Barclays Issues Pessimistic Forecast for Hubbell (NYSE:HUBB) Stock Price

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

A number of other equities analysts have also recently weighed in on the stock. Wells Fargo & Company lowered their price objective on shares of Hubbell from $455.00 to $450.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 7th. StockNews.com raised Hubbell from a “hold” rating to a “buy” rating in a research report on Monday, February 17th. Finally, Deutsche Bank Aktiengesellschaft cut Hubbell from a “buy” rating to a “hold” rating and decreased their target price for the company from $493.00 to $473.00 in a research report on Tuesday, November 26th. Six analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $462.13.

Hubbell Price Performance

HUBB stock opened at $331.68 on Wednesday. Hubbell has a 52-week low of $330.32 and a 52-week high of $481.35. The business has a fifty day moving average of $379.97 and a two-hundred day moving average of $418.41. The stock has a market cap of $17.80 billion, a price-to-earnings ratio of 23.10, a price-to-earnings-growth ratio of 1.34 and a beta of 0.94. The company has a quick ratio of 0.98, a current ratio of 1.64 and a debt-to-equity ratio of 0.44.

Hubbell (NYSE:HUBB) last issued its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $4.10 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.41 billion. During the same period last year, the company earned $3.69 EPS. The company’s quarterly revenue was down .9% on a year-over-year basis. As a group, research analysts anticipate that Hubbell will post 17.63 earnings per share for the current year.

Hubbell declared that its Board of Directors has approved a share buyback program on Wednesday, February 12th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the industrial products company to buy up to 2.4% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Hubbell Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Friday, February 28th were issued a $1.32 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $5.28 dividend on an annualized basis and a yield of 1.59%. Hubbell’s payout ratio is 36.77%.

Insider Transactions at Hubbell

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

Institutional Investors Weigh In On Hubbell

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Creative Financial Designs Inc. ADV boosted its position in shares of Hubbell by 85.7% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 65 shares of the industrial products company’s stock worth $27,000 after buying an additional 30 shares during the period. Stonebridge Financial Group LLC bought a new stake in Hubbell in the fourth quarter valued at $30,000. Versant Capital Management Inc boosted its holdings in shares of Hubbell by 64.6% in the 4th quarter. Versant Capital Management Inc now owns 79 shares of the industrial products company’s stock worth $33,000 after acquiring an additional 31 shares in the last quarter. Johnson Financial Group Inc. grew its stake in shares of Hubbell by 166.7% during the fourth quarter. Johnson Financial Group Inc. now owns 104 shares of the industrial products company’s stock valued at $44,000 after purchasing an additional 65 shares during the last quarter. Finally, Venturi Wealth Management LLC boosted its stake in shares of Hubbell by 69.7% in the 4th quarter. Venturi Wealth Management LLC now owns 129 shares of the industrial products company’s stock valued at $54,000 after purchasing an additional 53 shares during the last quarter. 88.16% of the stock is currently owned by 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.