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

Shares of Hubbell Incorporated (NYSE:HUBB - Get Free Report) have been assigned a consensus rating of "Hold" from the eight research firms that are presently covering the company, 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 12 month price objective among analysts that have updated their coverage on the stock in the last year is $471.50.

A number of research firms recently issued reports on HUBB. StockNews.com raised shares of Hubbell from a "hold" rating to a "buy" rating in a report on Monday, February 17th. Wells Fargo & Company dropped their price objective on shares of Hubbell from $455.00 to $450.00 and set an "equal weight" rating on the stock in a report on Tuesday, January 7th. Barclays raised their price objective 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. Sanford C. Bernstein began coverage on shares of Hubbell in a report on Tuesday, November 5th. They issued an "outperform" rating and a $535.00 price objective on the stock. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of Hubbell from a "buy" rating to a "hold" rating and dropped their price objective for the stock from $493.00 to $473.00 in a report on Tuesday, November 26th.

Hedge Funds Weigh In On Hubbell

Several hedge funds have recently modified their holdings of the stock. OLD National Bancorp IN lifted its holdings in shares of Hubbell by 3.8% in the third quarter. OLD National Bancorp IN now owns 596 shares of the industrial products company's stock worth $255,000 after buying an additional 22 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Hubbell by 12.3% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 228 shares of the industrial products company's stock worth $96,000 after buying an additional 25 shares in the last quarter. JGP Wealth Management LLC lifted its holdings in shares of Hubbell by 1.2% in the fourth quarter. JGP Wealth Management LLC now owns 2,110 shares of the industrial products company's stock worth $884,000 after buying an additional 26 shares in the last quarter. Huntington National Bank lifted its holdings in shares of Hubbell by 3.0% in the fourth quarter. Huntington National Bank now owns 886 shares of the industrial products company's stock worth $371,000 after buying an additional 26 shares in the last quarter. Finally, Nissay Asset Management Corp Japan ADV lifted its holdings in shares of Hubbell by 0.4% in the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 6,515 shares of the industrial products company's stock worth $2,757,000 after buying an additional 26 shares in the last quarter. Hedge funds and other institutional investors own 88.16% of the company's stock.

Hubbell Stock Performance

Shares of HUBB stock traded down $12.68 during trading hours on Wednesday, reaching $376.74. The company had a trading volume of 638,985 shares, compared to its average volume of 688,027. The business has a fifty day moving average price of $420.03 and a 200-day moving average price of $423.99. Hubbell has a one year low of $346.13 and a one year high of $481.35. The firm has a market cap of $20.22 billion, a PE ratio of 26.24, a price-to-earnings-growth ratio of 1.34 and a beta of 0.92. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.98 and a current ratio of 1.64.

Hubbell (NYSE:HUBB - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $4.10 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.02 by $0.08. The company had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.41 billion. Hubbell had a net margin of 13.82% and a return on equity of 28.62%. The firm's revenue was down .9% compared to the same quarter last year. During the same quarter last year, the firm posted $3.69 earnings per share. Sell-side analysts predict that Hubbell will post 17.63 earnings per share for the current fiscal year.

Hubbell declared that its board has approved a stock repurchase program on Wednesday, February 12th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the industrial products company to buy up to 2.4% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's board believes its shares are undervalued.

Hubbell Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Friday, February 28th will be issued a dividend of $1.32 per share. This represents a $5.28 annualized dividend and a yield of 1.40%. The ex-dividend date of this dividend is Friday, February 28th. Hubbell's dividend payout ratio is currently 36.77%.

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.