Analysts Set Hubbell Incorporated (NYSE:HUBB) Price Target at $386.57

Shares of Hubbell Incorporated (NYSE:HUBB) have been assigned an average rating of “Moderate Buy” from the nine ratings firms that are presently covering the stock, MarketBeat Ratings reports. Four analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $386.57.

A number of equities analysts recently weighed in on HUBB shares. Deutsche Bank Aktiengesellschaft started coverage on shares of Hubbell in a research note on Monday, March 11th. They issued a “hold” rating and a $427.00 target price for the company. Mizuho increased their price objective on Hubbell from $370.00 to $450.00 and gave the stock a “buy” rating in a report on Wednesday, March 20th. Wells Fargo & Company cut their target price on Hubbell from $435.00 to $397.00 and set an “equal weight” rating on the stock in a research note on Wednesday, May 1st. Barclays decreased their price target on shares of Hubbell from $400.00 to $384.00 and set an “equal weight” rating for the company in a research note on Thursday, May 2nd. Finally, StockNews.com lowered shares of Hubbell from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd.

Insider Activity at Hubbell

In other Hubbell news, Director Neal J. Keating acquired 500 shares of the company’s stock in a transaction on Friday, May 3rd. The shares were purchased at an average price of $378.77 per share, for a total transaction of $189,385.00. Following the completion of the purchase, the director now directly owns 8,571 shares of the company’s stock, valued at $3,246,437.67. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, insider Alyssa R. Flynn sold 1,106 shares of Hubbell stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $406.79, for a total transaction of $449,909.74. Following the completion of the sale, the insider now owns 4,234 shares of the company’s stock, valued at approximately $1,722,348.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Neal J. Keating purchased 500 shares of the stock in a transaction on Friday, May 3rd. The stock was bought at an average cost of $378.77 per share, for a total transaction of $189,385.00. Following the completion of the acquisition, the director now owns 8,571 shares in the company, valued at $3,246,437.67. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 3,055 shares of company stock worth $1,232,139. Insiders own 0.66% of the company’s stock.

Institutional Investors Weigh In On Hubbell

Institutional investors have recently made changes to their positions in the company. Nvwm LLC bought a new position in shares of Hubbell during the first quarter worth approximately $25,000. EverSource Wealth Advisors LLC lifted its holdings in shares of Hubbell by 1,850.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 78 shares of the industrial products company’s stock worth $26,000 after buying an additional 74 shares in the last quarter. Lindbrook Capital LLC boosted its position in shares of Hubbell by 127.5% in the fourth quarter. Lindbrook Capital LLC now owns 91 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 51 shares during the period. Baillie Gifford & Co. bought a new stake in shares of Hubbell in the fourth quarter valued at about $33,000. Finally, Principal Securities Inc. acquired a new position in shares of Hubbell in the fourth quarter valued at about $40,000. Institutional investors own 88.16% of the company’s stock.

Hubbell Stock Up 3.1 %

NYSE:HUBB opened at $413.00 on Monday. Hubbell has a 1 year low of $248.37 and a 1 year high of $429.61. The stock has a 50-day moving average price of $402.15 and a two-hundred day moving average price of $358.62. The stock has a market cap of $22.17 billion, a price-to-earnings ratio of 30.80, a PEG ratio of 1.60 and a beta of 0.96. The company has a current ratio of 1.66, a quick ratio of 1.03 and a debt-to-equity ratio of 0.64.

Hubbell (NYSE:HUBB) last posted its earnings results on Tuesday, April 30th. The industrial products company reported $3.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.54 by $0.06. The business had revenue of $1.40 billion during the quarter, compared to analysts’ expectations of $1.39 billion. Hubbell had a return on equity of 29.55% and a net margin of 13.23%. Hubbell’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same period in the prior year, the business earned $3.61 EPS. As a group, equities analysts expect that Hubbell will post 16.33 earnings per share for the current year.

Hubbell Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Friday, May 31st will be issued a $1.22 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $4.88 dividend on an annualized basis and a dividend yield of 1.18%. Hubbell’s payout ratio is 36.39%.

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.