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

Hubbell Inc (NYSE:HUBB) has been given a consensus rating of “Moderate Buy” by the eleven analysts that are currently covering the stock, MarketBeat.com reports. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $546.00.

HUBB has been the subject of a number of analyst reports. Robert W. Baird reduced their price objective on shares of Hubbell from $550.00 to $540.00 and set an “outperform” rating for the company in a research note on Wednesday, October 28th. Sanford C. Bernstein reiterated an “outperform” rating on shares of Hubbell in a research note on Wednesday, July 29th. Seaport Research Partners reiterated a “buy” rating and issued a $580.00 target price on shares of Hubbell in a research note on Wednesday, September 30th. Wells Fargo & Company cut their price target on shares of Hubbell from $531.00 to $525.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 28th. Finally, Weiss Ratings downgraded shares of Hubbell from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, October 29th.

Hubbell Trading Up 0.1%

NYSE HUBB opened at $429.77 on Friday. Hubbell has a 12 month low of $403.82 and a 12 month high of $565.50. The stock has a market cap of $22.70 billion, a P/E ratio of 25.19, a P/E/G ratio of 2.05 and a beta of 0.84. The stock’s fifty day moving average price is $455.74 and its 200-day moving average price is $486.63. 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) last issued its quarterly earnings results on Tuesday, October 27th. The industrial products company reported $5.91 earnings per share for the quarter, beating the consensus estimate of $5.75 by $0.16. The firm had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $1.85 billion. Hubbell had a return on equity of 27.33% and a net margin of 13.78%. The company’s revenue was up 24.6% on a year-over-year basis. During the same period last year, the company earned $5.17 earnings per share. As a group, equities analysts forecast that Hubbell will post 20.55 EPS for the current fiscal year.

Hubbell Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Monday, November 30th will be issued a dividend of $1.52 per share. The ex-dividend date of this dividend is Monday, November 30th. This is an increase from Hubbell’s previous quarterly dividend of $1.42. This represents a $6.08 dividend on an annualized basis and a dividend yield of 1.4%. Hubbell’s dividend payout ratio is currently 33.29%.

Insider Activity

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

Hedge Funds Weigh In On Hubbell

A number of hedge funds have recently bought and sold shares of HUBB. Corient Private Wealth LP bought a new stake in Hubbell during the second quarter valued at approximately $4,254,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Hubbell during the second quarter valued at approximately $7,648,000. Swedbank AB raised its position in Hubbell by 19.2% in the first quarter. Swedbank AB now owns 32,380 shares of the industrial products company’s stock worth $15,890,000 after acquiring an additional 5,218 shares during the period. NewEdge Wealth LLC bought a new position in Hubbell in the second quarter worth approximately $745,000. Finally, Royal London Asset Management Ltd. raised its position in Hubbell by 25.9% in the second quarter. Royal London Asset Management Ltd. now owns 380,948 shares of the industrial products company’s stock worth $199,312,000 after acquiring an additional 78,357 shares during the period. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Hubbell Company Profile

Hubbell Incorporated is a manufacturer of electrical and utility products serving customers in the energy, industrial, commercial and residential markets. Its products help support the generation, transmission and distribution of electricity, as well as the installation and use of electrical systems.

The company’s Utility Solutions business makes products such as connectors, insulators, arresters and other equipment used in electric utility networks. Its Electrical Solutions business supplies wiring devices, lighting and controls, enclosures and related products for buildings and industrial applications.

Founded by inventor Harvey Hubbell in 1888, the company serves customers primarily in North America, with operations and sales in other markets.