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

Hubbell Incorporated (NYSE:HUBB) has been assigned a consensus recommendation of “Hold” from the eight brokerages that are currently covering the stock, Marketbeat Ratings reports. Five analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $472.13.

A number of research firms have recently commented on HUBB. Sanford C. Bernstein began coverage on Hubbell in a research report on Tuesday, November 5th. They issued an “outperform” rating and a $535.00 price objective for the company. Barclays boosted 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. Morgan Stanley increased their price objective 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. Mizuho boosted their target price on shares of Hubbell from $450.00 to $490.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Finally, StockNews.com lowered shares of Hubbell from a “buy” rating to a “hold” rating in a research note on Tuesday, December 3rd.

Insiders Place Their Bets

In other news, insider Mark Eugene Mikes sold 1,144 shares of Hubbell stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $466.20, for a total transaction of $533,332.80. Following the transaction, the insider now owns 2,957 shares in the company, valued at $1,378,553.40. The trade was a 27.90 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.66% of the company’s stock.

Institutional Investors Weigh In On Hubbell

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Prospera Private Wealth LLC acquired a new position in Hubbell in the 3rd quarter valued at about $33,000. Versant Capital Management Inc lifted its holdings in Hubbell by 64.6% in the fourth quarter. Versant Capital Management Inc now owns 79 shares of the industrial products company’s stock valued at $33,000 after acquiring an additional 31 shares during the last quarter. Ashton Thomas Securities LLC purchased a new position in Hubbell in the third quarter worth approximately $41,000. Quarry LP acquired a new stake in Hubbell during the second quarter worth $49,000. Finally, Northwest Investment Counselors LLC purchased a new stake in Hubbell in the third quarter valued at $58,000. 88.16% of the stock is currently owned by institutional investors and hedge funds.

Hubbell Stock Up 2.1 %

HUBB stock opened at $439.90 on Tuesday. Hubbell has a one year low of $317.32 and a one year high of $481.35. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.05 and a current ratio of 1.66. The firm’s fifty day moving average is $445.05 and its 200 day moving average is $413.95. The firm has a market cap of $23.61 billion, a PE ratio of 31.69, a P/E/G ratio of 1.69 and a beta of 0.93.

Hubbell (NYSE:HUBB) last posted its earnings results on Tuesday, October 29th. The industrial products company reported $4.49 EPS for the quarter, beating analysts’ consensus estimates of $4.47 by $0.02. Hubbell had a return on equity of 28.81% and a net margin of 13.33%. The firm had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.48 billion. During the same period last year, the firm earned $3.95 EPS. The company’s quarterly revenue was up 4.9% on a year-over-year basis. On average, research analysts forecast that Hubbell will post 16.47 EPS for the current year.

Hubbell Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 29th were paid a dividend of $1.32 per share. This represents a $5.28 annualized dividend and a yield of 1.20%. The ex-dividend date of this dividend was Friday, November 29th. This is a boost from Hubbell’s previous quarterly dividend of $1.22. Hubbell’s dividend payout ratio is currently 38.04%.

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.