Hubbell (NYSE:HUBB) Reaches New 1-Year Low on Analyst Downgrade

Shares of Hubbell Incorporated (NYSE:HUBB) reached a new 52-week low during mid-day trading on Tuesday after Barclays lowered their price target on the stock from $475.00 to $422.00. Barclays currently has an equal weight rating on the stock. Hubbell traded as low as $340.38 and last traded at $348.15, with a volume of 108378 shares changing hands. The stock had previously closed at $354.95.

HUBB has been the subject of a number of other research reports. Sanford C. Bernstein initiated coverage on Hubbell in a research note on Tuesday, November 5th. They set an “outperform” rating and a $535.00 price objective for the company. Wells Fargo & Company decreased their target price on shares of Hubbell from $455.00 to $450.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 7th. StockNews.com raised Hubbell from a “hold” rating to a “buy” rating in a research report on Monday, February 17th. Finally, Deutsche Bank Aktiengesellschaft cut Hubbell from a “buy” rating to a “hold” rating and decreased their price target for the company from $493.00 to $473.00 in a report on Tuesday, November 26th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $464.88.

Insider Buying and Selling at Hubbell

In other news, insider Alyssa R. Flynn sold 1,164 shares of the firm’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $389.06, for a total transaction of $452,865.84. Following the transaction, the insider now owns 4,327 shares in the company, valued at approximately $1,683,462.62. This trade represents a 21.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.66% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Hubbell

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Creative Financial Designs Inc. ADV raised its holdings in shares of Hubbell by 85.7% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 65 shares of the industrial products company’s stock worth $27,000 after buying an additional 30 shares during the last quarter. Groupama Asset Managment increased its position in shares of Hubbell by 17.0% in the 3rd quarter. Groupama Asset Managment now owns 6,955 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 1,010 shares during the period. Stonebridge Financial Group LLC purchased a new position in Hubbell in the 4th quarter worth $30,000. Prospera Private Wealth LLC acquired a new stake in Hubbell during the 3rd quarter worth about $33,000. Finally, Versant Capital Management Inc grew its stake in Hubbell by 64.6% during the 4th quarter. Versant Capital Management Inc now owns 79 shares of the industrial products company’s stock valued at $33,000 after purchasing an additional 31 shares during the last quarter. 88.16% of the stock is owned by hedge funds and other institutional investors.

Hubbell Stock Down 1.9 %

The firm has a market capitalization of $18.68 billion, a price-to-earnings ratio of 24.17, a price-to-earnings-growth ratio of 1.34 and a beta of 0.95. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.64 and a quick ratio of 0.98. The business has a fifty day moving average price of $412.33 and a two-hundred day moving average price of $424.12.

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

Hubbell Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Friday, February 28th will be issued a $1.32 dividend. This represents a $5.28 annualized dividend and a yield of 1.52%. The ex-dividend date of this dividend is Friday, February 28th. Hubbell’s payout ratio is 36.77%.

Hubbell declared that its board has approved a stock buyback plan on Wednesday, February 12th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the industrial products company to purchase up to 2.4% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board 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.