Hubbell Inc (NYSE:HUBB) Stock Has Average Price Target of $546.00 According to Brokerages

Key Points

• Analyst sentiment is moderately positive: Six of 11 covering brokerages rate Hubbell a buy, while five recommend holding; the average one-year price target is $546.
• Hubbell beat quarterly estimates, reporting earnings of $5.91 per share and $1.87 billion in revenue, up 24.6% year over year.
• The company raised its quarterly dividend from $1.42 to $1.52 per share. Shares were reported down 4.4%, opening at $418.82.

Shares of Hubbell Inc (NYSE:HUBB - Get Free Report) have received an average rating of "Moderate Buy" from the eleven ratings firms that are currently covering the company, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $546.00.

Several equities research analysts have issued reports on the stock. Mizuho set a $515.00 price target on shares of Hubbell in a research note on Wednesday, October 28th. Seaport Research Partners restated a "buy" rating and set a $580.00 price objective on shares of Hubbell in a research note on Wednesday, September 30th. Robert W. Baird decreased their price objective on Hubbell from $550.00 to $540.00 and set an "outperform" rating for the company in a report on Wednesday, October 28th. JPMorgan Chase & Co. upped their price objective on Hubbell from $485.00 to $486.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 28th. Finally, Sanford C. Bernstein reissued an "outperform" rating on shares of Hubbell in a report on Wednesday, July 29th.

Hubbell Trading Down 4.4%

HUBB opened at $418.82 on Friday. The stock has a market capitalization of $22.13 billion, a P/E ratio of 24.55, a P/E/G ratio of 2.09 and a beta of 0.84. Hubbell has a 12 month low of $403.82 and a 12 month high of $565.50. The firm's fifty day simple moving average is $456.55 and its 200 day simple moving average is $486.85. The company has a current ratio of 1.53, a quick ratio of 0.87 and a debt-to-equity ratio of 1.09.

Hubbell (NYSE:HUBB - Get Free Report) last announced its quarterly earnings data on Tuesday, October 27th. The industrial products company reported $5.91 EPS for the quarter, topping analysts' consensus estimates of $5.75 by $0.16. Hubbell had a net margin of 13.78% and a return on equity of 27.33%. The business had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.85 billion. During the same quarter in the previous year, the firm posted $5.17 earnings per share. The firm's revenue for the quarter was up 24.6% on a year-over-year basis. As a group, research analysts anticipate that Hubbell will post 20.55 EPS for the current fiscal year.

Hubbell Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Monday, November 30th will be given a dividend of $1.52 per share. This represents a $6.08 annualized dividend and a yield of 1.5%. This is an increase from Hubbell's previous quarterly dividend of $1.42. The ex-dividend date of this dividend is Monday, November 30th. Hubbell's payout ratio is currently 33.29%.

Insider Buying and Selling

In other Hubbell news, VP Jonathan Del Nero sold 547 shares of the stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $518.56, for a total value of $283,652.32. Following the completion of the sale, the vice president owned 2,933 shares in the company, valued at $1,520,936.48. This trade represents a 15.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.63% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Hubbell

Institutional investors and hedge funds have recently modified their holdings of the company. Schuylkill Financial LLC acquired a new position in shares of Hubbell during the 2nd quarter worth $30,000. Keating Financial Advisory Services Inc. bought a new stake in shares of Hubbell during the 2nd quarter worth $35,000. Leonteq Securities AG acquired a new stake in Hubbell in the first quarter valued at about $33,000. Fiduciary Financial Advisors acquired a new stake in Hubbell in the second quarter valued at about $37,000. Finally, Gen Wealth Partners Inc bought a new position in Hubbell in the third quarter valued at about $35,000. 88.16% of the stock is owned by institutional investors.

Hubbell Company Profile

Hubbell Incorporated NYSE: HUBB is an electrical products manufacturer that develops and supplies products used in utility, commercial, industrial, and telecommunications applications. Founded in 1888 by Harvey Hubbell, the company has built a portfolio focused on improving the reliability, safety, and efficiency of electrical systems.

Hubbell's Utility Solutions products support the generation, transmission, distribution, and control of electricity. Its offerings include electrical connectors and fittings, insulators, arresters, transmission and distribution hardware, communications infrastructure products, and equipment used in underground and overhead utility networks.

Its Electrical Solutions business serves commercial and industrial customers with wiring devices, electrical enclosures, grounding and bonding products, cable management systems, lighting-related products, and solutions designed for harsh, hazardous, and demanding operating environments.

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