Brokerages Set Hubbell Incorporated (NYSE:HUBB) Price Target at $445.56

Shares of Hubbell Incorporated (NYSE:HUBB) have earned a consensus recommendation of “Moderate Buy” from the nine analysts that are presently covering the stock, MarketBeat.com reports. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $445.56.

Several equities analysts have issued reports on HUBB shares. Morgan Stanley increased their price objective on shares of Hubbell from $407.00 to $445.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. lowered shares of Hubbell from an “overweight” rating to a “neutral” rating and raised their price target for the company from $385.00 to $454.00 in a research note on Thursday, October 10th. Sanford C. Bernstein began 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. StockNews.com raised Hubbell from a “hold” rating to a “buy” rating in a report on Tuesday, November 5th. Finally, Mizuho lifted their price target on Hubbell from $450.00 to $490.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th.

Hubbell Price Performance

Shares of HUBB opened at $453.79 on Monday. The company has a market capitalization of $24.36 billion, a P/E ratio of 32.69, a P/E/G ratio of 1.68 and a beta of 0.90. The business’s 50-day moving average is $432.35 and its two-hundred day moving average is $399.10. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.05 and a current ratio of 1.66. Hubbell has a fifty-two week low of $287.06 and a fifty-two week high of $481.35.

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

Hubbell Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be paid a dividend of $1.32 per share. This represents a $5.28 annualized dividend and a yield of 1.16%. This is a boost from Hubbell’s previous quarterly dividend of $1.22. The ex-dividend date is Friday, November 29th. Hubbell’s payout ratio is presently 38.04%.

Insider Transactions at Hubbell

In other news, insider Mark Eugene Mikes sold 1,144 shares of the firm’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $466.20, for a total value of $533,332.80. Following the sale, the insider now directly owns 2,957 shares in the company, valued at approximately $1,378,553.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.66% of the company’s stock.

Institutional Investors Weigh In On Hubbell

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Mizuho Securities USA LLC boosted its stake 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 purchasing an additional 7,975,855 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Hubbell by 16.7% during the second quarter. Bank of New York Mellon Corp now owns 2,035,596 shares of the industrial products company’s stock worth $743,970,000 after buying an additional 291,850 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in shares of Hubbell by 16.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,980,456 shares of the industrial products company’s stock worth $821,989,000 after buying an additional 286,134 shares during the last quarter. International Assets Investment Management LLC increased its position in Hubbell by 42,735.0% in the 3rd quarter. International Assets Investment Management LLC now owns 1,919,865 shares of the industrial products company’s stock valued at $8,223,740,000 after acquiring an additional 1,915,383 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its stake in Hubbell by 6.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,417,476 shares of the industrial products company’s stock valued at $607,176,000 after acquiring an additional 82,258 shares during the last quarter. 88.16% of the stock is currently owned by institutional investors and hedge funds.

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.