Hubbell (NYSE:HUBB) Hits New 1-Year Low Following Analyst Downgrade

Hubbell Incorporated (NYSE:HUBB)’s stock price reached a new 52-week low during mid-day trading on Tuesday after Barclays lowered their price target on the stock from $475.00 to $422.00. Barclays currently has an equal weight rating on the stock. Hubbell traded as low as $340.38 and last traded at $348.15, with a volume of 108378 shares changing hands. The stock had previously closed at $354.95.

Several other equities analysts also recently issued reports on the stock. Deutsche Bank Aktiengesellschaft downgraded shares of Hubbell from a “buy” rating to a “hold” rating and reduced their price target for the company from $493.00 to $473.00 in a report on Tuesday, November 26th. Wells Fargo & Company reduced their target price on shares of Hubbell from $455.00 to $450.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 7th. Sanford C. Bernstein started coverage on shares of Hubbell in a research note on Tuesday, November 5th. They issued an “outperform” rating and a $535.00 price target on the stock. Finally, StockNews.com raised Hubbell from a “hold” rating to a “buy” rating in a report on Monday, February 17th. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $464.88.

Insider Activity at Hubbell

In related news, insider Alyssa R. Flynn sold 1,164 shares of the firm’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $389.06, for a total transaction of $452,865.84. Following the completion of the transaction, the insider now owns 4,327 shares of the company’s stock, valued at $1,683,462.62. This trade represents a 21.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.66% of the company’s stock.

Institutional Investors Weigh In On Hubbell

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Mizuho Securities USA LLC raised its holdings in shares of Hubbell by 192,421.1% in 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 in the last quarter. Norges Bank acquired a new position in Hubbell in the fourth quarter worth approximately $195,218,000. Impax Asset Management Group plc grew its position in Hubbell by 30.3% in the third quarter. Impax Asset Management Group plc now owns 1,202,455 shares of the industrial products company’s stock worth $514,377,000 after buying an additional 279,654 shares during the last quarter. Marshall Wace LLP increased its holdings in shares of Hubbell by 418.1% in the fourth quarter. Marshall Wace LLP now owns 307,050 shares of the industrial products company’s stock valued at $128,620,000 after buying an additional 247,786 shares in the last quarter. Finally, Bain Capital Public Equity Management II LLC acquired a new stake in shares of Hubbell during the 4th quarter valued at $95,868,000. 88.16% of the stock is owned by institutional investors and hedge funds.

Hubbell Trading Down 1.1 %

The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.98 and a current ratio of 1.64. The firm has a market capitalization of $18.84 billion, a P/E ratio of 24.45, a price-to-earnings-growth ratio of 1.34 and a beta of 0.95. The firm has a 50 day moving average price of $410.71 and a two-hundred day moving average price of $423.96.

Hubbell (NYSE:HUBB) last released its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $4.10 earnings per share for the quarter, beating analysts’ consensus estimates of $4.02 by $0.08. The business had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.41 billion. Hubbell had a return on equity of 28.62% and a net margin of 13.82%. Hubbell’s revenue for the quarter was down .9% on a year-over-year basis. During the same quarter last year, the company posted $3.69 EPS. On average, equities research analysts expect that Hubbell Incorporated will post 17.63 EPS for the current fiscal year.

Hubbell Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be given a $1.32 dividend. This represents a $5.28 annualized dividend and a dividend yield of 1.50%. The ex-dividend date is Friday, February 28th. Hubbell’s dividend payout ratio (DPR) is currently 36.77%.

Hubbell announced that its Board of Directors has approved a stock buyback plan on Wednesday, February 12th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the industrial products company to reacquire up to 2.4% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its shares are undervalued.

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.