Hubbell (NYSE:HUBB) Sets New 1-Year Low – Time to Sell?

Hubbell Incorporated (NYSE:HUBB) shares reached 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.

Analysts Set New Price Targets

Several analysts have commented on the stock. Barclays decreased their price target on shares of Hubbell from $422.00 to $400.00 and set an “equal weight” rating on the stock in a research note on Wednesday, March 26th. StockNews.com upgraded Hubbell from a “hold” rating to a “buy” rating in a report 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 equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $462.13.

Hubbell Stock Down 1.0 %

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

Hubbell (NYSE:HUBB) last released its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $4.10 earnings per share for the quarter, beating the consensus estimate of $4.02 by $0.08. The firm had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.41 billion. Hubbell had a return on equity of 28.62% and a net margin of 13.82%. The firm’s quarterly revenue was down .9% on a year-over-year basis. During the same period in the previous year, the company posted $3.69 earnings per share. On average, equities analysts anticipate that Hubbell Incorporated will post 17.63 EPS for the current year.

Hubbell Announces Dividend

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

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

Insider Activity

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

Institutional Investors Weigh In On Hubbell

Hedge funds have recently added to or reduced their stakes in the business. Creative Financial Designs Inc. ADV boosted its stake in shares of Hubbell by 85.7% in the fourth 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 last quarter. Groupama Asset Managment grew its stake in shares of Hubbell by 17.0% during the 3rd quarter. Groupama Asset Managment now owns 6,955 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 1,010 shares during the period. Stonebridge Financial Group LLC acquired a new stake in shares of Hubbell during the 4th quarter worth approximately $30,000. Versant Capital Management Inc boosted its holdings in Hubbell by 64.6% during the fourth quarter. Versant Capital Management Inc now owns 79 shares of the industrial products company’s stock worth $33,000 after buying an additional 31 shares in the last quarter. Finally, Johnson Financial Group Inc. grew its position in Hubbell by 166.7% during the fourth quarter. Johnson Financial Group Inc. now owns 104 shares of the industrial products company’s stock valued at $44,000 after buying an additional 65 shares during the period. 88.16% of the stock is 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.