Brokerages Set Hubbell Incorporated (NYSE:HUBB) Target Price at $386.57

Hubbell Incorporated (NYSE:HUBB) has received a consensus rating of “Moderate Buy” from the nine research firms that are presently covering the company, MarketBeat.com reports. Four investment analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $386.57.

Several brokerages have recently issued reports on HUBB. Barclays lowered their price target on Hubbell from $400.00 to $384.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 2nd. Wells Fargo & Company dropped their price target on shares of Hubbell from $435.00 to $397.00 and set an “equal weight” rating on the stock in a research report on Wednesday, May 1st. Finally, Mizuho raised their price objective on shares of Hubbell from $370.00 to $450.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th.

Hubbell Stock Performance

HUBB stock opened at $374.60 on Tuesday. The company has a 50-day simple moving average of $384.71 and a 200 day simple moving average of $376.06. The company has a market capitalization of $20.11 billion, a P/E ratio of 27.95, a PEG ratio of 1.41 and a beta of 0.90. The company has a quick ratio of 1.03, a current ratio of 1.66 and a debt-to-equity ratio of 0.64. Hubbell has a fifty-two week low of $248.37 and a fifty-two week high of $429.61.

Hubbell (NYSE:HUBB) last issued its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $3.60 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $1.39 billion. During the same period in the prior year, the business posted $3.61 EPS. The business’s revenue for the quarter was up 8.8% compared to the same quarter last year. Sell-side analysts predict that Hubbell will post 16.33 earnings per share for the current fiscal year.

Hubbell Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Friday, May 31st were given a $1.22 dividend. This represents a $4.88 annualized dividend and a dividend yield of 1.30%. The ex-dividend date was Friday, May 31st. Hubbell’s dividend payout ratio (DPR) is currently 36.39%.

Insider Activity at Hubbell

In other news, insider Alyssa R. Flynn sold 1,106 shares of Hubbell stock in a transaction on Friday, May 10th. The stock was sold at an average price of $406.79, for a total transaction of $449,909.74. Following the transaction, the insider now owns 4,234 shares in the company, valued at $1,722,348.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Alyssa R. Flynn sold 1,106 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $406.79, for a total transaction of $449,909.74. Following the completion of the sale, the insider now directly owns 4,234 shares in the company, valued at $1,722,348.86. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Neal J. Keating acquired 500 shares of the stock in a transaction that occurred on Friday, May 3rd. The shares were bought at an average cost of $378.77 per share, for a total transaction of $189,385.00. Following the completion of the transaction, the director now directly owns 8,571 shares of the company’s stock, valued at approximately $3,246,437.67. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 3,055 shares of company stock worth $1,232,139. 0.66% of the stock is owned by corporate insiders.

Institutional Trading of Hubbell

Several hedge funds and other institutional investors have recently modified their holdings of the company. CWM LLC increased its stake in shares of Hubbell by 2.2% during the 2nd quarter. CWM LLC now owns 1,319 shares of the industrial products company’s stock worth $482,000 after purchasing an additional 28 shares during the last quarter. Meeder Advisory Services Inc. increased its position in Hubbell by 3.8% during the first quarter. Meeder Advisory Services Inc. now owns 816 shares of the industrial products company’s stock worth $339,000 after buying an additional 30 shares during the last quarter. Massmutual Trust Co. FSB ADV raised its holdings in Hubbell by 23.5% during the second quarter. Massmutual Trust Co. FSB ADV now owns 184 shares of the industrial products company’s stock valued at $67,000 after buying an additional 35 shares in the last quarter. Xponance Inc. lifted its position in shares of Hubbell by 0.4% in the fourth quarter. Xponance Inc. now owns 9,140 shares of the industrial products company’s stock worth $3,006,000 after buying an additional 36 shares during the last quarter. Finally, Tectonic Advisors LLC boosted its stake in shares of Hubbell by 4.0% during the 1st quarter. Tectonic Advisors LLC now owns 946 shares of the industrial products company’s stock worth $393,000 after acquiring an additional 36 shares in the last quarter. 88.16% of the stock is currently owned by hedge funds and other institutional investors.

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.