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

Hubbell Incorporated (NYSE:HUBB) has received a consensus recommendation of “Hold” from the eight ratings firms that are currently covering the stock, MarketBeat Ratings reports. Five equities research 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 brokers that have updated their coverage on the stock in the last year is $471.50.

HUBB has been the subject of a number of analyst reports. Sanford C. Bernstein initiated coverage on Hubbell in a research note on Tuesday, November 5th. They issued an “outperform” rating and a $535.00 price target for the company. Barclays boosted their price target on Hubbell from $402.00 to $475.00 and gave the stock an “equal weight” rating in a report on Thursday, December 5th. Wells Fargo & Company decreased their target price on Hubbell from $455.00 to $450.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 7th. Morgan Stanley raised their price target on shares of Hubbell from $407.00 to $445.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Finally, StockNews.com upgraded shares of Hubbell from a “hold” rating to a “buy” rating in a research report on Monday, February 17th.

Hubbell Stock Down 3.3 %

Shares of HUBB opened at $376.74 on Wednesday. The firm has a market cap of $20.22 billion, a P/E ratio of 26.24, a price-to-earnings-growth ratio of 1.34 and a beta of 0.92. The firm’s 50-day simple moving average is $420.03 and its 200 day simple moving average is $424.45. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.98 and a current ratio of 1.64. Hubbell has a 52 week low of $346.13 and a 52 week high of $481.35.

Hubbell (NYSE:HUBB) last posted its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $4.10 earnings per share for the quarter, topping the consensus estimate of $4.02 by $0.08. The firm had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.41 billion. Hubbell had a return on equity of 28.62% and a net margin of 13.82%. The company’s quarterly revenue was down .9% compared to the same quarter last year. During the same quarter last year, the business earned $3.69 EPS. On average, analysts forecast that Hubbell will post 17.63 earnings per share for the current year.

Hubbell Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be paid a $1.32 dividend. The ex-dividend date is Friday, February 28th. This represents a $5.28 annualized dividend and a dividend yield of 1.40%. Hubbell’s dividend payout ratio is presently 36.77%.

Hubbell announced that its Board of Directors has approved a share buyback plan on Wednesday, February 12th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the industrial products company to reacquire up to 2.4% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Institutional Investors Weigh In On Hubbell

Institutional investors have recently bought and sold shares of the stock. Creative Planning boosted its position in Hubbell by 19.3% in the third quarter. Creative Planning now owns 4,144 shares of the industrial products company’s stock worth $1,775,000 after purchasing an additional 671 shares during the last quarter. Blue Trust Inc. raised its stake in shares of Hubbell by 61.9% during the 3rd quarter. Blue Trust Inc. now owns 518 shares of the industrial products company’s stock worth $222,000 after purchasing an additional 198 shares during the period. Raymond James & Associates boosted its holdings in shares of Hubbell by 1.6% in the 3rd quarter. Raymond James & Associates now owns 60,582 shares of the industrial products company’s stock worth $25,950,000 after buying an additional 931 shares during the last quarter. OLD National Bancorp IN grew its position in Hubbell by 3.8% during the third quarter. OLD National Bancorp IN now owns 596 shares of the industrial products company’s stock valued at $255,000 after buying an additional 22 shares during the period. Finally, Northwest Investment Counselors LLC purchased a new stake in Hubbell during the third quarter worth about $58,000. Institutional investors 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.