Hubbell (NYSE:HUBB) Hits New 12-Month Low – Should You Sell?

Shares of Hubbell Incorporated (NYSE:HUBB) reached a new 52-week low during mid-day trading on Monday . The company traded as low as $337.27 and last traded at $342.35, with a volume of 776805 shares. The stock had previously closed at $354.47.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on HUBB shares. Barclays decreased their price target on shares of Hubbell from $475.00 to $422.00 and set an “equal weight” rating on the stock in a research report on Monday, March 3rd. StockNews.com raised Hubbell from a “hold” rating to a “buy” rating in a research note on Monday, February 17th. Wells Fargo & Company cut their price objective on Hubbell from $455.00 to $450.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 7th. Finally, Deutsche Bank Aktiengesellschaft cut shares of Hubbell from a “buy” rating to a “hold” rating and decreased their target price for the stock from $493.00 to $473.00 in a research note on Tuesday, November 26th. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $464.88.

Hubbell Stock Performance

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 stock has a market capitalization of $17.96 billion, a PE ratio of 23.31, a P/E/G ratio of 1.34 and a beta of 0.94. The firm has a fifty day moving average price of $402.93 and a two-hundred day moving average price of $422.89.

Hubbell (NYSE:HUBB) last released 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. The business had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.41 billion. Hubbell had a return on equity of 28.62% and a net margin of 13.82%. The business’s revenue was down .9% compared to the same quarter last year. During the same quarter last year, the firm posted $3.69 earnings per share. Research analysts expect that Hubbell Incorporated will post 17.63 EPS for the current year.

Hubbell Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Friday, February 28th will be paid a $1.32 dividend. This represents a $5.28 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date is Friday, February 28th. Hubbell’s dividend payout ratio (DPR) is presently 36.77%.

Hubbell declared that its board has initiated a share buyback plan on Wednesday, February 12th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the industrial products company to purchase up to 2.4% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling at Hubbell

In related news, insider Alyssa R. Flynn sold 1,164 shares of the business’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $389.06, for a total transaction of $452,865.84. Following the transaction, the insider now directly 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 through this link. Insiders own 0.66% of the company’s stock.

Hedge Funds Weigh In On Hubbell

Several hedge funds and other institutional investors have recently modified their holdings of HUBB. Creative Financial Designs Inc. ADV raised its holdings 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 raised its stake in Hubbell by 17.0% in the 3rd 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 during the last quarter. Stonebridge Financial Group LLC purchased a new position in Hubbell in the 4th quarter worth $30,000. Prospera Private Wealth LLC acquired a new stake in Hubbell during the 3rd quarter worth about $33,000. Finally, Versant Capital Management Inc grew its stake in Hubbell by 64.6% during the 4th quarter. Versant Capital Management Inc now owns 79 shares of the industrial products company’s stock valued at $33,000 after purchasing an additional 31 shares during the last quarter. 88.16% of the stock is owned by hedge funds and other institutional investors.

Hubbell Company Profile

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.