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

Shares of Hubbell Incorporated (NYSE:HUBB) have been given an average rating of “Hold” by the eight ratings firms that are covering the company, MarketBeat Ratings reports. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $472.13.

Several research analysts have recently issued reports on HUBB shares. JPMorgan Chase & Co. cut shares of Hubbell from an “overweight” rating to a “neutral” rating and upped their target price for the company from $385.00 to $454.00 in a report on Thursday, October 10th. StockNews.com lowered shares of Hubbell from a “buy” rating to a “hold” rating in a report on Tuesday, December 3rd. 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 report on Thursday, October 17th. Morgan Stanley raised their target price on Hubbell from $407.00 to $445.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Finally, Barclays boosted their price target on shares of Hubbell from $402.00 to $475.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 5th.

Hubbell Stock Down 0.9 %

Shares of NYSE HUBB opened at $419.19 on Tuesday. The company’s 50-day simple moving average is $447.23 and its 200-day simple moving average is $412.43. Hubbell has a 52-week low of $315.38 and a 52-week high of $481.35. The firm has a market cap of $22.50 billion, a price-to-earnings ratio of 30.20, a price-to-earnings-growth ratio of 1.70 and a beta of 0.91. The company has a quick ratio of 1.05, a current ratio of 1.66 and a debt-to-equity ratio of 0.51.

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

Hubbell Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were issued a $1.32 dividend. This is a boost from Hubbell’s previous quarterly dividend of $1.22. This represents a $5.28 annualized dividend and a yield of 1.26%. The ex-dividend date was Friday, November 29th. Hubbell’s dividend payout ratio is currently 38.04%.

Insiders Place Their Bets

In other news, insider Mark Eugene Mikes sold 1,144 shares of the business’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $466.20, for a total value of $533,332.80. Following the completion of the sale, the insider now owns 2,957 shares of the company’s stock, valued at approximately $1,378,553.40. The trade was a 27.90 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.66% of the company’s stock.

Institutional Trading of Hubbell

Hedge funds and other institutional investors have recently bought and sold shares of the business. OLD National Bancorp IN raised its holdings in Hubbell by 3.8% in the 3rd quarter. OLD National Bancorp IN now owns 596 shares of the industrial products company’s stock valued at $255,000 after acquiring an additional 22 shares in the last quarter. Avestar Capital LLC grew its position in Hubbell by 5.1% in the third quarter. Avestar Capital LLC now owns 577 shares of the industrial products company’s stock valued at $247,000 after acquiring an additional 28 shares during the last quarter. Ballentine Partners LLC boosted its holdings in Hubbell by 3.2% in the third quarter. Ballentine Partners LLC now owns 956 shares of the industrial products company’s stock worth $410,000 after acquiring an additional 30 shares in the last quarter. Savant Capital LLC boosted its holdings in Hubbell by 2.6% during the 2nd quarter. Savant Capital LLC now owns 1,205 shares of the industrial products company’s stock worth $440,000 after acquiring an additional 31 shares during the last quarter. Finally, Catalyst Financial Partners LLC boosted its stake in Hubbell by 4.6% in the third quarter. Catalyst Financial Partners LLC now owns 701 shares of the industrial products company’s stock valued at $300,000 after acquiring an additional 31 shares during the last quarter. Institutional investors and hedge funds own 88.16% of the company’s stock.

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.