Brokerages Set Hubbell Incorporated (NYSE:HUBB) Price Target at $449.38

Shares of Hubbell Incorporated (NYSE:HUBB) have been given a consensus rating of “Hold” by the eight analysts that are covering the stock, MarketBeat.com reports. Five investment analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $449.38.

Several research analysts recently issued reports on HUBB shares. Barclays reduced their target price on shares of Hubbell from $422.00 to $400.00 and set an “equal weight” rating for the company in a report on Wednesday, March 26th. Wells Fargo & Company reduced their price objective on Hubbell from $455.00 to $450.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 7th. StockNews.com downgraded Hubbell from a “buy” rating to a “hold” rating in a research note on Friday. Finally, JPMorgan Chase & Co. reduced their price target on Hubbell from $430.00 to $352.00 and set a “neutral” rating for the company in a research report on Tuesday, April 8th.

Hubbell Stock Up 3.5 %

Hubbell stock opened at $353.73 on Thursday. Hubbell has a fifty-two week low of $299.43 and a fifty-two week high of $481.35. The company has a market cap of $18.98 billion, a PE ratio of 24.63, a PEG ratio of 1.34 and a beta of 0.95. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.98 and a current ratio of 1.64. The business’s 50-day simple moving average is $356.69 and its two-hundred day simple moving average is $411.91.

Hubbell (NYSE:HUBB) last issued its 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. Hubbell had a return on equity of 28.62% and a net margin of 13.82%. The firm had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.41 billion. During the same quarter in the prior year, the firm earned $3.69 earnings per share. Hubbell’s revenue for the quarter was down .9% on a year-over-year basis. Equities analysts anticipate that Hubbell will post 17.63 EPS for the current year.

Hubbell announced that its board has approved a stock repurchase plan on Wednesday, February 12th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the industrial products company to reacquire up to 2.4% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

Hubbell Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, February 28th were issued a dividend of $1.32 per share. This represents a $5.28 annualized dividend and a dividend yield of 1.49%. The ex-dividend date of this dividend was Friday, February 28th. Hubbell’s dividend payout ratio is currently 36.77%.

Insider Activity at Hubbell

In other news, insider Alyssa R. Flynn sold 1,164 shares of the stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $389.06, for a total value of $452,865.84. Following the completion of the sale, the insider now owns 4,327 shares of the company’s stock, valued at $1,683,462.62. This represents a 21.20 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.66% of the company’s stock.

Institutional Trading of Hubbell

Several institutional investors have recently made changes to their positions in the company. Salem Investment Counselors Inc. increased its stake in Hubbell by 26.0% during the fourth quarter. Salem Investment Counselors Inc. now owns 9,144 shares of the industrial products company’s stock worth $3,830,000 after acquiring an additional 1,886 shares during the last quarter. Janney Montgomery Scott LLC increased its position in shares of Hubbell by 122.4% during the 4th quarter. Janney Montgomery Scott LLC now owns 28,723 shares of the industrial products company’s stock worth $12,032,000 after purchasing an additional 15,806 shares during the last quarter. Principal Financial Group Inc. increased 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 worth $98,187,000 after purchasing an additional 15,215 shares during the last quarter. Nordea Investment Management AB raised its holdings in Hubbell by 29.6% in the 4th quarter. Nordea Investment Management AB now owns 160,630 shares of the industrial products company’s stock valued at $67,503,000 after buying an additional 36,643 shares during the period. Finally, SPX Gestao de Recursos Ltda acquired a new position in Hubbell in the third quarter valued at about $9,985,000. 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.