Brokerages Set Hubbell Incorporated (NYSE:HUBB) Price Target at $464.88

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

HUBB has been the subject of several analyst reports. StockNews.com raised shares of Hubbell from a “hold” rating to a “buy” rating in a research report on Monday, February 17th. Barclays reduced their target price on Hubbell from $475.00 to $422.00 and set an “equal weight” rating for the company in a report on Monday, March 3rd. Deutsche Bank Aktiengesellschaft downgraded Hubbell from a “buy” rating to a “hold” rating and lowered their price target for the company from $493.00 to $473.00 in a report on Tuesday, November 26th. Finally, 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 report on Tuesday, January 7th.

Insider Buying and Selling

In other news, insider Alyssa R. Flynn sold 1,164 shares of Hubbell stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $389.06, for a total value of $452,865.84. Following the sale, the insider now directly owns 4,327 shares of the company’s stock, valued at approximately $1,683,462.62. The trade was a 21.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.78% of the stock is currently owned by insiders.

Institutional Trading of Hubbell

Large investors have recently added to or reduced their stakes in the company. MassMutual Private Wealth & Trust FSB raised its position in Hubbell by 12.3% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 228 shares of the industrial products company’s stock worth $96,000 after purchasing an additional 25 shares during the period. JGP Wealth Management LLC lifted its holdings in shares of Hubbell by 1.2% during the 4th quarter. JGP Wealth Management LLC now owns 2,110 shares of the industrial products company’s stock valued at $884,000 after purchasing an additional 26 shares during the last quarter. Huntington National Bank increased its holdings in shares of Hubbell by 3.0% during the fourth quarter. Huntington National Bank now owns 886 shares of the industrial products company’s stock valued at $371,000 after acquiring an additional 26 shares in the last quarter. Nissay Asset Management Corp Japan ADV raised its holdings in shares of Hubbell by 0.4% in the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 6,515 shares of the industrial products company’s stock worth $2,757,000 after buying an additional 26 shares during the last quarter. Finally, Sanctuary Advisors LLC grew its stake in Hubbell by 0.5% during the 4th quarter. Sanctuary Advisors LLC now owns 5,422 shares of the industrial products company’s stock valued at $2,313,000 after purchasing an additional 27 shares during the last quarter. Institutional investors own 88.16% of the company’s stock.

Hubbell Price Performance

Shares of HUBB opened at $339.76 on Friday. 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 firm’s 50-day simple moving average is $390.06 and its two-hundred day simple moving average is $419.88. Hubbell has a fifty-two week low of $330.32 and a fifty-two week high of $481.35. The stock has a market cap of $18.23 billion, a PE ratio of 23.66, a price-to-earnings-growth ratio of 1.34 and a beta of 0.95.

Hubbell (NYSE:HUBB) last released its earnings results on Tuesday, February 4th. The industrial products company reported $4.10 EPS for the quarter, topping the consensus estimate of $4.02 by $0.08. Hubbell had a return on equity of 28.62% and a net margin of 13.82%. The business had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.41 billion. During the same period in the previous year, the company posted $3.69 earnings per share. The company’s revenue for the quarter was down .9% compared to the same quarter last year. Analysts anticipate that Hubbell will post 17.63 earnings per share for the current fiscal year.

Hubbell Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Friday, February 28th were given a dividend of $1.32 per share. The ex-dividend date was Friday, February 28th. This represents a $5.28 annualized dividend and a yield of 1.55%. Hubbell’s dividend payout ratio (DPR) is 36.77%.

Hubbell announced that its Board of Directors has approved a stock buyback plan on Wednesday, February 12th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the industrial products company to repurchase up to 2.4% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

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.