Hubbell (NYSE:HUBB) Price Target Raised to $402.00

Hubbell (NYSE:HUBB) had its price objective upped by Barclays from $400.00 to $402.00 in a research note released on Wednesday, Benzinga reports. The brokerage currently has an equal weight rating on the industrial products company’s stock.

Several other equities research analysts also recently issued reports on HUBB. Wells Fargo & Company raised their price objective on shares of Hubbell from $445.00 to $455.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Deutsche Bank Aktiengesellschaft upgraded Hubbell from a “hold” rating to a “buy” rating and increased their price target for the company from $431.00 to $441.00 in a research note on Friday, September 6th. Stephens reaffirmed an “overweight” rating and issued a $450.00 price objective on shares of Hubbell in a research note on Friday, August 2nd. JPMorgan Chase & Co. cut shares of Hubbell from an “overweight” rating to a “neutral” rating and upped their price target for the company from $385.00 to $454.00 in a research report on Thursday, October 10th. Finally, Morgan Stanley initiated coverage on shares of Hubbell in a report on Friday, September 6th. They issued an “equal weight” rating and a $407.00 target price for the company. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $434.38.

Hubbell Trading Down 0.3 %

Hubbell stock traded down $1.33 during trading hours on Wednesday, reaching $425.70. 539,193 shares of the company’s stock traded hands, compared to its average volume of 442,942. The firm’s 50 day moving average is $421.70 and its 200-day moving average is $395.78. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.13 and a current ratio of 1.66. Hubbell has a fifty-two week low of $274.42 and a fifty-two week high of $461.77. The firm has a market capitalization of $22.85 billion, a price-to-earnings ratio of 30.67, a PEG ratio of 1.60 and a beta of 0.90.

Hubbell (NYSE:HUBB) last released its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $4.49 EPS for the quarter, beating analysts’ consensus estimates of $4.47 by $0.02. The business had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.48 billion. Hubbell had a net margin of 13.33% and a return on equity of 28.81%. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.95 EPS. On average, analysts predict that Hubbell will post 16.47 earnings per share for the current year.

Hubbell Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be issued a $1.32 dividend. This is a boost from Hubbell’s previous quarterly dividend of $1.22. The ex-dividend date is Friday, November 29th. This represents a $5.28 annualized dividend and a dividend yield of 1.24%. Hubbell’s dividend payout ratio (DPR) is currently 38.04%.

Insider Activity

In related news, CEO Gerben Bakker sold 15,677 shares of Hubbell stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $374.34, for a total transaction of $5,868,528.18. Following the completion of the transaction, the chief executive officer now directly owns 66,415 shares of the company’s stock, valued at $24,861,791.10. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CEO Gerben Bakker sold 15,677 shares of the firm’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $374.34, for a total transaction of $5,868,528.18. Following the sale, the chief executive officer now owns 66,415 shares of the company’s stock, valued at $24,861,791.10. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Carlos M. Cardoso sold 450 shares of the company’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $364.54, for a total value of $164,043.00. Following the sale, the director now owns 1,670 shares of the company’s stock, valued at approximately $608,781.80. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.66% of the company’s stock.

Institutional Trading of Hubbell

Hedge funds and other institutional investors have recently modified their holdings of the company. Bank of New York Mellon Corp lifted its stake in Hubbell by 16.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,035,596 shares of the industrial products company’s stock worth $743,970,000 after purchasing an additional 291,850 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Hubbell by 16.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,980,456 shares of the industrial products company’s stock worth $821,989,000 after purchasing an additional 286,134 shares during the period. International Assets Investment Management LLC lifted its stake in Hubbell by 42,735.0% in the third quarter. International Assets Investment Management LLC now owns 1,919,865 shares of the industrial products company’s stock worth $8,223,740,000 after purchasing an additional 1,915,383 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Hubbell by 3.6% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,335,218 shares of the industrial products company’s stock worth $487,995,000 after purchasing an additional 46,813 shares during the last quarter. Finally, Impax Asset Management Group plc lifted its holdings in Hubbell by 30.3% during the 3rd quarter. Impax Asset Management Group plc now owns 1,202,455 shares of the industrial products company’s stock valued at $514,377,000 after buying an additional 279,654 shares in 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.