Hubbell Incorporated (NYSE:HUBB) Receives $472.13 Average PT from Brokerages

Hubbell Incorporated (NYSE:HUBB) has received a consensus rating of “Hold” from the eight analysts that are covering the stock, Marketbeat reports. Five analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $472.13.

HUBB has been the topic of several recent research reports. Sanford C. Bernstein assumed coverage on shares of Hubbell in a research report on Tuesday, November 5th. They set an “outperform” rating and a $535.00 target price on the stock. Deutsche Bank Aktiengesellschaft cut shares of Hubbell from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $493.00 to $473.00 in a research note on Tuesday, November 26th. Barclays raised their target price on Hubbell from $402.00 to $475.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 5th. JPMorgan Chase & Co. cut Hubbell from an “overweight” rating to a “neutral” rating and increased their price target for the company from $385.00 to $454.00 in a research note on Thursday, October 10th. Finally, Morgan Stanley raised their price objective on Hubbell from $407.00 to $445.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th.

Insider Buying and Selling at Hubbell

In other Hubbell news, insider Mark Eugene Mikes sold 1,144 shares of the business’s stock in a transaction that occurred 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 sale, the insider now directly owns 2,957 shares of the company’s stock, valued at approximately $1,378,553.40. The trade was a 27.90 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.66% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Mizuho Securities USA LLC boosted its holdings in Hubbell by 192,421.1% during the 3rd quarter. Mizuho Securities USA LLC now owns 7,980,000 shares of the industrial products company’s stock worth $3,418,233,000 after acquiring an additional 7,975,855 shares during the last quarter. State Street Corp lifted its position in shares of Hubbell by 1.1% during the third quarter. State Street Corp now owns 2,092,215 shares of the industrial products company’s stock valued at $896,200,000 after purchasing an additional 22,507 shares in the last quarter. International Assets Investment Management LLC boosted its holdings in Hubbell by 42,735.0% during the third quarter. International Assets Investment Management LLC now owns 1,919,865 shares of the industrial products company’s stock worth $8,223,740,000 after purchasing an additional 1,915,383 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in Hubbell by 6.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,417,476 shares of the industrial products company’s stock worth $607,176,000 after purchasing an additional 82,258 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in Hubbell by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,254,905 shares of the industrial products company’s stock valued at $535,681,000 after buying an additional 8,278 shares during the last quarter. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Hubbell Stock Performance

Shares of NYSE:HUBB opened at $430.96 on Tuesday. Hubbell has a 1 year low of $315.38 and a 1 year high of $481.35. The stock has a market capitalization of $23.13 billion, a price-to-earnings ratio of 31.05, a price-to-earnings-growth ratio of 1.69 and a beta of 0.93. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.66 and a quick ratio of 1.05. The company’s 50 day simple moving average is $445.25 and its 200 day simple moving average is $413.17.

Hubbell (NYSE:HUBB) last posted its earnings results on Tuesday, October 29th. The industrial products company reported $4.49 EPS for the quarter, topping analysts’ consensus estimates of $4.47 by $0.02. The firm had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.48 billion. Hubbell had a net margin of 13.33% and a return on equity of 28.81%. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.95 earnings per share. As a group, research analysts predict that Hubbell will post 16.47 EPS for the current fiscal year.

Hubbell Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 29th were issued a $1.32 dividend. This is a boost from Hubbell’s previous quarterly dividend of $1.22. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date was Friday, November 29th. Hubbell’s dividend payout ratio (DPR) is currently 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.