Brokerages Set Hubbell Incorporated (NYSE:HUBB) PT at $457.22

Hubbell Incorporated (NYSE:HUBB - Get Free Report) has earned a consensus recommendation of "Hold" from the nine ratings firms that are covering the firm, MarketBeat.com reports. Five analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $457.22.

Several research analysts recently commented on HUBB shares. Deutsche Bank Aktiengesellschaft downgraded shares of Hubbell from a "buy" rating to a "hold" rating and dropped their target price for the stock from $493.00 to $473.00 in a report on Tuesday, November 26th. Sanford C. Bernstein assumed coverage on Hubbell in a research report on Tuesday, November 5th. They set an "outperform" rating and a $535.00 price objective for the company. Mizuho increased their target price on Hubbell from $450.00 to $490.00 and gave the company an "outperform" rating in a research note on Thursday, October 17th. Barclays lifted their price target on Hubbell from $402.00 to $475.00 and gave the stock an "equal weight" rating in a research report on Thursday. Finally, Wells Fargo & Company increased their price objective on Hubbell from $445.00 to $455.00 and gave the company an "equal weight" rating in a research report on Wednesday, October 30th.

Hubbell Stock Down 1.1 %

HUBB traded down $5.15 during midday trading on Friday, hitting $461.97. 429,490 shares of the company's stock traded hands, compared to its average volume of 440,933. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.66 and a quick ratio of 1.05. The company has a market cap of $24.79 billion, a PE ratio of 33.28, a price-to-earnings-growth ratio of 1.70 and a beta of 0.91. The stock's fifty day simple moving average is $449.29 and its 200-day simple moving average is $406.52. Hubbell has a one year low of $303.06 and a one year high of $481.35.

Hubbell (NYSE:HUBB - Get Free Report) last released its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $4.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.47 by $0.02. The business had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.48 billion. Hubbell had a net margin of 13.33% and a return on equity of 28.81%. Hubbell's quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.95 EPS. As a group, equities analysts anticipate that Hubbell will post 16.47 earnings per share for the current fiscal year.

Hubbell Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be paid a $1.32 dividend. This is a boost from Hubbell's previous quarterly dividend of $1.22. The ex-dividend date is Friday, November 29th. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.14%. Hubbell's dividend payout ratio is currently 38.04%.

Insider Transactions at Hubbell

In related news, insider Mark Eugene Mikes sold 1,144 shares of the business's stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $466.20, for a total value of $533,332.80. Following the sale, the insider now owns 2,957 shares of the company's stock, valued at $1,378,553.40. The trade was a 27.90 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.66% of the stock is owned by insiders.

Institutional Investors Weigh In On Hubbell

Several institutional investors and hedge funds have recently made changes to their positions in the company. Mizuho Securities USA LLC increased its position in shares of Hubbell by 192,421.1% during the 3rd quarter. Mizuho Securities USA LLC now owns 7,980,000 shares of the industrial products company's stock worth $3,418,233,000 after purchasing an additional 7,975,855 shares in the last quarter. State Street Corp increased its holdings in shares of Hubbell by 1.1% during the third quarter. State Street Corp now owns 2,092,215 shares of the industrial products company's stock worth $896,200,000 after buying an additional 22,507 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Hubbell by 16.7% in the second quarter. Bank of New York Mellon Corp now owns 2,035,596 shares of the industrial products company's stock valued at $743,970,000 after acquiring an additional 291,850 shares during the last quarter. International Assets Investment Management LLC boosted its holdings in shares of Hubbell by 42,735.0% in the 3rd quarter. International Assets Investment Management LLC now owns 1,919,865 shares of the industrial products company's stock worth $8,223,740,000 after acquiring an additional 1,915,383 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its holdings in shares of Hubbell by 6.2% in the 3rd 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 in the last quarter. Institutional investors and hedge funds own 88.16% of the company's stock.

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.