Hubbell (NYSE:HUBB) Sees Strong Trading Volume After Better-Than-Expected Earnings

Hubbell Incorporated (NYSE:HUBB) shares saw strong trading volume on Tuesday after the company announced better than expected quarterly earnings. 710,100 shares were traded during trading, an increase of 73% from the previous session’s volume of 409,551 shares.The stock last traded at $377.27 and had previously closed at $407.19.

The industrial products company reported $3.60 EPS for the quarter, beating the consensus estimate of $3.54 by $0.06. The company had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.39 billion. Hubbell had a net margin of 13.23% and a return on equity of 29.55%. The firm’s revenue was up 8.8% on a year-over-year basis. During the same quarter last year, the business earned $3.61 earnings per share.

Hubbell Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Friday, May 31st will be given a dividend of $1.22 per share. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $4.88 annualized dividend and a yield of 1.31%. Hubbell’s dividend payout ratio is presently 36.39%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Wells Fargo & Company dropped their price target on shares of Hubbell from $435.00 to $397.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Barclays dropped their target price on shares of Hubbell from $400.00 to $384.00 and set an “equal weight” rating on the stock in a research report on Thursday. StockNews.com lowered shares of Hubbell from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Mizuho lifted their target price on shares of Hubbell from $370.00 to $450.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Hubbell in a research report on Monday, March 11th. They issued a “hold” rating and a $427.00 target price on the stock. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $386.57.

Insider Transactions at Hubbell

In other news, insider Mark Eugene Mikes sold 397 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $363.45, for a total value of $144,289.65. Following the transaction, the insider now directly owns 4,899 shares of the company’s stock, valued at $1,780,541.55. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, insider Mark Eugene Mikes sold 397 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $363.45, for a total value of $144,289.65. Following the transaction, the insider now directly owns 4,899 shares of the company’s stock, valued at $1,780,541.55. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Nero Jonathan M. Del sold 1,098 shares of the firm’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $352.74, for a total transaction of $387,308.52. Following the completion of the transaction, the vice president now directly owns 3,646 shares in the company, valued at $1,286,090.04. The disclosure for this sale can be found here. Over the last three months, insiders have sold 34,125 shares of company stock valued at $12,065,100. Corporate insiders own 0.66% of the company’s stock.

Hedge Funds Weigh In On Hubbell

A number of institutional investors have recently bought and sold shares of HUBB. International Assets Investment Management LLC raised its stake in Hubbell by 32,734.4% during the fourth quarter. International Assets Investment Management LLC now owns 1,472,949 shares of the industrial products company’s stock worth $484,497,000 after purchasing an additional 1,468,463 shares during the period. Vanguard Group Inc. raised its stake in Hubbell by 15.9% during the fourth quarter. Vanguard Group Inc. now owns 6,696,582 shares of the industrial products company’s stock worth $2,202,707,000 after purchasing an additional 918,808 shares during the period. Norges Bank purchased a new position in Hubbell during the fourth quarter worth about $143,024,000. Massachusetts Financial Services Co. MA raised its stake in Hubbell by 46.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,020,067 shares of the industrial products company’s stock worth $319,699,000 after purchasing an additional 323,116 shares during the period. Finally, Westwood Holdings Group Inc. raised its stake in Hubbell by 575.7% during the fourth quarter. Westwood Holdings Group Inc. now owns 288,186 shares of the industrial products company’s stock worth $94,793,000 after purchasing an additional 245,536 shares during the period. 88.16% of the stock is owned by hedge funds and other institutional investors.

Hubbell Stock Down 0.1 %

The company has a debt-to-equity ratio of 0.64, a current ratio of 1.66 and a quick ratio of 1.01. The business’s 50 day simple moving average is $397.61 and its 200 day simple moving average is $344.52. The company has a market capitalization of $20.00 billion, a PE ratio of 27.85, a P/E/G ratio of 2.26 and a beta of 0.96.

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.