Hubbell Incorporated (NYSE:HUBB) Receives $472.13 Average Price Target from Analysts

Hubbell Incorporated (NYSE:HUBB) has been given an average recommendation of “Hold” by the eight analysts that are covering the firm, MarketBeat.com reports. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $472.13.

Several research firms have commented on HUBB. Deutsche Bank Aktiengesellschaft downgraded shares of Hubbell from a “buy” rating to a “hold” rating and decreased their price objective for the company from $493.00 to $473.00 in a report on Tuesday, November 26th. StockNews.com lowered shares of Hubbell from a “buy” rating to a “hold” rating in a research note on Tuesday, December 3rd. Barclays raised their price objective on shares of Hubbell from $402.00 to $475.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 5th. JPMorgan Chase & Co. downgraded Hubbell from an “overweight” rating to a “neutral” rating and upped their target price for the company from $385.00 to $454.00 in a research report on Thursday, October 10th. Finally, Sanford C. Bernstein initiated coverage on Hubbell in a report on Tuesday, November 5th. They set an “outperform” rating and a $535.00 price target for the company.

Hubbell Stock Performance

HUBB opened at $419.99 on Tuesday. The business’s 50-day simple moving average is $445.52 and its 200 day simple moving average is $412.83. Hubbell has a 52-week low of $315.38 and a 52-week high of $481.35. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.05 and a current ratio of 1.66. The firm has a market capitalization of $22.54 billion, a PE ratio of 30.26, a PEG ratio of 1.69 and a beta of 0.91.

Hubbell (NYSE:HUBB) last issued its earnings results on Tuesday, October 29th. The industrial products company reported $4.49 earnings per share for the quarter, topping analysts’ consensus estimates of $4.47 by $0.02. Hubbell had a net margin of 13.33% and a return on equity of 28.81%. The business had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.48 billion. During the same period in the previous year, the company earned $3.95 earnings per share. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. As a group, sell-side analysts expect that Hubbell will post 16.47 earnings per share for the current fiscal year.

Hubbell Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were paid a dividend of $1.32 per share. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date of this dividend was Friday, November 29th. This is a boost from Hubbell’s previous quarterly dividend of $1.22. Hubbell’s payout ratio is presently 38.04%.

Insider Activity

In other Hubbell news, insider Mark Eugene Mikes sold 1,144 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $466.20, for a total transaction of $533,332.80. Following the sale, the insider now directly owns 2,957 shares of the company’s stock, valued at $1,378,553.40. The trade was a 27.90 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.78% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Hubbell

Several institutional investors and hedge funds have recently made changes to their positions in HUBB. IFG Advisory LLC bought a new position in Hubbell during the second quarter worth $475,000. Acadian Asset Management LLC raised its position in shares of Hubbell by 51.3% in the 2nd quarter. Acadian Asset Management LLC now owns 3,693 shares of the industrial products company’s stock worth $1,347,000 after acquiring an additional 1,252 shares in the last quarter. LGT Capital Partners LTD. acquired a new position in shares of Hubbell in the 3rd quarter valued at about $39,687,000. Principal Financial Group Inc. boosted its position in shares of Hubbell by 7.1% during the 3rd quarter. Principal Financial Group Inc. now owns 229,210 shares of the industrial products company’s stock valued at $98,187,000 after purchasing an additional 15,215 shares in the last quarter. Finally, Private Advisor Group LLC grew its stake in Hubbell by 89.0% during the second quarter. Private Advisor Group LLC now owns 4,688 shares of the industrial products company’s stock worth $1,713,000 after purchasing an additional 2,207 shares during the period. Institutional investors and hedge funds 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.