Hubbell (NYSE:HUBB) Reaches New 12-Month Low on Analyst Downgrade

Hubbell Incorporated (NYSE:HUBB - Get Free Report) shares hit a new 52-week low during mid-day trading on Tuesday after Barclays lowered their price target on the stock from $475.00 to $422.00. Barclays currently has an equal weight rating on the stock. Hubbell traded as low as $340.38 and last traded at $348.15, with a volume of 108378 shares traded. The stock had previously closed at $354.95.

A number of other brokerages also recently commented on HUBB. StockNews.com upgraded Hubbell from a "hold" rating to a "buy" rating in a research note on Monday, February 17th. Deutsche Bank Aktiengesellschaft lowered Hubbell from a "buy" rating to a "hold" rating and reduced their price objective for the company from $493.00 to $473.00 in a research report on Tuesday, November 26th. Wells Fargo & Company dropped their target price on Hubbell from $455.00 to $450.00 and set an "equal weight" rating on the stock in a research report on Tuesday, January 7th. Finally, Sanford C. Bernstein initiated coverage on shares of Hubbell in a report on Tuesday, November 5th. They set an "outperform" rating and a $535.00 price target for the company. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $464.88.

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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 shares were sold at an average price of $389.06, for a total value of $452,865.84. Following the completion of the transaction, the insider now directly owns 4,327 shares in the company, valued at $1,683,462.62. This trade represents a 21.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.66% of the company's stock.

Institutional Investors Weigh In On Hubbell

Institutional investors have recently added to or reduced their stakes in the company. 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 worth $27,000 after buying an additional 30 shares in the last quarter. Groupama Asset Managment grew its holdings in Hubbell by 17.0% during the third 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 during the period. Stonebridge Financial Group LLC bought a new stake in Hubbell in the fourth quarter worth about $30,000. Prospera Private Wealth LLC acquired a new stake in Hubbell in the 3rd quarter valued at about $33,000. Finally, Versant Capital Management Inc boosted 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 purchasing an additional 31 shares in the last quarter. 88.16% of the stock is currently owned by institutional investors and hedge funds.

Hubbell Price Performance

The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.98 and a current ratio of 1.64. The company's 50 day moving average price is $407.47 and its 200-day moving average price is $422.93. The company has a market cap of $19.05 billion, a price-to-earnings ratio of 24.73, a PEG ratio of 1.34 and a beta of 0.95.

Hubbell (NYSE:HUBB - Get Free Report) last issued its earnings results on Tuesday, February 4th. The industrial products company reported $4.10 earnings per share for the quarter, topping 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 firm had revenue of $1.33 billion during the quarter, compared to analysts' expectations of $1.41 billion. During the same period last year, the firm posted $3.69 earnings per share. The firm's revenue for the quarter was down .9% compared to the same quarter last year. On average, equities research analysts forecast that Hubbell Incorporated will post 17.63 earnings per share for the current fiscal year.

Hubbell Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Friday, February 28th will be given a $1.32 dividend. The ex-dividend date is Friday, February 28th. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.49%. Hubbell's dividend payout ratio (DPR) is 36.77%.

Hubbell announced that its board has approved a share repurchase plan on Wednesday, February 12th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the industrial products company to purchase up to 2.4% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's management believes its shares are undervalued.

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.