Hubbell Inc (NYSE:HUBB) Receives $462.29 Average Price Target from Analysts

Key Points

• Hubbell Inc has received a consensus rating of "Hold" from seven analysts, with five hold ratings and two buy ratings.
• The average 12-month price target for Hubbell shares is approximately $462.29, with analysts expecting significant performance due to trends like the electrification boom.
• The company recently reported earnings of $4.93 per share, exceeding expectations, and announced a quarterly dividend of $1.32 per share, with a yield of 1.2%.

Shares of Hubbell Inc (NYSE:HUBB - Get Free Report) have been given a consensus rating of "Hold" by the seven research firms that are presently covering the stock, Marketbeat reports. Five analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $462.2857.

A number of equities analysts have commented on HUBB shares. Wall Street Zen raised Hubbell from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Wells Fargo & Company increased their target price on Hubbell from $420.00 to $445.00 and gave the company an "equal weight" rating in a report on Wednesday, July 30th. Barclays increased their target price on Hubbell from $420.00 to $431.00 and gave the company an "equal weight" rating in a report on Friday, August 1st. Finally, JPMorgan Chase & Co. increased their target price on Hubbell from $352.00 to $417.00 and gave the company a "neutral" rating in a report on Friday, May 16th.

Insider Transactions at Hubbell

In other news, Director Carlos M. Cardoso sold 400 shares of the business's stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $386.29, for a total value of $154,516.00. Following the completion of the sale, the director directly owned 1,727 shares of the company's stock, valued at approximately $667,122.83. The trade was a 18.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.66% of the stock is owned by company insiders.

Institutional Trading of Hubbell

Institutional investors and hedge funds have recently made changes to their positions in the company. Central Pacific Bank Trust Division purchased a new stake in shares of Hubbell in the 2nd quarter valued at about $29,000. Tsfg LLC purchased a new stake in shares of Hubbell in the 1st quarter valued at about $30,000. Cullen Frost Bankers Inc. lifted its holdings in shares of Hubbell by 400.0% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 85 shares of the industrial products company's stock valued at $35,000 after purchasing an additional 68 shares during the last quarter. Johnson Financial Group Inc. lifted its holdings in shares of Hubbell by 166.7% in the 4th 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. Finally, NBC Securities Inc. purchased a new stake in shares of Hubbell in the 1st quarter valued at about $49,000. 88.16% of the stock is owned by hedge funds and other institutional investors.

Hubbell Price Performance

HUBB stock traded down $5.83 during mid-day trading on Wednesday, reaching $438.12. 473,414 shares of the company's stock were exchanged, compared to its average volume of 614,057. The company has a market cap of $23.28 billion, a price-to-earnings ratio of 26.08, a price-to-earnings-growth ratio of 2.48 and a beta of 0.99. The stock's 50 day moving average is $415.49 and its 200 day moving average is $382.70. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.30 and a quick ratio of 0.76. Hubbell has a 12-month low of $299.42 and a 12-month high of $481.35.

Hubbell (NYSE:HUBB - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The industrial products company reported $4.93 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.36 by $0.57. Hubbell had a return on equity of 27.63% and a net margin of 14.76%. The company had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.51 billion. On average, research analysts expect that Hubbell will post 17.63 EPS for the current year.

Hubbell Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 29th will be issued a dividend of $1.32 per share. This represents a $5.28 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Friday, August 29th. Hubbell's payout ratio is 34.29%.

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.