Hubbell Incorporated (NYSE:HUBB) Receives $464.88 Average Target Price from Analysts

Shares of Hubbell Incorporated (NYSE:HUBB) have been assigned a consensus rating of “Hold” from the eight analysts that are currently covering the stock, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $464.88.

A number of analysts have commented on the stock. Barclays cut their price target on shares of Hubbell from $475.00 to $422.00 and set an “equal weight” rating on the stock in a research report on Monday, March 3rd. Wells Fargo & Company cut their price target on shares of Hubbell from $455.00 to $450.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 7th. StockNews.com raised shares of Hubbell from a “hold” rating to a “buy” rating in a research report on Monday, February 17th. Finally, Deutsche Bank Aktiengesellschaft cut shares of Hubbell from a “buy” rating to a “hold” rating and cut their price target for the company from $493.00 to $473.00 in a research report on Tuesday, November 26th.

Hubbell Stock Performance

NYSE HUBB opened at $335.96 on Friday. The company has a market capitalization of $18.03 billion, a price-to-earnings ratio of 23.40, a PEG ratio of 1.34 and a beta of 0.95. Hubbell has a twelve month low of $330.32 and a twelve month high of $481.35. The stock has a fifty day simple moving average of $393.80 and a 200 day simple moving average of $420.99. The company has a quick ratio of 0.98, a current ratio of 1.64 and a debt-to-equity ratio of 0.44.

Hubbell (NYSE:HUBB) last issued its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $4.10 EPS for the quarter, beating analysts’ consensus estimates of $4.02 by $0.08. The business had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.41 billion. Hubbell had a net margin of 13.82% and a return on equity of 28.62%. The business’s quarterly revenue was down .9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.69 earnings per share. Sell-side analysts expect that Hubbell will post 17.63 EPS for the current year.

Hubbell declared that its Board of Directors has authorized a stock buyback plan on Wednesday, February 12th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the industrial products company to buy up to 2.4% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board believes its shares are undervalued.

Hubbell Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Friday, February 28th were given a $1.32 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $5.28 annualized dividend and a yield of 1.57%. Hubbell’s payout ratio is 36.77%.

Insider Activity at Hubbell

In related news, insider Alyssa R. Flynn sold 1,164 shares of the firm’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $389.06, for a total value of $452,865.84. Following the transaction, the insider now owns 4,327 shares of the company’s stock, valued at approximately $1,683,462.62. This trade represents a 21.20 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.78% of the stock is owned by insiders.

Hedge Funds Weigh In On Hubbell

Several large investors have recently added to or reduced their stakes in HUBB. Creative Financial Designs Inc. ADV increased its stake in Hubbell by 85.7% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 65 shares of the industrial products company’s stock valued at $27,000 after buying an additional 30 shares during the last quarter. Stonebridge Financial Group LLC purchased a new stake in Hubbell in the 4th quarter valued at about $30,000. Prospera Private Wealth LLC purchased a new stake in Hubbell in the 3rd quarter valued at about $33,000. Versant Capital Management Inc increased its stake in Hubbell by 64.6% in the 4th quarter. Versant Capital Management Inc now owns 79 shares of the industrial products company’s stock valued at $33,000 after buying an additional 31 shares during the last quarter. Finally, Johnson Financial Group Inc. increased its stake in Hubbell by 166.7% in the 4th quarter. Johnson Financial Group Inc. now owns 104 shares of the industrial products company’s stock valued at $44,000 after buying an additional 65 shares during the last quarter. Institutional investors own 88.16% of the company’s stock.

Hubbell Company Profile

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.