Hubbell (NYSE:HUBB) Hits New 12-Month High – Still a Buy?

Shares of Hubbell Inc (NYSE:HUBB) hit a new 52-week high on Thursday . The stock traded as high as $498.89 and last traded at $486.7370, with a volume of 77207 shares changing hands. The stock had previously closed at $485.73.

Analyst Ratings Changes

Several analysts have issued reports on the company. JPMorgan Chase & Co. upped their target price on Hubbell from $417.00 to $458.00 and gave the company a “neutral” rating in a report on Wednesday, October 15th. Mizuho lifted their target price on Hubbell from $480.00 to $500.00 and gave the company an “outperform” rating in a research note on Monday, January 5th. UBS Group restated a “neutral” rating and set a $450.00 target price on shares of Hubbell in a report on Friday, December 12th. Morgan Stanley set a $515.00 price objective on Hubbell in a report on Wednesday, January 7th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Hubbell in a research note on Thursday, January 22nd. Five equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, Hubbell has an average rating of “Moderate Buy” and an average price target of $497.25.

Hubbell Stock Performance

The company has a 50-day moving average of $454.17 and a 200-day moving average of $441.35. The firm has a market capitalization of $26.15 billion, a P/E ratio of 30.53, a price-to-earnings-growth ratio of 2.45 and a beta of 1.02. The company has a current ratio of 1.36, a quick ratio of 0.85 and a debt-to-equity ratio of 0.28.

Hubbell (NYSE:HUBB) last issued its quarterly earnings results on Tuesday, October 28th. The industrial products company reported $5.17 earnings per share for the quarter, topping analysts’ consensus estimates of $4.98 by $0.19. Hubbell had a return on equity of 27.68% and a net margin of 15.24%.The firm had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.54 billion. During the same period last year, the business posted $4.49 EPS. The business’s revenue was up 4.1% compared to the same quarter last year. On average, equities analysts anticipate that Hubbell Inc will post 17.63 earnings per share for the current fiscal year.

Insider Buying and Selling at Hubbell

In related news, insider Mark Eugene Mikes sold 2,470 shares of Hubbell stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $466.50, for a total value of $1,152,255.00. Following the sale, the insider owned 4,785 shares of the company’s stock, valued at approximately $2,232,202.50. The trade was a 34.05% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Alyssa R. Flynn sold 2,011 shares of the company’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $470.32, for a total value of $945,813.52. Following the transaction, the insider directly owned 3,243 shares in the company, valued at $1,525,247.76. This represents a 38.28% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.76% of the company’s stock.

Institutional Investors Weigh In On Hubbell

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Thurston Springer Miller Herd & Titak Inc. grew its holdings in Hubbell by 147.8% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 57 shares of the industrial products company’s stock worth $25,000 after acquiring an additional 34 shares during the last quarter. NBT Bank N A NY purchased a new stake in shares of Hubbell during the fourth quarter worth about $27,000. Hantz Financial Services Inc. grew its stake in shares of Hubbell by 141.4% in the third quarter. Hantz Financial Services Inc. now owns 70 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 41 shares during the last quarter. Baillie Gifford & Co. grew its stake in shares of Hubbell by 62.8% in the fourth quarter. Baillie Gifford & Co. now owns 70 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 27 shares during the last quarter. Finally, Harbor Investment Advisory LLC increased its holdings in Hubbell by 630.0% during the 4th quarter. Harbor Investment Advisory LLC now owns 73 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 63 shares during the period. Institutional investors own 88.16% of the company’s stock.

Hubbell Company Profile

Hubbell Incorporated (NYSE: HUBB) is an industrial manufacturer and distributor of electrical and electronic products serving a range of end markets including commercial and residential construction, industrial, and utility customers. Founded in 1888 by Harvey Hubbell, the company has a long history in electrical innovation and product development and is headquartered in Connecticut. Hubbell designs, manufactures and sells components and systems that enable the distribution and control of electrical power and provide lighting solutions for indoor and outdoor environments.

The company’s offerings span a broad portfolio of products used by contractors, utilities, original equipment manufacturers and facility owners.