Brokerages Set Hubbell Incorporated (NYSE:HUBB) Target Price at $449.38

Hubbell Incorporated (NYSE:HUBB - Get Free Report) has received a consensus rating of "Hold" from the eight analysts that are presently covering the company, 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 12-month price objective among brokerages that have issued a report on the stock in the last year is $449.38.

A number of research analysts have weighed in on HUBB shares. Wells Fargo & Company cut their target price 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. Barclays decreased their target price on Hubbell from $422.00 to $400.00 and set an "equal weight" rating for the company in a research note on Wednesday, March 26th. JPMorgan Chase & Co. dropped their price target on Hubbell from $430.00 to $352.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 8th. Finally, StockNews.com cut Hubbell from a "buy" rating to a "hold" rating in a research report on Friday.

Hubbell Stock Performance

Shares of HUBB stock traded down $3.82 during trading on Thursday, reaching $346.69. The company had a trading volume of 595,580 shares, compared to its average volume of 516,974. The firm's 50 day simple moving average is $354.74 and its two-hundred day simple moving average is $410.80. Hubbell has a one year low of $299.43 and a one year high of $481.35. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.64 and a quick ratio of 0.98. The company has a market capitalization of $18.61 billion, a PE ratio of 24.14, a PEG ratio of 1.34 and a beta of 0.95.

Hubbell (NYSE:HUBB - Get Free Report) last released 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. Hubbell had a net margin of 13.82% and a return on equity of 28.62%. The company had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.41 billion. During the same quarter last year, the firm posted $3.69 earnings per share. The company's quarterly revenue was down .9% compared to the same quarter last year. Sell-side analysts forecast that Hubbell will post 17.63 earnings per share for the current year.

Hubbell Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Friday, February 28th were paid a $1.32 dividend. The ex-dividend date was Friday, February 28th. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.52%. Hubbell's payout ratio is 36.77%.

Hubbell announced that its board has authorized a share buyback program on Wednesday, February 12th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the industrial products company to reacquire up to 2.4% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's board of directors believes its shares are undervalued.

Insider Buying and Selling at Hubbell

In other news, insider Alyssa R. Flynn sold 1,164 shares of Hubbell stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $389.06, for a total transaction of $452,865.84. Following the sale, the insider now directly owns 4,327 shares in the company, valued at approximately $1,683,462.62. The trade was a 21.20 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.66% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Salem Investment Counselors Inc. lifted 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 during the period. Janney Montgomery Scott LLC raised its stake in Hubbell by 122.4% during the fourth quarter. Janney Montgomery Scott LLC now owns 28,723 shares of the industrial products company's stock worth $12,032,000 after acquiring an additional 15,806 shares in the last quarter. Principal Financial Group Inc. lifted its holdings 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 acquiring an additional 15,215 shares during the period. Nordea Investment Management AB boosted its stake in shares of Hubbell by 29.6% in the 4th quarter. Nordea Investment Management AB now owns 160,630 shares of the industrial products company's stock valued at $67,503,000 after purchasing an additional 36,643 shares in the last quarter. Finally, SPX Gestao de Recursos Ltda acquired a new stake in shares of Hubbell during the 3rd quarter worth about $9,985,000. 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.