Hubbell (NYSE:HUBB) Hits New 52-Week Low - Time to Sell?

Hubbell Incorporated (NYSE:HUBB - Get Free Report)'s share price hit a new 52-week low during trading on Monday . The stock traded as low as $299.42 and last traded at $306.02, with a volume of 1202137 shares changing hands. The stock had previously closed at $321.35.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. JPMorgan Chase & Co. lowered their target price on shares of Hubbell from $430.00 to $352.00 and set a "neutral" rating for the company in a research note on Tuesday. StockNews.com cut shares of Hubbell from a "buy" rating to a "hold" rating in a research report on Friday. Barclays dropped their target price on shares of Hubbell from $422.00 to $400.00 and set an "equal weight" rating on the stock in a research note on Wednesday, March 26th. Finally, Wells Fargo & Company decreased their price target on shares of Hubbell from $455.00 to $450.00 and set an "equal weight" rating for the company in a research note on Tuesday, January 7th. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $449.38.

Hubbell Trading Up 3.5 %

The company's fifty day moving average is $356.69 and its 200-day moving average is $411.91. 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 $18.98 billion, a PE ratio of 24.63, a price-to-earnings-growth ratio of 1.34 and a beta of 0.95.

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

Hubbell Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, February 28th were issued a $1.32 dividend. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date was Friday, February 28th. Hubbell's dividend payout ratio is currently 36.77%.

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

Insiders Place Their Bets

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Creative Financial Designs Inc. ADV lifted its position in Hubbell by 85.7% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 65 shares of the industrial products company's stock worth $27,000 after acquiring an additional 30 shares during the period. Stonebridge Financial Group LLC acquired a new stake in shares of Hubbell during the 4th quarter worth approximately $30,000. Versant Capital Management Inc increased its holdings in Hubbell by 64.6% in the fourth quarter. Versant Capital Management Inc now owns 79 shares of the industrial products company's stock valued at $33,000 after buying an additional 31 shares in the last quarter. Johnson Financial Group Inc. raised its position in shares of Hubbell by 166.7% in the fourth quarter. Johnson Financial Group Inc. now owns 104 shares of the industrial products company's stock worth $44,000 after acquiring an additional 65 shares during the period. Finally, NBC Securities Inc. purchased a new stake in shares of Hubbell during the 1st quarter worth about $49,000. Hedge funds and other institutional investors 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.