Brokerages Set Hubbell Incorporated (NYSE:HUBB) PT at $449.38

Hubbell Incorporated (NYSE:HUBB) has been given a consensus recommendation of “Hold” by the eight analysts that are currently covering the company, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $449.38.

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

Insider Buying and Selling at Hubbell

In other news, insider Alyssa R. Flynn sold 1,164 shares of the company’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $389.06, for a total transaction of $452,865.84. Following the completion of the transaction, the insider now directly owns 4,327 shares of the company’s stock, valued at approximately $1,683,462.62. This represents a 21.20% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.66% of the company’s stock.

Institutional Investors Weigh In On Hubbell

Institutional investors have recently added to or reduced their stakes in the business. MassMutual Private Wealth & Trust FSB raised its holdings in Hubbell by 12.3% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 228 shares of the industrial products company’s stock worth $96,000 after purchasing an additional 25 shares in the last quarter. JGP Wealth Management LLC raised its stake in Hubbell by 1.2% during the 4th quarter. JGP Wealth Management LLC now owns 2,110 shares of the industrial products company’s stock worth $884,000 after acquiring an additional 26 shares in the last quarter. Huntington National Bank lifted its position in Hubbell by 3.0% in the fourth quarter. Huntington National Bank now owns 886 shares of the industrial products company’s stock valued at $371,000 after acquiring an additional 26 shares during the last quarter. Nissay Asset Management Corp Japan ADV boosted its stake in Hubbell by 0.4% in the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 6,515 shares of the industrial products company’s stock valued at $2,757,000 after acquiring an additional 26 shares in the last quarter. Finally, Sanctuary Advisors LLC grew its holdings in shares of Hubbell by 0.5% during the fourth quarter. Sanctuary Advisors LLC now owns 5,422 shares of the industrial products company’s stock worth $2,313,000 after purchasing an additional 27 shares during the last quarter. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Hubbell Stock Up 0.6%

Hubbell stock opened at $356.66 on Monday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.98 and a current ratio of 1.64. The firm has a 50 day moving average price of $343.12 and a 200 day moving average price of $398.64. Hubbell has a fifty-two week low of $299.43 and a fifty-two week high of $481.35. The company has a market capitalization of $19.14 billion, a PE ratio of 24.84, a price-to-earnings-growth ratio of 1.34 and a beta of 0.97.

Hubbell (NYSE:HUBB) last issued its quarterly earnings data on Thursday, May 1st. The industrial products company reported $3.50 earnings per share for the quarter, missing analysts’ consensus estimates of $3.73 by ($0.23). Hubbell had a net margin of 13.82% and a return on equity of 28.62%. The firm had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.39 billion. During the same period in the previous year, the firm posted $3.60 earnings per share. The company’s quarterly revenue was down 2.4% compared to the same quarter last year. Research analysts expect that Hubbell will post 17.63 earnings per share for the current year.

Hubbell declared that its board has approved a stock repurchase program on Wednesday, February 12th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the industrial products company to reacquire up to 2.4% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

Hubbell Dividend Announcement

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

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.