Hubbell Incorporated (NYSE:HUBB) Receives $423.13 Average PT from Brokerages

Hubbell Incorporated (NYSE:HUBB) has been assigned a consensus rating of “Moderate Buy” from the nine analysts that are presently covering the firm, Marketbeat Ratings reports. Four analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $428.13.

HUBB has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft upgraded shares of Hubbell from a “hold” rating to a “buy” rating and upped their target price for the company from $431.00 to $441.00 in a research note on Friday, September 6th. JPMorgan Chase & Co. downgraded shares of Hubbell from an “overweight” rating to a “neutral” rating and increased their price objective for the company from $385.00 to $454.00 in a research report on Thursday, October 10th. Wells Fargo & Company lifted their target price on shares of Hubbell from $400.00 to $445.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. Stephens reissued an “overweight” rating and set a $450.00 price target on shares of Hubbell in a report on Friday, August 2nd. Finally, Barclays lifted their price objective on Hubbell from $368.00 to $400.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 2nd.

Hubbell Price Performance

Shares of HUBB opened at $444.72 on Thursday. Hubbell has a twelve month low of $248.37 and a twelve month high of $461.77. The company has a market capitalization of $23.88 billion, a P/E ratio of 33.16, a price-to-earnings-growth ratio of 1.67 and a beta of 0.90. The firm has a 50 day moving average of $413.15 and a 200 day moving average of $394.18. The company has a quick ratio of 1.13, a current ratio of 1.81 and a debt-to-equity ratio of 0.62.

Hubbell (NYSE:HUBB) last posted its earnings results on Tuesday, July 30th. The industrial products company reported $4.37 EPS for the quarter, topping analysts’ consensus estimates of $4.24 by $0.13. The business had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.48 billion. Hubbell had a return on equity of 28.98% and a net margin of 13.14%. The company’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter last year, the company earned $4.07 EPS. As a group, equities research analysts anticipate that Hubbell will post 16.41 earnings per share for the current fiscal year.

Hubbell Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 30th were given a dividend of $1.22 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $4.88 annualized dividend and a yield of 1.10%. Hubbell’s dividend payout ratio (DPR) is presently 36.39%.

Insiders Place Their Bets

In other Hubbell news, Director Carlos M. Cardoso sold 450 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $364.54, for a total transaction of $164,043.00. Following the sale, the director now owns 1,670 shares in the company, valued at approximately $608,781.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Gerben Bakker sold 15,677 shares of the business’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $374.34, for a total value of $5,868,528.18. Following the transaction, the chief executive officer now directly owns 66,415 shares in the company, valued at $24,861,791.10. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Carlos M. Cardoso sold 450 shares of Hubbell stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $364.54, for a total value of $164,043.00. Following the sale, the director now directly owns 1,670 shares in the company, valued at $608,781.80. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.66% of the company’s stock.

Institutional Investors Weigh In On Hubbell

Several institutional investors and hedge funds have recently modified their holdings of the stock. OLD National Bancorp IN grew its stake 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 acquiring an additional 22 shares in the last quarter. CWM LLC grew its position in shares of Hubbell by 2.2% during the second quarter. CWM LLC now owns 1,319 shares of the industrial products company’s stock valued at $482,000 after purchasing an additional 28 shares in the last quarter. Meeder Advisory Services Inc. increased its holdings in shares of Hubbell by 3.8% in the first quarter. Meeder Advisory Services Inc. now owns 816 shares of the industrial products company’s stock worth $339,000 after purchasing an additional 30 shares during the last quarter. Detalus Advisors LLC lifted its position in shares of Hubbell by 3.0% in the second quarter. Detalus Advisors LLC now owns 1,030 shares of the industrial products company’s stock worth $377,000 after buying an additional 30 shares in the last quarter. Finally, Ballentine Partners LLC boosted its stake in Hubbell by 3.2% during the third quarter. Ballentine Partners LLC now owns 956 shares of the industrial products company’s stock valued at $410,000 after buying an additional 30 shares during the last quarter. 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.