Hubbell Incorporated (NYSE:HUBB) Receives Average Rating of “Hold” from Brokerages

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

HUBB has been the topic of several research analyst reports. JPMorgan Chase & Co. dropped their target price on shares of Hubbell from $430.00 to $352.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 8th. StockNews.com cut Hubbell from a “buy” rating to a “hold” rating in a report on Friday, April 11th. Finally, Barclays cut their price objective on Hubbell from $422.00 to $400.00 and set an “equal weight” rating for the company in a research note on Wednesday, March 26th.

Hubbell Stock Performance

Shares of HUBB stock opened at $356.66 on Monday. The company has a current ratio of 1.64, a quick ratio of 0.98 and a debt-to-equity ratio of 0.44. Hubbell has a 12-month low of $299.43 and a 12-month high of $481.35. The business’s 50 day moving average is $343.12 and its two-hundred day moving average is $398.64. The company has a market capitalization 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 announced its earnings results on Thursday, May 1st. The industrial products company reported $3.50 earnings per share for the quarter, missing the consensus estimate of $3.73 by ($0.23). Hubbell had a return on equity of 28.62% and a net margin of 13.82%. The business 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 company earned $3.60 earnings per share. The company’s quarterly revenue was down 2.4% compared to the same quarter last year. Analysts expect that Hubbell will post 17.63 EPS for the current fiscal year.

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

Hubbell Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 30th will be paid a $1.32 dividend. This represents a $5.28 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date of this dividend is Friday, May 30th. Hubbell’s dividend payout ratio (DPR) is 35.72%.

Insider Buying and Selling

In other Hubbell news, insider Alyssa R. Flynn sold 1,164 shares of the firm’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $389.06, for a total value of $452,865.84. Following the completion of the sale, the insider now directly owns 4,327 shares of the company’s stock, valued at $1,683,462.62. This trade represents a 21.20% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.66% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Creative Financial Designs Inc. ADV boosted its holdings 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 purchasing an additional 30 shares during the last quarter. Stonebridge Financial Group LLC purchased a new stake in shares of Hubbell during the 4th quarter valued at approximately $30,000. Versant Capital Management Inc lifted its holdings in Hubbell by 64.6% in the fourth quarter. Versant Capital Management Inc now owns 79 shares of the industrial products company’s stock valued at $33,000 after acquiring an additional 31 shares during the last quarter. Tsfg LLC purchased a new position in Hubbell in the first quarter worth approximately $30,000. Finally, Johnson Financial Group Inc. increased its stake in Hubbell by 166.7% during the fourth quarter. Johnson Financial Group Inc. now owns 104 shares of the industrial products company’s stock worth $44,000 after acquiring an additional 65 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.