Barclays Cuts Hubbell (NYSE:HUBB) Price Target to $400.00

Hubbell (NYSE:HUBB - Free Report) had its target price reduced by Barclays from $422.00 to $400.00 in a research report report published on Wednesday,Benzinga reports. They currently have an equal weight rating on the industrial products company's stock.

HUBB has been the subject of several other reports. Deutsche Bank Aktiengesellschaft cut shares of Hubbell from a "buy" rating to a "hold" rating and lowered their price objective for the company from $493.00 to $473.00 in a research note on Tuesday, November 26th. StockNews.com upgraded Hubbell from a "hold" rating to a "buy" rating in a report on Monday, February 17th. Finally, Wells Fargo & Company decreased their target price on Hubbell from $455.00 to $450.00 and set an "equal weight" rating for the company in a report on Tuesday, January 7th. Six analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Hubbell has an average rating of "Hold" and an average price target of $462.13.

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Hubbell Trading Down 3.0 %

Shares of HUBB stock traded down $10.32 during mid-day trading on Wednesday, hitting $331.68. 387,277 shares of the company's stock were exchanged, compared to its average volume of 492,605. The stock has a market cap of $17.80 billion, a price-to-earnings ratio of 23.10, a PEG ratio of 1.34 and a beta of 0.94. The company has a quick ratio of 0.98, a current ratio of 1.64 and a debt-to-equity ratio of 0.44. Hubbell has a fifty-two week low of $330.32 and a fifty-two week high of $481.35. The stock has a 50-day simple moving average of $379.97 and a two-hundred day simple moving average of $418.68.

Hubbell (NYSE:HUBB - Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $4.10 EPS for the quarter, beating the consensus estimate of $4.02 by $0.08. The company had revenue of $1.33 billion during the quarter, compared to analysts' expectations of $1.41 billion. Hubbell had a return on equity of 28.62% and a net margin of 13.82%. The firm's revenue was down .9% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.69 EPS. Equities analysts expect that Hubbell will post 17.63 EPS for the current fiscal year.

Hubbell Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Friday, February 28th were issued a dividend of $1.32 per share. This represents a $5.28 dividend on an annualized basis and a yield of 1.59%. The ex-dividend date was Friday, February 28th. Hubbell's payout ratio is 36.77%.

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

Insider Activity

In other news, insider Alyssa R. Flynn sold 1,164 shares of the stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $389.06, for a total transaction of $452,865.84. Following the completion of the transaction, the insider now directly owns 4,327 shares in the company, valued at approximately $1,683,462.62. This represents a 21.20 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.66% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Creative Financial Designs Inc. ADV raised its stake in shares of Hubbell by 85.7% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 65 shares of the industrial products company's stock valued at $27,000 after purchasing an additional 30 shares in the last quarter. Groupama Asset Managment grew its position in shares of Hubbell by 17.0% in the 3rd quarter. Groupama Asset Managment now owns 6,955 shares of the industrial products company's stock worth $30,000 after acquiring an additional 1,010 shares in the last quarter. Stonebridge Financial Group LLC bought a new stake in shares of Hubbell in the 4th quarter valued at approximately $30,000. Versant Capital Management Inc raised its position in shares of Hubbell by 64.6% during the 4th quarter. Versant Capital Management Inc now owns 79 shares of the industrial products company's stock valued at $33,000 after acquiring an additional 31 shares in the last quarter. Finally, Johnson Financial Group Inc. grew its holdings in shares of Hubbell by 166.7% during the fourth quarter. Johnson Financial Group Inc. now owns 104 shares of the industrial products company's stock valued at $44,000 after purchasing an additional 65 shares during the last quarter. 88.16% of the stock is currently owned by institutional investors.

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.