Hubbell Incorporated (NYSE:HUBB) Given Consensus Rating of “Hold” by Brokerages

Hubbell Incorporated (NYSE:HUBB) has been given an average rating of “Hold” by the eight analysts that are currently covering the stock, Marketbeat.com reports. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $464.88.

A number of analysts have recently weighed in on HUBB shares. Wells Fargo & Company lowered their price target on shares of Hubbell from $455.00 to $450.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft lowered shares of Hubbell from a “buy” rating to a “hold” rating and decreased their price objective for the company from $493.00 to $473.00 in a research report on Tuesday, November 26th. Barclays decreased their price objective on shares of Hubbell from $475.00 to $422.00 and set an “equal weight” rating for the company in a research report on Monday, March 3rd. Finally, StockNews.com raised shares of Hubbell from a “hold” rating to a “buy” rating in a research report on Monday, February 17th.

Insider Transactions at Hubbell

In related news, insider Alyssa R. Flynn sold 1,164 shares of Hubbell stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $389.06, for a total value of $452,865.84. Following the sale, the insider now owns 4,327 shares of the company’s stock, valued at approximately $1,683,462.62. This trade represents a 21.20 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.78% of the company’s stock.

Institutional Investors Weigh In On Hubbell

A number of institutional investors have recently added to or reduced their stakes in the stock. California State Teachers Retirement System grew its stake in Hubbell by 1.2% in the 4th quarter. California State Teachers Retirement System now owns 81,619 shares of the industrial products company’s stock valued at $34,189,000 after acquiring an additional 980 shares during the period. Siemens Fonds Invest GmbH grew its stake in Hubbell by 2,390.4% in the 4th quarter. Siemens Fonds Invest GmbH now owns 14,021 shares of the industrial products company’s stock valued at $5,873,000 after acquiring an additional 13,458 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Hubbell in the 4th quarter valued at $13,908,000. Great Valley Advisor Group Inc. boosted its stake in Hubbell by 8.1% during the 4th quarter. Great Valley Advisor Group Inc. now owns 11,215 shares of the industrial products company’s stock worth $4,698,000 after purchasing an additional 836 shares during the last quarter. Finally, Challenger Wealth Management acquired a new stake in Hubbell during the 4th quarter worth $293,000. Institutional investors and hedge funds own 88.16% of the company’s stock.

Hubbell Stock Down 0.3 %

NYSE:HUBB opened at $338.08 on Friday. Hubbell has a fifty-two week low of $330.32 and a fifty-two week high of $481.35. The stock has a market capitalization of $18.14 billion, a P/E ratio of 23.54, a P/E/G ratio of 1.34 and a beta of 0.95. 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 company’s 50-day simple moving average is $388.41 and its 200-day simple moving average is $419.73.

Hubbell (NYSE:HUBB) last released its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $4.10 earnings per share for the quarter, beating analysts’ consensus estimates of $4.02 by $0.08. Hubbell had a net margin of 13.82% and a return on equity of 28.62%. The business had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.41 billion. During the same period last year, the business earned $3.69 EPS. The company’s revenue was down .9% compared to the same quarter last year. On average, equities analysts anticipate that Hubbell will post 17.63 earnings per share for the current fiscal year.

Hubbell Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, February 28th were given a dividend of $1.32 per share. This represents a $5.28 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date of this dividend was Friday, February 28th. Hubbell’s dividend payout ratio is presently 36.77%.

Hubbell announced that its Board of Directors has approved a share repurchase program on Wednesday, February 12th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the industrial products company to reacquire up to 2.4% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

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.