Hubbell Incorporated (NYSE:HUBB) Given Consensus Recommendation of “Hold” by Brokerages

Hubbell Incorporated (NYSE:HUBB) has received an average rating of “Hold” from the eight analysts that are currently covering the stock, Marketbeat reports. Five analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $449.38.

Several research analysts have recently issued reports on HUBB shares. StockNews.com lowered shares of Hubbell from a “buy” rating to a “hold” rating in a research note on Friday, April 11th. Barclays reduced their price objective on shares of Hubbell from $422.00 to $400.00 and set an “equal weight” rating on the stock in a research note on Wednesday, March 26th. Finally, JPMorgan Chase & Co. dropped their target price on shares of 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 Performance

Shares of Hubbell stock opened at $356.66 on Monday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.64 and a quick ratio of 0.98. The firm has a 50 day simple moving average of $343.12 and a 200 day simple moving average of $399.31. Hubbell has a fifty-two week low of $299.43 and a fifty-two week high of $481.35. The firm has a market cap of $19.14 billion, a P/E ratio of 24.84, a P/E/G ratio of 1.34 and a beta of 0.97.

Hubbell (NYSE:HUBB) last released its earnings results on Thursday, May 1st. The industrial products company reported $3.50 EPS for the quarter, missing the consensus estimate of $3.73 by ($0.23). Hubbell had a net margin of 13.82% and a return on equity of 28.62%. The firm had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.39 billion. During the same period last year, the business posted $3.60 earnings per share. The firm’s quarterly revenue was down 2.4% on a year-over-year basis. Sell-side analysts predict that Hubbell will post 17.63 earnings per share for the current fiscal year.

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

Hubbell Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 30th will be paid a dividend of $1.32 per share. This represents a $5.28 annualized dividend and a yield of 1.48%. The ex-dividend date is Friday, May 30th. Hubbell’s payout ratio is presently 35.72%.

Insiders Place Their Bets

In related news, insider Alyssa R. Flynn sold 1,164 shares of the business’s stock in a transaction 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 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 position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.66% of the company’s stock.

Institutional Trading of Hubbell

Hedge funds and other institutional investors have recently modified their holdings of the company. Norges Bank bought a new position in shares of Hubbell during the fourth quarter worth about $195,218,000. Deutsche Bank AG grew its stake in shares of Hubbell by 35.1% during the 1st quarter. Deutsche Bank AG now owns 1,104,085 shares of the industrial products company’s stock worth $365,353,000 after acquiring an additional 287,047 shares in the last quarter. Marshall Wace LLP raised its holdings in shares of Hubbell by 418.1% in the fourth quarter. Marshall Wace LLP now owns 307,050 shares of the industrial products company’s stock valued at $128,620,000 after purchasing an additional 247,786 shares during the last quarter. Bain Capital Public Equity Management II LLC bought a new stake in shares of Hubbell in the fourth quarter worth $95,868,000. Finally, GAMMA Investing LLC boosted its holdings in Hubbell by 52,429.8% during the first quarter. GAMMA Investing LLC now owns 192,259 shares of the industrial products company’s stock worth $636,200,000 after purchasing an additional 191,893 shares during the last quarter. Institutional investors and hedge funds 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.