Hubbell (NYSE:HUBB) Reaches New 1-Year Low on Analyst Downgrade

Hubbell Incorporated (NYSE:HUBB) hit a new 52-week low during trading on Tuesday after Barclays lowered their price target on the stock from $475.00 to $422.00. Barclays currently has an equal weight rating on the stock. Hubbell traded as low as $340.38 and last traded at $348.15, with a volume of 108378 shares traded. The stock had previously closed at $354.95.

HUBB has been the subject of several other reports. StockNews.com upgraded Hubbell from a “hold” rating to a “buy” rating in a research report on Monday, February 17th. Wells Fargo & Company dropped their price objective on shares of Hubbell from $455.00 to $450.00 and set an “equal weight” rating for the company in a report on Tuesday, January 7th. Sanford C. Bernstein started coverage on shares of Hubbell in a research report on Tuesday, November 5th. They issued an “outperform” rating and a $535.00 price target for the company. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Hubbell from a “buy” rating to a “hold” rating and cut their price target for the stock from $493.00 to $473.00 in a report on Tuesday, November 26th. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $464.88.

Insider Buying and Selling

In other news, insider Alyssa R. Flynn sold 1,164 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $389.06, for a total value of $452,865.84. Following the transaction, the insider now owns 4,327 shares in the company, valued at $1,683,462.62. The trade was a 21.20 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.66% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Hubbell

Large investors have recently modified their holdings of the business. Creative Financial Designs Inc. ADV boosted its holdings in Hubbell by 85.7% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 65 shares of the industrial products company’s stock worth $27,000 after buying an additional 30 shares during the period. Groupama Asset Managment lifted its position in shares of Hubbell by 17.0% during the third quarter. Groupama Asset Managment now owns 6,955 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 1,010 shares in the last quarter. Stonebridge Financial Group LLC bought a new position in shares of Hubbell in the fourth quarter worth $30,000. Prospera Private Wealth LLC bought a new stake in shares of Hubbell during the 3rd quarter valued at $33,000. Finally, Versant Capital Management Inc lifted its holdings in Hubbell by 64.6% during the 4th quarter. Versant Capital Management Inc now owns 79 shares of the industrial products company’s stock worth $33,000 after purchasing an additional 31 shares in the last quarter. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Hubbell Trading Down 1.9 %

The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.98 and a current ratio of 1.64. The firm has a market cap of $18.68 billion, a P/E ratio of 24.17, a P/E/G ratio of 1.34 and a beta of 0.95. The firm has a 50 day simple moving average of $412.33 and a 200 day simple moving average of $424.12.

Hubbell (NYSE:HUBB) last announced its earnings results on Tuesday, February 4th. The industrial products company reported $4.10 earnings per share for the quarter, topping analysts’ consensus estimates of $4.02 by $0.08. Hubbell had a return on equity of 28.62% and a net margin of 13.82%. The business had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.41 billion. During the same period in the prior year, the company earned $3.69 EPS. The company’s quarterly revenue was down .9% compared to the same quarter last year. On average, equities research analysts predict that Hubbell Incorporated will post 17.63 EPS for the current fiscal year.

Hubbell Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Friday, February 28th will be given a dividend of $1.32 per share. The ex-dividend date is Friday, February 28th. This represents a $5.28 annualized dividend and a yield of 1.52%. Hubbell’s payout ratio is 36.77%.

Hubbell announced that its board has initiated a stock buyback program on Wednesday, February 12th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the industrial products company to purchase up to 2.4% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

About Hubbell

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.