at $58,872,000 after buying an additional 288,353 shares in the last quarter. Finally, Victory Capital Management Inc. raised its stake in shares of Hubbell by 35.4% in the second quarter. Victory Capital Management Inc. now owns 727,252 shares of the company’s stock valued at $76,704,000 after buying an additional 190,141 shares in the last quarter. Institutional investors own 82.80% of the company’s stock.
Hubbell (NYSE:HUBB) traded down 0.63% during midday trading on Monday, reaching $111.77. The company’s stock had a trading volume of 221,116 shares. The firm has a market capitalization of $6.19 billion, a price-to-earnings ratio of 21.78 and a beta of 0.92. The stock’s 50-day moving average price is $106.46 and its 200-day moving average price is $105.67. Hubbell has a 12 month low of $83.16 and a 12 month high of $113.54.
Hubbell (NYSE:HUBB) last announced its quarterly earnings data on Tuesday, October 25th. The company reported $1.63 EPS for the quarter, beating analysts’ consensus estimates of $1.50 by $0.13. Hubbell had a return on equity of 19.40% and a net margin of 8.33%. The company earned $907 million during the quarter, compared to the consensus estimate of $910.78 million. The business’s revenue for the quarter was up 3.5% compared to the same quarter last year. Analysts predict that Hubbell will post $5.30 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Wednesday, November 30th will be issued a $0.70 dividend. The ex-dividend date is Monday, November 28th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.47%. This is a positive change from Hubbell’s previous quarterly dividend of $0.63. Hubbell’s dividend payout ratio is presently 48.93%.
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Hubbell Incorporated is engaged in the design, manufacture and sale of electrical and electronic products for a range of non-residential and residential construction, industrial and utility applications. The Company operates through two segments: Electrical and Power. The Electrical segment consists of electrical systems products and lighting products.
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