Hubbell Incorporated (NYSE:HUBB) Receives $445.56 Average Target Price from Brokerages

Shares of Hubbell Incorporated (NYSE:HUBB) have been given a consensus rating of “Moderate Buy” by the nine brokerages that are currently covering the company, MarketBeat.com reports. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $445.56.

Several analysts have commented on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of Hubbell from a “hold” rating to a “buy” rating and boosted their price target for the stock from $431.00 to $441.00 in a research note on Friday, September 6th. Stephens reissued an “overweight” rating and set a $450.00 price target on shares of Hubbell in a research note on Friday, August 2nd. StockNews.com raised Hubbell from a “hold” rating to a “buy” rating in a research note on Thursday. Barclays increased their target price on Hubbell from $400.00 to $402.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Finally, Morgan Stanley raised their target price on shares of Hubbell from $407.00 to $445.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th.

Hubbell Price Performance

NYSE:HUBB opened at $437.61 on Monday. The business’s 50-day simple moving average is $435.08 and its two-hundred day simple moving average is $399.80. Hubbell has a 52 week low of $287.06 and a 52 week high of $481.35. The stock has a market cap of $23.49 billion, a PE ratio of 31.53, a P/E/G ratio of 1.63 and a beta of 0.90. 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 (NYSE:HUBB) last posted its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $4.49 EPS for the quarter, topping analysts’ consensus estimates of $4.47 by $0.02. The company had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.48 billion. Hubbell had a return on equity of 28.81% and a net margin of 13.33%. The firm’s revenue was up 4.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.95 EPS. As a group, analysts forecast that Hubbell will post 16.47 EPS for the current fiscal year.

Hubbell Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be issued a dividend of $1.32 per share. This represents a $5.28 annualized dividend and a yield of 1.21%. The ex-dividend date is Friday, November 29th. This is a positive change from Hubbell’s previous quarterly dividend of $1.22. Hubbell’s dividend payout ratio is presently 38.04%.

Insider Buying and Selling

In related news, insider Mark Eugene Mikes sold 1,144 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $466.20, for a total value of $533,332.80. Following the sale, the insider now directly owns 2,957 shares of the company’s stock, valued at $1,378,553.40. This represents a 27.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.66% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Norden Group LLC purchased a new stake in Hubbell in the first quarter worth $261,000. Envestnet Portfolio Solutions Inc. increased its stake in Hubbell by 32.0% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 1,629 shares of the industrial products company’s stock worth $676,000 after buying an additional 395 shares during the period. Empowered Funds LLC bought a new stake in Hubbell during the 1st quarter valued at about $327,000. SG Americas Securities LLC boosted its position in Hubbell by 230.6% in the 1st quarter. SG Americas Securities LLC now owns 8,420 shares of the industrial products company’s stock valued at $3,495,000 after buying an additional 5,873 shares during the period. Finally, Oppenheimer Asset Management Inc. grew its stake in Hubbell by 5.7% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 968 shares of the industrial products company’s stock worth $402,000 after acquiring an additional 52 shares in the last quarter. 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.