Brokerages Set Hubbell Incorporated (NYSE:HUBB) Target Price at $457.22

Hubbell Incorporated (NYSE:HUBB) has received an average rating of “Hold” from the eight research firms that are covering the stock, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $472.13.

HUBB has been the subject of a number of analyst reports. Mizuho raised their price target on shares of Hubbell from $450.00 to $490.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Wells Fargo & Company boosted their price target on Hubbell from $445.00 to $455.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft lowered Hubbell from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $493.00 to $473.00 in a research note on Tuesday, November 26th. JPMorgan Chase & Co. downgraded shares of Hubbell from an “overweight” rating to a “neutral” rating and boosted their target price for the company from $385.00 to $454.00 in a research note on Thursday, October 10th. Finally, Sanford C. Bernstein started coverage on shares of Hubbell in a research report on Tuesday, November 5th. They set an “outperform” rating and a $535.00 target price for the company.

Insider Activity

In other Hubbell news, insider Mark Eugene Mikes sold 1,144 shares of the firm’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $466.20, for a total transaction of $533,332.80. Following the transaction, the insider now owns 2,957 shares in the company, valued at approximately $1,378,553.40. This trade represents a 27.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.66% of the stock is owned by insiders.

Hedge Funds Weigh In On Hubbell

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Groupama Asset Managment lifted its holdings in shares of Hubbell by 17.0% in the third quarter. Groupama Asset Managment now owns 6,955 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 1,010 shares in the last quarter. Prospera Private Wealth LLC acquired a new position in Hubbell during the 3rd quarter worth approximately $33,000. Ashton Thomas Securities LLC bought a new position in shares of Hubbell during the 3rd quarter worth approximately $41,000. Quarry LP acquired a new stake in shares of Hubbell in the second quarter valued at approximately $49,000. Finally, Northwest Investment Counselors LLC bought a new stake in shares of Hubbell in the third quarter worth $58,000. 88.16% of the stock is owned by institutional investors.

Hubbell Stock Performance

NYSE:HUBB opened at $461.97 on Friday. The firm has a market capitalization of $24.79 billion, a PE ratio of 33.28, a PEG ratio of 1.75 and a beta of 0.91. Hubbell has a 1 year low of $303.06 and a 1 year high of $481.35. The company has a current ratio of 1.66, a quick ratio of 1.05 and a debt-to-equity ratio of 0.51. The firm’s fifty day simple moving average is $449.29 and its 200 day simple moving average is $406.57.

Hubbell (NYSE:HUBB) last issued its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $4.49 EPS for the quarter, topping the consensus estimate of $4.47 by $0.02. Hubbell had a return on equity of 28.81% and a net margin of 13.33%. The company had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.48 billion. During the same period in the previous year, the business posted $3.95 EPS. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. On average, sell-side analysts anticipate that Hubbell will post 16.47 EPS for the current year.

Hubbell Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be given a $1.32 dividend. This represents a $5.28 annualized dividend and a yield of 1.14%. The ex-dividend date is Friday, November 29th. This is a boost from Hubbell’s previous quarterly dividend of $1.22. Hubbell’s dividend payout ratio (DPR) is presently 38.04%.

About Hubbell

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.