Brokerages Set Hubbell Incorporated (NYSE:HUBB) Price Target at $471.50

Shares of Hubbell Incorporated (NYSE:HUBB) have been given a consensus recommendation of “Hold” by the eight analysts that are presently covering the company, MarketBeat reports. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $471.50.

HUBB has been the topic of a number of analyst reports. Mizuho increased their target price on Hubbell from $450.00 to $490.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. StockNews.com cut Hubbell from a “buy” rating to a “hold” rating in a research report on Tuesday. Barclays upped their target price on shares of Hubbell from $402.00 to $475.00 and gave the company an “equal weight” rating in a report on Thursday, December 5th. Wells Fargo & Company reduced their price objective on shares of Hubbell from $455.00 to $450.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 7th. Finally, Deutsche Bank Aktiengesellschaft downgraded Hubbell from a “buy” rating to a “hold” rating and cut their price target for the company from $493.00 to $473.00 in a report on Tuesday, November 26th.

Hubbell Price Performance

Hubbell stock opened at $422.94 on Friday. The firm has a market capitalization of $22.70 billion, a PE ratio of 30.47, a P/E/G ratio of 1.43 and a beta of 0.93. Hubbell has a 52 week low of $334.17 and a 52 week high of $481.35. The firm’s 50-day simple moving average is $439.29 and its 200 day simple moving average is $421.26. 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 released its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $4.49 EPS for the quarter, beating the consensus estimate of $4.47 by $0.02. Hubbell had a net margin of 13.33% and a return on equity of 28.81%. The business had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.48 billion. During the same period in the prior year, the business earned $3.95 earnings per share. The company’s quarterly revenue was up 4.9% on a year-over-year basis. On average, equities research analysts predict that Hubbell will post 16.48 EPS for the current fiscal year.

Hubbell Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Friday, February 28th will be given a dividend of $1.32 per share. This represents a $5.28 dividend on an annualized basis and a yield of 1.25%. Hubbell’s dividend payout ratio (DPR) is 38.04%.

Insiders Place Their Bets

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

Institutional Trading of Hubbell

Large investors have recently bought and sold shares of the company. Mizuho Securities USA LLC boosted its stake in shares of Hubbell by 192,421.1% in the third quarter. Mizuho Securities USA LLC now owns 7,980,000 shares of the industrial products company’s stock valued at $3,418,233,000 after purchasing an additional 7,975,855 shares during the period. State Street Corp boosted its position in Hubbell by 1.1% in the 3rd quarter. State Street Corp now owns 2,092,215 shares of the industrial products company’s stock valued at $896,200,000 after buying an additional 22,507 shares during the last quarter. International Assets Investment Management LLC grew its stake in shares of Hubbell by 42,735.0% during the third quarter. International Assets Investment Management LLC now owns 1,919,865 shares of the industrial products company’s stock valued at $8,223,740,000 after acquiring an additional 1,915,383 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Hubbell by 6.2% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,417,476 shares of the industrial products company’s stock worth $607,176,000 after acquiring an additional 82,258 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of Hubbell by 0.7% in the third quarter. Geode Capital Management LLC now owns 1,254,905 shares of the industrial products company’s stock worth $535,681,000 after acquiring an additional 8,278 shares in the last quarter. Institutional investors and hedge funds 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.