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

Hubbell Inc (NYSE:HUBB) has been assigned a consensus rating of “Moderate Buy” from the eleven analysts that are covering the stock, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $546.00.

Several equities analysts have commented on HUBB shares. Morgan Stanley set a $600.00 price target on shares of Hubbell in a research note on Friday, October 16th. Evercore reiterated an “outperform” rating and issued a $630.00 price objective on shares of Hubbell in a research note on Friday, October 9th. JPMorgan Chase & Co. lifted their target price on Hubbell from $485.00 to $486.00 and gave the company a “neutral” rating in a report on Wednesday, October 28th. Mizuho set a $515.00 target price on Hubbell in a research note on Wednesday, October 28th. Finally, Sanford C. Bernstein restated an “outperform” rating on shares of Hubbell in a report on Wednesday, July 29th.

Hubbell Stock Down 0.7%

Hubbell stock opened at $438.42 on Friday. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.53 and a quick ratio of 0.87. The stock has a market capitalization of $23.16 billion, a PE ratio of 25.70, a price-to-earnings-growth ratio of 2.11 and a beta of 0.84. The business has a 50 day simple moving average of $455.10 and a 200-day simple moving average of $486.21. Hubbell has a 12 month low of $403.82 and a 12 month high of $565.50.

Hubbell (NYSE:HUBB) last posted its 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 net margin of 13.78% and a return on equity of 27.33%. The firm’s revenue for the quarter was up 24.6% on a year-over-year basis. During the same quarter last year, the firm earned $5.17 EPS. On average, analysts anticipate that Hubbell will post 20.55 EPS for the current fiscal year.

Hubbell Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Monday, November 30th will be paid a $1.52 dividend. This represents a $6.08 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Monday, November 30th. This is a boost from Hubbell’s previous quarterly dividend of $1.42. Hubbell’s dividend payout ratio (DPR) is 33.29%.

Institutional Trading of Hubbell

A number of large investors have recently made changes to their positions in HUBB. Private Advisor Group LLC boosted its position in shares of Hubbell by 45.6% during the 3rd quarter. Private Advisor Group LLC now owns 3,401 shares of the industrial products company’s stock worth $1,542,000 after acquiring an additional 1,065 shares in the last quarter. Hartford Funds Management Co LLC purchased a new position in shares of Hubbell in the 3rd quarter valued at about $689,000. Colonial Trust Co SC raised its position in shares of Hubbell by 253.9% during the 3rd quarter. Colonial Trust Co SC now owns 1,327 shares of the industrial products company’s stock worth $602,000 after acquiring an additional 952 shares in the last quarter. BHK Investment Advisors LLC raised its position in shares of Hubbell by 3.9% during the 3rd quarter. BHK Investment Advisors LLC now owns 1,990 shares of the industrial products company’s stock worth $902,000 after acquiring an additional 74 shares in the last quarter. Finally, Boston Partners raised its position in shares of Hubbell by 22.3% during the 3rd quarter. Boston Partners now owns 1,350,142 shares of the industrial products company’s stock worth $615,154,000 after acquiring an additional 246,243 shares in the last quarter. 88.16% of the stock is currently owned by hedge funds and other institutional investors.

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.