Hubbell (NYSE:HUBB) Price Target Lowered to $400.00 at Barclays

Hubbell (NYSE:HUBB) had its target price reduced by Barclays from $422.00 to $400.00 in a research report released on Wednesday morning,Benzinga reports. They currently have an equal weight rating on the industrial products company’s stock.

Other equities analysts also recently issued research reports about the stock. Wells Fargo & Company reduced their price objective on shares of Hubbell from $455.00 to $450.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft downgraded Hubbell from a “buy” rating to a “hold” rating and lowered their price objective for the company from $493.00 to $473.00 in a research report on Tuesday, November 26th. Finally, StockNews.com upgraded shares of Hubbell from a “hold” rating to a “buy” rating in a report on Monday, February 17th. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $462.13.

Hubbell Price Performance

Shares of NYSE:HUBB opened at $346.54 on Wednesday. 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 business’s fifty day moving average price is $383.92 and its two-hundred day moving average price is $419.27. The stock has a market cap of $18.60 billion, a PE ratio of 24.13, a price-to-earnings-growth ratio of 1.34 and a beta of 0.94. Hubbell has a one year low of $330.32 and a one year high of $481.35.

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

Hubbell declared that its board has authorized a stock buyback plan on Wednesday, February 12th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the industrial products company to reacquire up to 2.4% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Hubbell Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, February 28th were paid a dividend of $1.32 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $5.28 annualized dividend and a yield of 1.52%. Hubbell’s dividend payout ratio is currently 36.77%.

Insider Activity at Hubbell

In related news, insider Alyssa R. Flynn sold 1,164 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $389.06, for a total transaction of $452,865.84. Following the transaction, the insider now directly owns 4,327 shares of the company’s stock, valued at approximately $1,683,462.62. The trade was a 21.20 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.66% of the stock is owned by insiders.

Institutional Trading of Hubbell

A number of hedge funds have recently made changes to their positions in HUBB. Salem Investment Counselors Inc. lifted its stake in shares of Hubbell by 26.0% in the fourth quarter. Salem Investment Counselors Inc. now owns 9,144 shares of the industrial products company’s stock worth $3,830,000 after acquiring an additional 1,886 shares in the last quarter. Janney Montgomery Scott LLC raised its position in shares of Hubbell by 122.4% in the 4th quarter. Janney Montgomery Scott LLC now owns 28,723 shares of the industrial products company’s stock valued at $12,032,000 after purchasing an additional 15,806 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of Hubbell by 7.1% during the 3rd quarter. Principal Financial Group Inc. now owns 229,210 shares of the industrial products company’s stock valued at $98,187,000 after buying an additional 15,215 shares during the last quarter. Nordea Investment Management AB grew its position in shares of Hubbell by 29.6% during the fourth quarter. Nordea Investment Management AB now owns 160,630 shares of the industrial products company’s stock worth $67,503,000 after buying an additional 36,643 shares in the last quarter. Finally, SPX Gestao de Recursos Ltda bought a new stake in shares of Hubbell in the third quarter worth $9,985,000. Hedge funds and other institutional investors 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.