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

Shares of Hubbell Incorporated (NYSE:HUBB) have been given a consensus recommendation of “Hold” by the eight analysts that are presently 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 target price among analysts that have issued ratings on the stock in the last year is $472.13.

HUBB has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft downgraded shares of Hubbell from a “buy” rating to a “hold” rating and reduced their price target for the company from $493.00 to $473.00 in a research note on Tuesday, November 26th. JPMorgan Chase & Co. cut shares of Hubbell from an “overweight” rating to a “neutral” rating and boosted their target price for the stock from $385.00 to $454.00 in a research note on Thursday, October 10th. Wells Fargo & Company upped their price target on shares of Hubbell from $445.00 to $455.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Mizuho raised their price objective on Hubbell from $450.00 to $490.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Finally, Barclays upped their target price on Hubbell from $402.00 to $475.00 and gave the stock an “equal weight” rating in a report on Thursday, December 5th.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Hubbell

Several large investors have recently modified their holdings of the company. Groupama Asset Managment boosted its position in Hubbell by 17.0% during the third quarter. Groupama Asset Managment now owns 6,955 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 1,010 shares during the last quarter. Prospera Private Wealth LLC acquired a new position in shares of Hubbell in the 3rd quarter valued at about $33,000. Ashton Thomas Securities LLC bought a new stake in shares of Hubbell during the 3rd quarter valued at about $41,000. Quarry LP acquired a new stake in Hubbell during the second quarter worth approximately $49,000. Finally, Northwest Investment Counselors LLC bought a new stake in Hubbell in the third quarter worth approximately $58,000. 88.16% of the stock is currently owned by institutional investors and hedge funds.

Hubbell Stock Down 0.4 %

NYSE HUBB opened at $455.35 on Friday. The business has a fifty day moving average price of $451.38 and a two-hundred day moving average price of $407.87. The stock has a market capitalization of $24.44 billion, a PE ratio of 32.81, a PEG ratio of 1.72 and a beta of 0.91. Hubbell has a fifty-two week low of $311.38 and a fifty-two week high of $481.35. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.66 and a quick ratio of 1.05.

Hubbell (NYSE:HUBB) last posted its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $4.49 EPS for the quarter, topping 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 company had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.48 billion. During the same quarter in the previous year, the firm earned $3.95 EPS. Hubbell’s revenue was up 4.9% on a year-over-year basis. Equities analysts expect that Hubbell will post 16.47 earnings per share for the current fiscal year.

Hubbell Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be given a dividend of $1.32 per share. This is a positive change from Hubbell’s previous quarterly dividend of $1.22. This represents a $5.28 annualized dividend and a yield of 1.16%. The ex-dividend date is Friday, November 29th. Hubbell’s dividend payout ratio (DPR) is currently 38.04%.

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.