Hubbell Incorporated (NYSE:HUBB) Given Average Rating of “Hold” by Analysts

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

HUBB has been the topic of a number of recent analyst reports. Wells Fargo & Company decreased their target price on shares of Hubbell from $455.00 to $450.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 7th. StockNews.com raised shares of Hubbell from a “hold” rating to a “buy” rating in a research report on Monday, February 17th. Barclays lowered their target price on shares of Hubbell from $475.00 to $422.00 and set an “equal weight” rating for the company in a report on Monday, March 3rd. Finally, Deutsche Bank Aktiengesellschaft cut Hubbell from a “buy” rating to a “hold” rating and decreased their target price for the company from $493.00 to $473.00 in a research report on Tuesday, November 26th.

Hubbell Price Performance

NYSE:HUBB opened at $339.76 on Friday. Hubbell has a 12 month low of $330.32 and a 12 month high of $481.35. The company has a current ratio of 1.64, a quick ratio of 0.98 and a debt-to-equity ratio of 0.44. The stock has a 50 day moving average of $390.06 and a two-hundred day moving average of $419.88. The firm has a market cap of $18.23 billion, a P/E 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 quarterly earnings data on Tuesday, February 4th. The industrial products company reported $4.10 earnings per share for the quarter, topping 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 company had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.41 billion. During the same quarter in the previous year, the company posted $3.69 earnings per share. The firm’s revenue for the quarter was down .9% compared to the same quarter last year. On average, analysts expect that Hubbell will post 17.63 earnings per share for the current fiscal year.

Hubbell Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, February 28th were issued a $1.32 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $5.28 annualized dividend and a dividend yield of 1.55%. Hubbell’s dividend payout ratio is currently 36.77%.

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

Insider Transactions at Hubbell

In other Hubbell news, insider Alyssa R. Flynn sold 1,164 shares of the stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $389.06, for a total transaction of $452,865.84. Following the sale, the insider now owns 4,327 shares in the company, valued at approximately $1,683,462.62. This represents a 21.20 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.78% of the company’s stock.

Institutional Trading of Hubbell

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