Hubbell (NYSE:HUBB) Sees Large Volume Increase

Hubbell Incorporated (NYSE:HUBB - Get Free Report) saw unusually-high trading volume on Tuesday . Approximately 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.

Analyst Ratings Changes

A number of equities research analysts have weighed in on HUBB shares. Wells Fargo & Company lifted their price objective on Hubbell from $351.00 to $360.00 and gave the company an "equal weight" rating in a report on Wednesday, January 31st. Barclays increased their price objective on Hubbell from $340.00 to $400.00 and gave the stock an "equal weight" rating in a research report on Tuesday, April 2nd. Mizuho upped their price target on shares of Hubbell from $370.00 to $450.00 and gave the stock a "buy" rating in a research note on Wednesday, March 20th. Deutsche Bank Aktiengesellschaft began coverage on shares of Hubbell in a report on Monday, March 11th. They issued a "hold" rating and a $427.00 price target for the company. Finally, StockNews.com downgraded shares of Hubbell from a "buy" rating to a "hold" rating in a report on Friday, February 2nd. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, Hubbell presently has a consensus rating of "Moderate Buy" and an average price target of $383.57.

Hubbell Price Performance

The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.01 and a current ratio of 1.64. The company has a 50-day moving average of $397.23 and a 200-day moving average of $344.32. The stock has a market capitalization of $19.87 billion, a price-to-earnings ratio of 26.37, a P/E/G ratio of 2.48 and a beta of 0.94.

Hubbell (NYSE:HUBB - Get Free Report) last released its quarterly earnings results on Tuesday, January 30th. The industrial products company reported $3.69 earnings per share for the quarter, topping analysts' consensus estimates of $3.58 by $0.11. The company had revenue of $1.35 billion during the quarter, compared to analysts' expectations of $1.32 billion. Hubbell had a return on equity of 30.82% and a net margin of 14.14%. The business's revenue for the quarter was up 10.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.60 earnings per share. As a group, equities research analysts expect that Hubbell Incorporated will post 16.43 earnings per share for the current fiscal year.

Hubbell Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Friday, May 31st will be paid a dividend of $1.22 per share. The ex-dividend date is Friday, May 31st. This represents a $4.88 annualized dividend and a dividend yield of 1.32%. Hubbell's dividend payout ratio is currently 34.73%.

Insider Activity

In other news, VP Nero Jonathan M. Del sold 1,098 shares of the firm's stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $352.74, for a total transaction of $387,308.52. Following the sale, the vice president now owns 3,646 shares in the company, valued at $1,286,090.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Hubbell news, CFO William R. Sperry sold 14,925 shares of Hubbell stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $352.99, for a total value of $5,268,375.75. Following the transaction, the chief financial officer now owns 37,848 shares in the company, valued at approximately $13,359,965.52. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Nero Jonathan M. Del sold 1,098 shares of the business's stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $352.74, for a total transaction of $387,308.52. Following the sale, the vice president now directly owns 3,646 shares of the company's stock, valued at $1,286,090.04. The disclosure for this sale can be found here. Insiders sold a total of 34,125 shares of company stock valued at $12,065,100 over the last 90 days. Insiders own 0.78% of the company's stock.

Institutional Trading of Hubbell

A number of institutional investors have recently modified their holdings of the company. EverSource Wealth Advisors LLC boosted its position in Hubbell by 1,850.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 78 shares of the industrial products company's stock worth $26,000 after purchasing an additional 74 shares during the period. Lindbrook Capital LLC grew its position in Hubbell by 127.5% in the fourth quarter. Lindbrook Capital LLC now owns 91 shares of the industrial products company's stock valued at $30,000 after acquiring an additional 51 shares in the last quarter. Baillie Gifford & Co. purchased a new stake in shares of Hubbell during the fourth quarter valued at approximately $33,000. Principal Securities Inc. acquired a new position in shares of Hubbell during the fourth quarter worth $40,000. Finally, Riverview Trust Co acquired a new position in shares of Hubbell during the first quarter worth $52,000. Hedge funds and other institutional investors 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.