Hubbell (NYSE:HUBB) Sets New 12-Month Low – Here’s Why

Hubbell Incorporated (NYSE:HUBB)’s share price hit a new 52-week low on Monday . The stock traded as low as $299.42 and last traded at $306.02, with a volume of 1202137 shares trading hands. The stock had previously closed at $321.35.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Barclays lowered their price target on Hubbell from $422.00 to $400.00 and set an “equal weight” rating on the stock in a research report on Wednesday, March 26th. StockNews.com raised shares of Hubbell from a “hold” rating to a “buy” rating in a research note on Thursday. Finally, Wells Fargo & Company decreased their price target on shares of Hubbell from $455.00 to $450.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 7th. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $462.13.

Hubbell Stock Down 1.0 %

The company has a market capitalization of $16.79 billion, a PE ratio of 21.75, a P/E/G ratio of 1.34 and a beta of 0.95. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.64 and a quick ratio of 0.98. The business’s 50 day simple moving average is $367.74 and its 200 day simple moving average is $416.11.

Hubbell (NYSE:HUBB) last posted its earnings results on Tuesday, February 4th. The industrial products company reported $4.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.02 by $0.08. Hubbell had a return on equity of 28.62% and a net margin of 13.82%. The company had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.41 billion. During the same quarter last year, the firm earned $3.69 earnings per share. The firm’s quarterly revenue was down .9% compared to the same quarter last year. As a group, analysts anticipate that Hubbell Incorporated will post 17.63 earnings per share for the current fiscal year.

Hubbell Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, February 28th were issued a $1.32 dividend. The ex-dividend date was Friday, February 28th. This represents a $5.28 annualized dividend and a dividend yield of 1.69%. Hubbell’s dividend payout ratio is currently 36.77%.

Hubbell declared that its board has approved a stock repurchase program on Wednesday, February 12th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the industrial products company to purchase up to 2.4% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

Insider Activity at Hubbell

In other news, insider Alyssa R. Flynn sold 1,164 shares of the stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $389.06, for a total transaction of $452,865.84. Following the sale, the insider now owns 4,327 shares of the company’s stock, valued at approximately $1,683,462.62. This represents a 21.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.66% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of HUBB. Vanguard Group Inc. raised its position in Hubbell by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 6,634,705 shares of the industrial products company’s stock valued at $2,779,212,000 after purchasing an additional 65,033 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Hubbell by 4.8% in the fourth quarter. Bank of New York Mellon Corp now owns 2,826,327 shares of the industrial products company’s stock worth $1,183,920,000 after acquiring an additional 129,490 shares during the last quarter. State Street Corp lifted its stake in Hubbell by 1.1% in the third quarter. State Street Corp now owns 2,092,215 shares of the industrial products company’s stock worth $896,200,000 after acquiring an additional 22,507 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Hubbell by 6.6% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,510,430 shares of the industrial products company’s stock valued at $632,704,000 after purchasing an additional 92,954 shares during the last quarter. Finally, Invesco Ltd. raised its holdings in shares of Hubbell by 1.9% in the 4th quarter. Invesco Ltd. now owns 1,490,479 shares of the industrial products company’s stock valued at $624,347,000 after purchasing an additional 27,914 shares in the last quarter. 88.16% of the stock is currently owned by hedge funds and other institutional investors.

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.