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

Hubbell Inc (NYSE:HUBB) has been given an average rating of “Moderate Buy” by the eleven ratings firms that are covering the company, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $544.22.

HUBB has been the subject of a number of research reports. Sanford C. Bernstein reissued an “outperform” rating on shares of Hubbell in a research report on Wednesday, July 29th. Evercore restated an “outperform” rating and issued a $630.00 price objective on shares of Hubbell in a report on Friday, October 9th. Wells Fargo & Company cut their price objective on Hubbell from $531.00 to $525.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 28th. Weiss Ratings lowered Hubbell from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, October 29th. Finally, Mizuho set a $515.00 target price on Hubbell in a report on Wednesday, October 28th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of HUBB. Schuylkill Financial LLC acquired a new stake in shares of Hubbell in the second quarter worth $30,000. Leonteq Securities AG purchased a new position in shares of Hubbell in the 1st quarter valued at $33,000. Keating Financial Advisory Services Inc. purchased a new position in shares of Hubbell in the 2nd quarter valued at $35,000. Gen Wealth Partners Inc acquired a new position in shares of Hubbell during the 3rd quarter valued at $35,000. Finally, Fiduciary Financial Advisors acquired a new position in shares of Hubbell during the 2nd quarter valued at $37,000. 88.16% of the stock is owned by institutional investors and hedge funds.

Hubbell Stock Down 1.2%

Shares of HUBB opened at $438.09 on Friday. The firm has a market cap of $23.14 billion, a PE ratio of 22.08, a price-to-earnings-growth ratio of 2.12 and a beta of 0.84. The company’s fifty day moving average is $454.86 and its two-hundred day moving average is $485.75. Hubbell has a fifty-two week low of $403.82 and a fifty-two week high of $565.50. The company has a quick ratio of 0.87, a current ratio of 1.53 and a debt-to-equity ratio of 1.09.

Hubbell (NYSE:HUBB) last announced its quarterly earnings data on Tuesday, October 27th. The industrial products company reported $5.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.75 by $0.16. The company had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.85 billion. Hubbell had a net margin of 13.78% and a return on equity of 27.33%. The business’s quarterly revenue was up 24.6% compared to the same quarter last year. During the same period in the previous year, the company earned $5.17 EPS. Analysts forecast that Hubbell will post 20.55 earnings per share for the current year.

Hubbell Increases Dividend

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

About Hubbell

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.