Hubbell (NYSE:HUBB) Hits New 12-Month Low – Time to Sell?

Hubbell Incorporated (NYSE:HUBB) shares hit a new 52-week low during mid-day trading on Monday . The company traded as low as $316.34 and last traded at $324.07, with a volume of 77849 shares changing hands. The stock had previously closed at $332.01.

Analysts Set New Price Targets

HUBB has been the subject of a number of research reports. StockNews.com cut shares of Hubbell from a “buy” rating to a “hold” rating in a research note on Wednesday, March 26th. Wells Fargo & Company cut their target price on shares of Hubbell from $455.00 to $450.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 7th. Finally, 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. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $462.13.

Hubbell Price Performance

The firm’s fifty day moving average price is $379.97 and its 200-day moving average price is $418.86. The company has a quick ratio of 0.98, a current ratio of 1.64 and a debt-to-equity ratio of 0.44. The stock has a market cap of $17.48 billion, a P/E ratio of 22.69, a PEG ratio of 1.34 and a beta of 0.94.

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. The company had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.41 billion. Hubbell had a return on equity of 28.62% and a net margin of 13.82%. Hubbell’s quarterly revenue was down .9% on a year-over-year basis. During the same period last year, the firm earned $3.69 earnings per share. Analysts forecast that Hubbell Incorporated will post 17.63 earnings per share for the current year.

Hubbell Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, February 28th were given a dividend of $1.32 per share. This represents a $5.28 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date of this dividend was Friday, February 28th. Hubbell’s payout ratio is currently 36.77%.

Hubbell declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, February 12th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the industrial products company to reacquire up to 2.4% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Insiders Place Their Bets

In related news, insider Alyssa R. Flynn sold 1,164 shares of Hubbell 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 completion of the transaction, the insider now directly owns 4,327 shares of the company’s stock, valued at $1,683,462.62. This trade represents a 21.20 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.66% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Hubbell

Institutional investors and hedge funds have recently made changes to their positions in the business. Creative Financial Designs Inc. ADV increased its position in Hubbell by 85.7% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 65 shares of the industrial products company’s stock valued at $27,000 after buying an additional 30 shares in the last quarter. Stonebridge Financial Group LLC bought a new position in Hubbell during the 4th quarter valued at about $30,000. Versant Capital Management Inc boosted its holdings in shares of 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 acquiring an additional 31 shares during the last quarter. Johnson Financial Group Inc. grew its stake in shares of Hubbell by 166.7% in the fourth quarter. Johnson Financial Group Inc. now owns 104 shares of the industrial products company’s stock worth $44,000 after acquiring an additional 65 shares during the period. Finally, Venturi Wealth Management LLC raised its stake in Hubbell by 69.7% during the 4th quarter. Venturi Wealth Management LLC now owns 129 shares of the industrial products company’s stock valued at $54,000 after buying an additional 53 shares during the last quarter. Institutional investors own 88.16% of the company’s stock.

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.