Analysts Set Hubbell Incorporated (NYSE:HUBB) PT at $386.57

Hubbell Incorporated (NYSE:HUBB) has been given a consensus rating of “Moderate Buy” by the nine analysts that are covering the company, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $386.57.

HUBB has been the topic of several recent research reports. StockNews.com downgraded Hubbell from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. 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. Barclays dropped their target price on shares of Hubbell from $400.00 to $384.00 and set an “equal weight” rating for the company in a report on Thursday, May 2nd. Wells Fargo & Company lowered their price objective on 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, Deutsche Bank Aktiengesellschaft initiated coverage on Hubbell in a research report on Monday, March 11th. They set a “hold” rating and a $427.00 target price for the company.

Hubbell Stock Up 3.1 %

HUBB opened at $413.00 on Monday. Hubbell has a twelve month low of $248.37 and a twelve month high of $429.61. The company has a quick ratio of 1.03, a current ratio of 1.66 and a debt-to-equity ratio of 0.64. The firm has a 50 day moving average price of $401.79 and a 200-day moving average price of $356.60. The stock has a market capitalization of $22.17 billion, a price-to-earnings ratio of 30.36, a PEG ratio of 1.56 and a beta of 0.96.

Hubbell (NYSE:HUBB) last announced its earnings results on Tuesday, April 30th. The industrial products company reported $3.60 earnings per share (EPS) for the quarter, beating the consensus estimate 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 previous year, the business posted $3.61 earnings per share. The firm’s quarterly revenue was up 8.8% compared to the same quarter last year. Equities research analysts forecast that Hubbell will post 16.33 earnings per share for the current year.

Hubbell Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Friday, May 31st will be issued a $1.22 dividend. This represents a $4.88 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date is Friday, May 31st. Hubbell’s payout ratio is 36.39%.

Insider Buying and Selling

In related news, insider Mark Eugene Mikes sold 1,942 shares of the firm’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $401.34, for a total value of $779,402.28. Following the completion of the sale, the insider now directly owns 3,436 shares in the company, valued at $1,379,004.24. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Hubbell news, Director Neal J. Keating acquired 500 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were bought at an average price of $378.77 per share, with a total value of $189,385.00. Following the transaction, the director now directly owns 8,571 shares of the company’s stock, valued at approximately $3,246,437.67. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mark Eugene Mikes sold 1,942 shares of the stock in a transaction on Monday, May 13th. The stock was sold at an average price of $401.34, for a total value of $779,402.28. Following the completion of the sale, the insider now owns 3,436 shares in the company, valued at approximately $1,379,004.24. The disclosure for this sale can be found here. Over the last quarter, insiders sold 3,055 shares of company stock worth $1,232,139. Corporate insiders own 0.66% of the company’s stock.

Institutional Trading of Hubbell

Several institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in shares of Hubbell by 15.9% in the 4th quarter. Vanguard Group Inc. now owns 6,696,582 shares of the industrial products company’s stock valued at $2,202,707,000 after purchasing an additional 918,808 shares in the last quarter. FMR LLC lifted its stake in shares of Hubbell by 2.9% during the 3rd quarter. FMR LLC now owns 2,563,965 shares of the industrial products company’s stock worth $803,572,000 after purchasing an additional 71,962 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in Hubbell by 16.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,980,456 shares of the industrial products company’s stock valued at $821,989,000 after purchasing an additional 286,134 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Hubbell by 14.2% in the first quarter. Bank of New York Mellon Corp now owns 1,743,746 shares of the industrial products company’s stock valued at $723,741,000 after purchasing an additional 216,600 shares during the last quarter. Finally, International Assets Investment Management LLC grew its stake in Hubbell by 32,734.4% in the fourth quarter. International Assets Investment Management LLC now owns 1,472,949 shares of the industrial products company’s stock valued at $484,497,000 after purchasing an additional 1,468,463 shares during the last quarter. Institutional investors own 88.16% of the company’s stock.

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.