Hubbell Incorporated (NYSE:HUBB) Receives $353.00 Average Price Target from Brokerages

Shares of Hubbell Incorporated (NYSE:HUBBGet Free Report) have earned a consensus rating of “Moderate Buy” from the seven brokerages that are presently covering the firm, Marketbeat reports. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $353.00.

A number of equities research analysts recently commented on HUBB shares. Stephens restated an “overweight” rating and set a $375.00 price target on shares of Hubbell in a research report on Wednesday, November 1st. JPMorgan Chase & Co. upgraded Hubbell from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $333.00 to $335.00 in a research report on Friday, November 17th. TD Cowen started coverage on Hubbell in a research report on Friday, December 8th. They set an “outperform” rating and a $338.00 price target on the stock. Barclays upped their price objective on Hubbell from $330.00 to $340.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 31st. Finally, StockNews.com downgraded Hubbell from a “buy” rating to a “hold” rating in a report on Friday, February 2nd.

Read Our Latest Stock Analysis on Hubbell

Hubbell Price Performance

NYSE HUBB opened at $359.82 on Friday. Hubbell has a fifty-two week low of $219.77 and a fifty-two week high of $364.76. The stock’s 50-day moving average is $327.97 and its two-hundred day moving average is $312.42. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.64 and a quick ratio of 1.01. The firm has a market cap of $19.29 billion, a P/E ratio of 25.61, a price-to-earnings-growth ratio of 2.21 and a beta of 0.92.

Hubbell (NYSE:HUBBGet Free Report) last released its 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 business had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.32 billion. Hubbell had a return on equity of 30.82% and a net margin of 14.14%. The firm’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same period last year, the business earned $2.60 earnings per share. On average, analysts anticipate that Hubbell will post 16.39 earnings per share for the current fiscal year.

Hubbell Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 15th. Investors of record on Thursday, February 29th will be paid a dividend of $1.22 per share. This represents a $4.88 annualized dividend and a yield of 1.36%. The ex-dividend date is Wednesday, February 28th. Hubbell’s payout ratio is presently 34.73%.

Insider Buying and Selling

In other news, Director John F. Malloy bought 797 shares of the stock in a transaction on Monday, December 11th. The stock was purchased at an average price of $313.50 per share, for a total transaction of $249,859.50. Following the acquisition, the director now owns 17,923 shares in the company, valued at $5,618,860.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, Director John F. Malloy acquired 797 shares of the firm’s stock in a transaction dated Monday, December 11th. The stock was bought at an average price of $313.50 per share, for a total transaction of $249,859.50. Following the acquisition, the director now directly owns 17,923 shares of the company’s stock, valued at $5,618,860.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Katherine Anne Lane sold 1,468 shares of the firm’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $352.51, for a total value of $517,484.68. Following the completion of the transaction, the vice president now owns 9,355 shares of the company’s stock, valued at approximately $3,297,731.05. The disclosure for this sale can be found here. In the last quarter, insiders have sold 31,891 shares of company stock valued at $11,262,870. 0.66% of the stock is owned by company insiders.

Institutional Investors Weigh In On Hubbell

Several hedge funds have recently bought and sold shares of HUBB. North Star Asset Management Inc. lifted its holdings in Hubbell by 1.5% in the third quarter. North Star Asset Management Inc. now owns 2,381 shares of the industrial products company’s stock valued at $746,000 after buying an additional 36 shares during the period. Xponance Inc. lifted its stake in shares of Hubbell by 0.4% during the 4th quarter. Xponance Inc. now owns 9,140 shares of the industrial products company’s stock valued at $3,006,000 after buying an additional 36 shares in the last quarter. Tevis Investment Management lifted its stake in Hubbell by 4.0% in the 3rd quarter. Tevis Investment Management now owns 960 shares of the industrial products company’s stock worth $301,000 after purchasing an additional 37 shares in the last quarter. Coldstream Capital Management Inc. raised its position in shares of Hubbell by 1.2% during the 2nd quarter. Coldstream Capital Management Inc. now owns 3,427 shares of the industrial products company’s stock valued at $1,136,000 after buying an additional 39 shares in the last quarter. Finally, Haverford Trust Co grew its holdings in shares of Hubbell by 3.9% during the 2nd quarter. Haverford Trust Co now owns 1,090 shares of the industrial products company’s stock valued at $361,000 after purchasing an additional 41 shares during the last quarter. 85.97% of the stock is currently owned by institutional investors and hedge funds.

About Hubbell

(Get Free Report

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.

Further Reading

Analyst Recommendations for Hubbell (NYSE:HUBB)

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