Analysts Set Hubbell Incorporated (NYSE:HUBB) Target Price at $472.13

Shares of Hubbell Incorporated (NYSE:HUBB) have earned a consensus recommendation of “Hold” from the eight analysts that are currently covering the stock, MarketBeat reports. Five research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $472.13.

A number of research firms recently issued reports on HUBB. Mizuho boosted their price objective on Hubbell from $450.00 to $490.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Barclays upped their price target on shares of Hubbell from $402.00 to $475.00 and gave the stock an “equal weight” rating in a report on Thursday, December 5th. Deutsche Bank Aktiengesellschaft lowered shares of Hubbell from a “buy” rating to a “hold” rating and decreased their price objective for the company from $493.00 to $473.00 in a report on Tuesday, November 26th. Wells Fargo & Company upped their target price on shares of Hubbell from $445.00 to $455.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Finally, JPMorgan Chase & Co. downgraded Hubbell from an “overweight” rating to a “neutral” rating and raised their price objective for the stock from $385.00 to $454.00 in a report on Thursday, October 10th.

Insider Transactions at Hubbell

In other Hubbell news, insider Mark Eugene Mikes sold 1,144 shares of the firm’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $466.20, for a total value of $533,332.80. Following the completion of the transaction, the insider now owns 2,957 shares of the company’s stock, valued at approximately $1,378,553.40. This trade represents a 27.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.66% of the company’s stock.

Hedge Funds Weigh In On Hubbell

Several hedge funds have recently made changes to their positions in the company. Prospera Private Wealth LLC purchased a new position in shares of Hubbell in the third quarter worth about $33,000. Versant Capital Management Inc grew its position in Hubbell by 64.6% during the 4th quarter. Versant Capital Management Inc now owns 79 shares of the industrial products company’s stock worth $33,000 after purchasing an additional 31 shares during the period. Ashton Thomas Securities LLC acquired a new stake in Hubbell during the 3rd quarter worth about $41,000. Quarry LP purchased a new position in shares of Hubbell during the 2nd quarter valued at about $49,000. Finally, Northwest Investment Counselors LLC acquired a new position in shares of Hubbell in the 3rd quarter valued at about $58,000. 88.16% of the stock is owned by institutional investors and hedge funds.

Hubbell Trading Up 2.1 %

HUBB stock opened at $439.90 on Tuesday. The firm’s fifty day simple moving average is $445.05 and its two-hundred day simple moving average is $413.95. The stock has a market capitalization of $23.61 billion, a price-to-earnings ratio of 31.69, a price-to-earnings-growth ratio of 1.69 and a beta of 0.93. The company has a quick ratio of 1.05, a current ratio of 1.66 and a debt-to-equity ratio of 0.51. Hubbell has a twelve month low of $317.32 and a twelve month high of $481.35.

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

Hubbell Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were given a dividend of $1.32 per share. This represents a $5.28 annualized dividend and a dividend yield of 1.20%. This is a positive change from Hubbell’s previous quarterly dividend of $1.22. The ex-dividend date was Friday, November 29th. Hubbell’s dividend payout ratio is presently 38.04%.

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.