Brokerages Set Hubbell Incorporated (NYSE:HUBB) Target Price at $457.22

Hubbell Incorporated (NYSE:HUBB) is currently being analyzed by eight research firms, and it has received an average recommendation of "Hold" according to MarketBeat Ratings. Out of these eight analysts, five have rated the stock with a hold, while three have given it a buy rating. The average 1-year target price set by brokers who have updated their reports on this stock in the last year is $472.13.

Several analysts have provided their insights on Hubbell recently. For instance, Mizuho raised its price target from $450.00 to $490.00, rating the stock as "outperform" on October 17th. Wells Fargo & Company also increased its price target to $455.00 from $445.00 while maintaining an "equal weight" rating on October 30th. Meanwhile, Deutsche Bank lowered its rating from "buy" to "hold," adjusting its price target from $493.00 to $473.00 on November 26th. Additionally, JPMorgan Chase downgraded the stock's rating from "overweight" to "neutral" while increasing its target price from $385.00 to $454.00 on October 10th. Sanford C. Bernstein entered the field by initiating coverage with an "outperform" rating, setting a target price of $535.00 on November 5th.

Insider Transactions

In other news, an insider named Mark Eugene Mikes sold 1,144 shares of Hubbell's stock on November 7th for an average price of $466.20. This sale resulted in a total transaction of approximately $533,332.80. After this sale, the insider's ownership in the company decreased by 27.90%, leaving him with 2,957 shares valued at around $1,378,553.40. This transaction was reported to the Securities and Exchange Commission (SEC).

Institutional Investors' Activity

Numerous hedge funds and institutional investors have adjusted their positions in Hubbell recently. Groupama Asset Management increased its holdings by 17.0% in the third quarter, owning 6,955 shares valued at $30,000 after acquiring an additional 1,010 shares. Several other firms, such as Prospera Private Wealth LLC and Ashton Thomas Securities LLC, also established new positions in the third quarter, valued at approximately $33,000 and $41,000 respectively. Overall, institutional investors now hold 88.16% of the stock.

Stock Performance Overview

As of Friday, NYSE:HUBB opened at $461.97. The company boasts a market capitalization of $24.79 billion, a price-to-earnings (PE) ratio of 33.28, and a price-to-earnings growth (PEG) ratio of 1.75. Over the past year, shares have fluctuated between $303.06 and $481.35. In terms of liquidity, the current ratio stands at 1.66, the quick ratio at 1.05, and the debt-to-equity ratio is at 0.51. The fifty-day simple moving average is $449.29 while the two-hundred day moving average is $406.57.

Recent Earnings Report

Hubbell reported quarterly earnings on October 29th, with earnings per share (EPS) of $4.49, slightly exceeding the consensus estimate of $4.47 by $0.02. The company achieved a return on equity of 28.81% and maintained a net margin of 13.33%. Revenue for the quarter reached $1.44 billion, which was below the consensus estimate of $1.48 billion but represented a 4.9% increase year-over-year. Analysts forecast that Hubbell will post an EPS of 16.47 for the current year.

Dividend Increase Announcement

Additionally, Hubbell has announced a quarterly dividend of $1.32 to be paid on December 16th, with record shareholders as of November 29th. This represents an annualized dividend yield of 1.14%, an increase from the prior quarterly dividend of $1.22. The current dividend payout ratio sits at 38.04%.

About Hubbell

Hubbell Incorporated, along with its subsidiaries, specializes in designing, manufacturing, and selling electrical and utility solutions, both in the United States and internationally. The company operates through two main segments: Electrical Solutions and Utility Solutions. The Electrical Solutions segment provides various electrical products, including standard and special application wiring devices, lighting fixtures, and other essential electrical equipment.

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