Hubbell Incorporated (NYSE:HUBB) Given Consensus Recommendation of “Hold” by Analysts

Shares of Hubbell Incorporated (NYSE:HUBB) have been assigned a consensus rating of “Hold” from the eight ratings firms that are covering the stock, Marketbeat Ratings reports. Five research 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 brokerages that have updated their coverage on the stock in the last year is $471.50.

Several research analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft lowered shares of Hubbell from a “buy” rating to a “hold” rating and decreased their price target for the stock from $493.00 to $473.00 in a research note on Tuesday, November 26th. Barclays lifted 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. Morgan Stanley upped their price target on Hubbell from $407.00 to $445.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Wells Fargo & Company reduced their price objective on 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, StockNews.com raised Hubbell from a “hold” rating to a “buy” rating in a report on Monday, February 17th.

Hedge Funds Weigh In On Hubbell

Several hedge funds have recently added to or reduced their stakes in HUBB. Janney Montgomery Scott LLC increased its holdings in Hubbell by 122.4% during the 4th quarter. Janney Montgomery Scott LLC now owns 28,723 shares of the industrial products company’s stock worth $12,032,000 after purchasing an additional 15,806 shares during the period. Salem Investment Counselors Inc. grew its position in shares of Hubbell by 26.0% during the 4th quarter. Salem Investment Counselors Inc. now owns 9,144 shares of the industrial products company’s stock worth $3,830,000 after buying an additional 1,886 shares in the last quarter. Principal Financial Group Inc. increased its stake in shares of Hubbell by 7.1% during the third quarter. Principal Financial Group Inc. now owns 229,210 shares of the industrial products company’s stock valued at $98,187,000 after buying an additional 15,215 shares during the period. LGT Capital Partners LTD. bought a new stake in shares of Hubbell in the third quarter valued at about $39,687,000. Finally, Impax Asset Management Group plc lifted its stake in Hubbell by 30.3% in the third quarter. Impax Asset Management Group plc now owns 1,202,455 shares of the industrial products company’s stock worth $514,377,000 after acquiring an additional 279,654 shares during the period. 88.16% of the stock is currently owned by institutional investors.

Hubbell Price Performance

HUBB stock opened at $376.74 on Wednesday. The company has a current ratio of 1.64, a quick ratio of 0.98 and a debt-to-equity ratio of 0.44. The firm’s 50-day moving average price is $420.03 and its two-hundred day moving average price is $424.45. The stock has a market capitalization of $20.22 billion, a price-to-earnings ratio of 26.24, a PEG ratio of 1.34 and a beta of 0.92. Hubbell has a 12-month low of $346.13 and a 12-month high of $481.35.

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

Hubbell declared that its board has authorized a stock buyback plan on Wednesday, February 12th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the industrial products company to reacquire up to 2.4% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board believes its stock is undervalued.

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 paid a dividend of $1.32 per share. The ex-dividend date is Friday, February 28th. This represents a $5.28 annualized dividend and a yield of 1.40%. Hubbell’s payout ratio is currently 36.77%.

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.