Hubbell Incorporated (NYSE:HUBB) Receives Consensus Recommendation of “Hold” from Brokerages

Hubbell Incorporated (NYSE:HUBB) has received an average rating of “Hold” from the nine analysts that are covering the stock, MarketBeat.com reports. Five investment analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $457.22.

Several research firms have recently commented on HUBB. StockNews.com lowered shares of Hubbell from a “buy” rating to a “hold” rating in a report on Tuesday. Barclays lifted their price target on shares of Hubbell from $402.00 to $475.00 and gave the company an “equal weight” rating in a report on Thursday. Mizuho lifted their price target on shares of Hubbell from $450.00 to $490.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Morgan Stanley lifted their price target 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. Finally, Sanford C. Bernstein initiated coverage on shares of Hubbell in a report on Tuesday, November 5th. They issued an “outperform” rating and a $535.00 price target for the company.

Hubbell Price Performance

HUBB opened at $466.76 on Friday. The company has a fifty day simple moving average of $448.62 and a 200 day simple moving average of $406.07. The firm has a market cap of $25.05 billion, a price-to-earnings ratio of 33.63, a PEG ratio of 1.70 and a beta of 0.91. Hubbell has a twelve month low of $300.54 and a twelve month 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.

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

Hubbell Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be issued a $1.32 dividend. This is an increase from Hubbell’s previous quarterly dividend of $1.22. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date is Friday, November 29th. Hubbell’s payout ratio is presently 38.04%.

Insider Buying and Selling

In other news, insider Mark Eugene Mikes sold 1,144 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $466.20, for a total transaction of $533,332.80. Following the sale, the insider now owns 2,957 shares in the company, valued at $1,378,553.40. The trade was a 27.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.66% of the company’s stock.

Institutional Investors Weigh In On Hubbell

Large investors have recently made changes to their positions in the company. Prospera Private Wealth LLC purchased a new position in Hubbell during the third quarter valued at approximately $33,000. Ashton Thomas Securities LLC bought a new stake in Hubbell in the third quarter worth approximately $41,000. Quarry LP bought a new stake in Hubbell in the second quarter worth approximately $49,000. Northwest Investment Counselors LLC bought a new stake in Hubbell in the third quarter worth approximately $58,000. Finally, GAMMA Investing LLC grew its position in Hubbell by 84.7% in the third quarter. GAMMA Investing LLC now owns 157 shares of the industrial products company’s stock worth $67,000 after acquiring an additional 72 shares in the last quarter. Institutional investors and hedge funds own 88.16% of the company’s stock.

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.