Hubbell (NYSE:HUBB) posted its quarterly earnings results on Tuesday. The industrial products company reported $1.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.69 by $0.03, Fidelity Earnings reports. The business had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.13 billion. Hubbell had a return on equity of 23.08% and a net margin of 6.88%. The firm’s quarterly revenue was up 24.7% compared to the same quarter last year. During the same quarter last year, the business earned $1.54 earnings per share. Hubbell updated its FY 2019 guidance to $7.80-8.20 EPS and its FY19 guidance to $7.80 to $8.20 EPS.
Shares of HUBB opened at $113.92 on Wednesday. The company has a current ratio of 1.88, a quick ratio of 1.16 and a debt-to-equity ratio of 1.01. Hubbell has a 1 year low of $91.88 and a 1 year high of $137.67. The stock has a market cap of $6.09 billion, a price-to-earnings ratio of 19.21, a P/E/G ratio of 1.43 and a beta of 1.41.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 15th. Shareholders of record on Thursday, February 28th will be issued a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 2.95%. The ex-dividend date of this dividend is Wednesday, February 27th. Hubbell’s dividend payout ratio (DPR) is currently 56.66%.
Several equities analysts recently issued reports on HUBB shares. Wolfe Research upgraded Hubbell to a “buy” rating and set a $131.00 price target on the stock in a report on Wednesday, October 24th. They noted that the move was a valuation call. ValuEngine cut Hubbell from a “hold” rating to a “sell” rating in a report on Tuesday, October 23rd. Morgan Stanley cut Hubbell from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $131.00 to $109.00 in a report on Tuesday, December 18th. Oppenheimer restated a “market perform” rating on shares of Hubbell in a report on Tuesday, January 8th. Finally, CIBC restated a “market perform” rating on shares of Hubbell in a report on Tuesday, January 8th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the stock. Hubbell presently has an average rating of “Hold” and an average price target of $134.17.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc raised its position in shares of Hubbell by 0.7% during the third quarter. Vanguard Group Inc now owns 5,362,450 shares of the industrial products company’s stock worth $716,262,000 after purchasing an additional 39,278 shares during the period. BlackRock Inc. raised its position in Hubbell by 4.1% in the 3rd quarter. BlackRock Inc. now owns 5,152,527 shares of the industrial products company’s stock valued at $688,223,000 after buying an additional 200,582 shares during the last quarter. FMR LLC raised its position in Hubbell by 25.5% in the 2nd quarter. FMR LLC now owns 1,662,452 shares of the industrial products company’s stock valued at $175,788,000 after buying an additional 337,915 shares during the last quarter. Victory Capital Management Inc. raised its position in Hubbell by 1.5% in the 4th quarter. Victory Capital Management Inc. now owns 1,139,552 shares of the industrial products company’s stock valued at $113,203,000 after buying an additional 17,325 shares during the last quarter. Finally, Citadel Advisors LLC raised its position in Hubbell by 4,388.8% in the 3rd quarter. Citadel Advisors LLC now owns 993,412 shares of the industrial products company’s stock valued at $132,690,000 after buying an additional 971,281 shares during the last quarter. 86.68% of the stock is currently owned by institutional investors.
Hubbell Incorporated designs, manufactures, and sells electrical and electronic products in the United States and internationally. It operates through two segments, Electrical and Power. The Electrical segment offers standard and special application wiring device products, rough-in electrical products, connector and grounding products, lighting fixtures and controls, 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 for the natural gas distribution market.
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