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

Shares of Hubbell Incorporated (NYSE:HUBB) have received an average recommendation of “Hold” from the eight brokerages that are currently covering the stock, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $472.13.

A number of brokerages recently commented on HUBB. Barclays increased their price target on Hubbell from $402.00 to $475.00 and gave the company an “equal weight” rating in a report on Thursday, December 5th. JPMorgan Chase & Co. cut Hubbell from an “overweight” rating to a “neutral” rating and increased their target price for the company from $385.00 to $454.00 in a research note on Thursday, October 10th. Mizuho lifted their price target on shares of Hubbell from $450.00 to $490.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. StockNews.com downgraded shares of Hubbell from a “buy” rating to a “hold” rating in a research note on Tuesday, December 3rd. Finally, Sanford C. Bernstein assumed coverage on shares of Hubbell in a research report on Tuesday, November 5th. They issued an “outperform” rating and a $535.00 target price for the company.

Insider Transactions at Hubbell

In related news, insider Mark Eugene Mikes sold 1,144 shares of the company’s stock in a transaction on Thursday, November 7th. The stock was 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 directly owns 2,957 shares in the company, valued at $1,378,553.40. This represents a 27.90 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.78% of the company’s stock.

Hedge Funds Weigh In On Hubbell

Several hedge funds and other institutional investors have recently modified their holdings of the company. Oddo BHF Asset Management Sas bought a new stake in Hubbell in the 3rd quarter valued at about $413,000. Franklin Resources Inc. raised its holdings in shares of Hubbell by 32.7% during the third quarter. Franklin Resources Inc. now owns 99,405 shares of the industrial products company’s stock valued at $45,776,000 after buying an additional 24,486 shares during the last quarter. Tidal Investments LLC raised its holdings in shares of Hubbell by 8.5% during the third quarter. Tidal Investments LLC now owns 2,358 shares of the industrial products company’s stock valued at $1,010,000 after buying an additional 184 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of Hubbell during the third quarter worth approximately $247,000. Finally, M&T Bank Corp grew its holdings in Hubbell by 0.5% in the 3rd quarter. M&T Bank Corp now owns 26,242 shares of the industrial products company’s stock worth $11,241,000 after buying an additional 124 shares in the last quarter. Institutional investors and hedge funds own 88.16% of the company’s stock.

Hubbell Trading Down 0.8 %

HUBB opened at $448.60 on Friday. The firm’s 50 day moving average is $450.21 and its 200-day moving average is $407.19. Hubbell has a 52-week low of $306.92 and a 52-week high of $481.35. The company has a quick ratio of 1.05, a current ratio of 1.66 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $24.08 billion, a P/E ratio of 32.32, a P/E/G ratio of 1.72 and a beta of 0.91.

Hubbell (NYSE:HUBB) last released its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $4.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.47 by $0.02. The firm had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.48 billion. Hubbell had a net margin of 13.33% and a return on equity of 28.81%. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.95 EPS. Analysts expect that Hubbell will post 16.47 EPS for the current fiscal year.

Hubbell Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be issued a dividend of $1.32 per share. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.18%. This is a boost from Hubbell’s previous quarterly dividend of $1.22. The ex-dividend date is Friday, November 29th. Hubbell’s dividend payout ratio is 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.