Hubbell Incorporated (NYSE:HUBB) Receives Average Rating of “Hold” from Analysts

Hubbell Incorporated (NYSE:HUBB) has earned a consensus recommendation of “Hold” from the eight brokerages that are currently covering the company, Marketbeat Ratings 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 $472.13.

HUBB has been the subject of several research reports. Deutsche Bank Aktiengesellschaft lowered shares of Hubbell from a “buy” rating to a “hold” rating and cut their target price for the stock from $493.00 to $473.00 in a research report on Tuesday, November 26th. StockNews.com lowered shares of Hubbell from a “buy” rating to a “hold” rating in a research report on Tuesday, December 3rd. Wells Fargo & Company upped their price target on shares of Hubbell from $445.00 to $455.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. lowered shares of Hubbell from an “overweight” rating to a “neutral” rating and upped their price target for the company from $385.00 to $454.00 in a research report on Thursday, October 10th. Finally, Barclays upped their price target on shares of Hubbell from $402.00 to $475.00 and gave the company an “equal weight” rating in a research report on Thursday, December 5th.

Insider Transactions at Hubbell

In other news, insider Mark Eugene Mikes sold 1,144 shares of the company’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 value of $533,332.80. Following the completion of the sale, the insider now owns 2,957 shares of the company’s stock, valued at approximately $1,378,553.40. This represents a 27.90 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.66% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. Prospera Private Wealth LLC acquired a new stake in Hubbell during the third quarter valued at $33,000. Ashton Thomas Securities LLC acquired a new stake in Hubbell during the third quarter valued at $41,000. Quarry LP acquired a new stake in Hubbell during the second quarter valued at $49,000. Northwest Investment Counselors LLC acquired a new stake in Hubbell during the third quarter valued at $58,000. Finally, GAMMA Investing LLC grew its position in shares of Hubbell by 84.7% in the third quarter. GAMMA Investing LLC now owns 157 shares of the industrial products company’s stock valued at $67,000 after purchasing an additional 72 shares during the period. Institutional investors own 88.16% of the company’s stock.

Hubbell Trading Down 0.9 %

Shares of HUBB stock opened at $419.19 on Tuesday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.05 and a current ratio of 1.66. Hubbell has a fifty-two week low of $315.38 and a fifty-two week high of $481.35. The company has a market cap of $22.50 billion, a PE ratio of 30.20, a P/E/G ratio of 1.70 and a beta of 0.91. The stock’s fifty day moving average price is $447.23 and its two-hundred day moving average price is $412.43.

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

Hubbell Increases Dividend

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

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.