Hubbell Incorporated (NYSE:HUBB) Receives $386.57 Consensus Target Price from Analysts

Shares of Hubbell Incorporated (NYSE:HUBB) have been assigned an average rating of “Moderate Buy” from the nine brokerages that are presently covering the stock, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $386.57.

Several analysts have issued reports on the stock. Mizuho upped their price target on shares of Hubbell from $370.00 to $450.00 and gave the company a “buy” rating in a report on Wednesday, March 20th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Hubbell in a research note on Monday, March 11th. They set a “hold” rating and a $427.00 price objective on the stock. Barclays reduced their price objective on shares of Hubbell from $400.00 to $384.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 2nd. StockNews.com lowered shares of Hubbell from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Finally, Wells Fargo & Company dropped their price target on shares of Hubbell from $435.00 to $397.00 and set an “equal weight” rating for the company in a research report on Wednesday, May 1st.

Insider Activity at Hubbell

In other news, Director Neal J. Keating purchased 500 shares of the stock in a transaction that occurred on Friday, May 3rd. The stock was acquired at an average cost of $378.77 per share, with a total value of $189,385.00. Following the acquisition, the director now owns 8,571 shares in the company, valued at $3,246,437.67. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Director Neal J. Keating purchased 500 shares of the stock in a transaction that occurred on Friday, May 3rd. The stock was acquired at an average cost of $378.77 per share, with a total value of $189,385.00. Following the acquisition, the director now owns 8,571 shares in the company, valued at $3,246,437.67. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Mark Eugene Mikes sold 1,942 shares of the stock in a transaction on Monday, May 13th. The shares were sold at an average price of $401.34, for a total transaction of $779,402.28. Following the transaction, the insider now owns 3,436 shares in the company, valued at $1,379,004.24. The disclosure for this sale can be found here. In the last three months, insiders sold 3,055 shares of company stock valued at $1,232,139. Corporate insiders own 0.78% of the company’s stock.

Institutional Trading of Hubbell

Large investors have recently modified their holdings of the company. Nvwm LLC acquired a new position in Hubbell during the 1st quarter valued at about $25,000. EverSource Wealth Advisors LLC grew its stake in shares of Hubbell by 1,850.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 78 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 74 shares during the last quarter. Lindbrook Capital LLC boosted its holdings in shares of Hubbell by 127.5% in the fourth quarter. Lindbrook Capital LLC now owns 91 shares of the industrial products company’s stock worth $30,000 after buying an additional 51 shares during the period. Baillie Gifford & Co. acquired a new position in shares of Hubbell in the fourth quarter worth about $33,000. Finally, Principal Securities Inc. acquired a new position in shares of Hubbell in the fourth quarter worth about $40,000. Institutional investors and hedge funds own 88.16% of the company’s stock.

Hubbell Stock Down 0.7 %

HUBB stock opened at $401.00 on Monday. The company has a market cap of $21.53 billion, a P/E ratio of 29.90, a P/E/G ratio of 1.54 and a beta of 0.96. Hubbell has a 52 week low of $248.37 and a 52 week high of $429.61. The company’s 50-day moving average price is $401.78 and its 200 day moving average price is $355.97. The company has a current ratio of 1.66, a quick ratio of 1.03 and a debt-to-equity ratio of 0.64.

Hubbell (NYSE:HUBB) last announced its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $3.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.54 by $0.06. Hubbell had a net margin of 13.23% and a return on equity of 29.55%. The company had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.39 billion. During the same quarter in the prior year, the firm earned $3.61 earnings per share. The company’s revenue for the quarter was up 8.8% compared to the same quarter last year. On average, research analysts expect that Hubbell will post 16.33 earnings per share for the current fiscal year.

Hubbell Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Friday, May 31st will be issued a dividend of $1.22 per share. This represents a $4.88 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date of this dividend is Friday, May 31st. Hubbell’s payout ratio is 36.39%.

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.