Hubbell (NYSE:HUBB) Hits New 52-Week Low – Time to Sell?

Shares of Hubbell Incorporated (NYSE:HUBB) reached a new 52-week low on Monday . The stock traded as low as $337.27 and last traded at $342.35, with a volume of 776805 shares traded. The stock had previously closed at $354.47.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Barclays reduced their price target on Hubbell from $475.00 to $422.00 and set an “equal weight” rating on the stock in a research report on Monday, March 3rd. StockNews.com raised shares of Hubbell from a “hold” rating to a “buy” rating in a research note on Monday, February 17th. 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. Finally, Deutsche Bank Aktiengesellschaft downgraded Hubbell from a “buy” rating to a “hold” rating and reduced their target price for the company from $493.00 to $473.00 in a report on Tuesday, November 26th. Five analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Hubbell presently has a consensus rating of “Hold” and an average price target of $464.88.

Hubbell Stock Down 4.6 %

The company has a fifty day moving average price of $406.11 and a 200 day moving average price of $423.49. The company has a market cap of $18.14 billion, a PE ratio of 23.54, a price-to-earnings-growth ratio of 1.34 and a beta of 0.94. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.64 and a quick ratio of 0.98.

Hubbell (NYSE:HUBB) last issued its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $4.10 EPS for the quarter, beating analysts’ consensus estimates of $4.02 by $0.08. The business had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.41 billion. Hubbell had a net margin of 13.82% and a return on equity of 28.62%. The business’s quarterly revenue was down .9% on a year-over-year basis. During the same period last year, the business earned $3.69 earnings per share. As a group, analysts anticipate that Hubbell Incorporated will post 17.63 EPS for the current year.

Hubbell Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Friday, February 28th will be given a $1.32 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $5.28 annualized dividend and a yield of 1.56%. Hubbell’s payout ratio is currently 36.77%.

Hubbell declared that its Board of Directors has initiated a stock repurchase program on Wednesday, February 12th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the industrial products company to reacquire up to 2.4% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

Insider Transactions at Hubbell

In other Hubbell news, insider Alyssa R. Flynn sold 1,164 shares of the stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $389.06, for a total transaction of $452,865.84. Following the completion of the sale, the insider now owns 4,327 shares of the company’s stock, valued at $1,683,462.62. This represents a 21.20 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.66% of the company’s stock.

Hedge Funds Weigh In On Hubbell

Several hedge funds and other institutional investors have recently modified their holdings of HUBB. Creative Financial Designs Inc. ADV increased its holdings in Hubbell by 85.7% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 65 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 30 shares during the period. Groupama Asset Managment grew its position in shares of Hubbell by 17.0% in the 3rd quarter. Groupama Asset Managment now owns 6,955 shares of the industrial products company’s stock worth $30,000 after buying an additional 1,010 shares during the last quarter. Stonebridge Financial Group LLC purchased a new position in shares of Hubbell during the fourth quarter valued at approximately $30,000. Prospera Private Wealth LLC bought a new position in shares of Hubbell during the third quarter valued at approximately $33,000. Finally, Versant Capital Management Inc lifted its stake in Hubbell by 64.6% in the fourth 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 during the period. 88.16% of the stock is owned by institutional investors.

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.