Hubbell Incorporated (NYSE:HUBB) Receives $383.57 Average Price Target from Analysts

Hubbell Incorporated (NYSE:HUBB) has been given a consensus recommendation of “Moderate Buy” by the nine research firms that are currently covering the company, Marketbeat.com reports. Four investment analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $388.86.

A number of equities research analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft assumed coverage on Hubbell in a report on Monday, March 11th. They set a “hold” rating and a $427.00 target price for the company. StockNews.com downgraded shares of Hubbell from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Wells Fargo & Company lowered their target price on shares of Hubbell from $435.00 to $397.00 and set an “equal weight” rating on the stock in a report on Wednesday. Barclays lifted their price target on shares of Hubbell from $340.00 to $400.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 2nd. Finally, Mizuho increased their price target on Hubbell from $370.00 to $450.00 and gave the stock a “buy” rating in a research report on Wednesday, March 20th.

Hubbell Stock Performance

NYSE HUBB opened at $373.30 on Thursday. The stock has a market cap of $20.02 billion, a PE ratio of 26.57, a P/E/G ratio of 2.48 and a beta of 0.94. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.01 and a current ratio of 1.64. The firm has a 50-day moving average of $397.61 and a 200-day moving average of $344.52. Hubbell has a 52-week low of $248.37 and a 52-week high of $429.61.

Hubbell (NYSE:HUBB) last issued its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $3.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.54 by $0.06. The firm had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.39 billion. Hubbell had a net margin of 14.14% and a return on equity of 30.82%. The business’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same period last year, the business posted $3.61 earnings per share. On average, sell-side analysts anticipate that Hubbell will post 16.43 EPS for the current year.

Hubbell Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Friday, May 31st will be paid a dividend of $1.22 per share. This represents a $4.88 annualized dividend and a yield of 1.31%. The ex-dividend date is Thursday, May 30th. Hubbell’s payout ratio is presently 34.73%.

Insider Activity

In related news, VP Nero Jonathan M. Del sold 1,098 shares of the company’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $352.74, for a total transaction of $387,308.52. Following the completion of the sale, the vice president now directly owns 3,646 shares in the company, valued at approximately $1,286,090.04. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, VP Nero Jonathan M. Del sold 1,098 shares of the stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $352.74, for a total value of $387,308.52. Following the completion of the transaction, the vice president now owns 3,646 shares of the company’s stock, valued at approximately $1,286,090.04. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Gerben Bakker sold 13,355 shares of the business’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $353.13, for a total transaction of $4,716,051.15. Following the sale, the chief executive officer now directly owns 51,783 shares in the company, valued at approximately $18,286,130.79. The disclosure for this sale can be found here. In the last quarter, insiders have sold 34,125 shares of company stock worth $12,065,100. Insiders own 0.78% of the company’s stock.

Hedge Funds Weigh In On Hubbell

Several large investors have recently bought and sold shares of the company. EverSource Wealth Advisors LLC increased its stake in shares of Hubbell by 1,850.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 78 shares of the industrial products company’s stock valued at $26,000 after buying an additional 74 shares during the period. Lindbrook Capital LLC increased its position in Hubbell by 127.5% in the 4th quarter. Lindbrook Capital LLC now owns 91 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 51 shares during the period. Baillie Gifford & Co. bought a new position in shares of Hubbell during the fourth quarter valued at $33,000. Principal Securities Inc. acquired a new position in shares of Hubbell during the fourth quarter worth $40,000. Finally, Riverview Trust Co bought a new stake in shares of Hubbell in the first quarter worth $52,000. 88.16% of the stock is currently owned by institutional investors.

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.