Hubbell Inc (NYSE:HUBB) Receives Consensus Rating of “Hold” from Analysts

Shares of Hubbell Inc (NYSE:HUBB) have received an average recommendation of “Hold” from the eight brokerages that are covering the stock, MarketBeat.com reports. Five research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $456.25.

Several analysts recently issued reports on the stock. Wall Street Zen cut shares of Hubbell from a “buy” rating to a “hold” rating in a report on Friday, April 11th. Barclays upped their price target on shares of Hubbell from $414.00 to $420.00 and gave the company an “equal weight” rating in a report on Wednesday, July 9th. Wells Fargo & Company set a $420.00 price target on shares of Hubbell and gave the company an “equal weight” rating in a report on Tuesday, July 1st. Finally, JPMorgan Chase & Co. upped their price target on shares of Hubbell from $352.00 to $417.00 and gave the company a “neutral” rating in a report on Friday, May 16th.

Hubbell Trading Down 1.5%

NYSE HUBB opened at $430.83 on Friday. The company’s fifty day simple moving average is $399.79 and its 200-day simple moving average is $383.15. Hubbell has a 52 week low of $299.43 and a 52 week high of $481.35. The company has a current ratio of 1.17, a quick ratio of 0.73 and a debt-to-equity ratio of 0.32. The stock has a market cap of $22.99 billion, a P/E ratio of 29.15, a PEG ratio of 1.53 and a beta of 0.99.

Hubbell (NYSE:HUBB) last posted its earnings results on Thursday, May 1st. The industrial products company reported $3.50 EPS for the quarter, missing analysts’ consensus estimates of $3.73 by ($0.23). Hubbell had a return on equity of 27.68% and a net margin of 14.29%. The firm had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.39 billion. During the same period in the previous year, the firm posted $3.60 earnings per share. The company’s revenue for the quarter was down 2.4% on a year-over-year basis. Equities research analysts predict that Hubbell will post 17.63 EPS for the current fiscal year.

Hubbell Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Friday, May 30th were issued a dividend of $1.32 per share. The ex-dividend date was Friday, May 30th. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.23%. Hubbell’s dividend payout ratio (DPR) is 35.72%.

Insiders Place Their Bets

In other Hubbell news, Director Carlos M. Cardoso sold 400 shares of the stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $386.29, for a total transaction of $154,516.00. Following the sale, the director directly owned 1,727 shares of the company’s stock, valued at approximately $667,122.83. This represents a 18.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Gerben Bakker sold 7,723 shares of the company’s stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $384.63, for a total transaction of $2,970,497.49. Following the transaction, the chief executive officer owned 82,101 shares of the company’s stock, valued at $31,578,507.63. This represents a 8.60% decrease in their position. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Hubbell

Several institutional investors have recently modified their holdings of HUBB. Natixis Advisors LLC grew its position in shares of Hubbell by 8.9% during the fourth quarter. Natixis Advisors LLC now owns 24,450 shares of the industrial products company’s stock worth $10,242,000 after acquiring an additional 2,005 shares during the last quarter. Envestnet Portfolio Solutions Inc. grew its position in Hubbell by 2.8% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 2,348 shares of the industrial products company’s stock valued at $984,000 after buying an additional 63 shares in the last quarter. Creative Financial Designs Inc. ADV grew its position 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 in the last quarter. Cibc World Markets Corp grew its position in Hubbell by 16.1% in the 4th quarter. Cibc World Markets Corp now owns 8,498 shares of the industrial products company’s stock valued at $3,560,000 after buying an additional 1,180 shares in the last quarter. Finally, Thrivent Financial for Lutherans grew its position in Hubbell by 32.4% in the 4th quarter. Thrivent Financial for Lutherans now owns 11,094 shares of the industrial products company’s stock valued at $4,948,000 after buying an additional 2,713 shares in 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.