Hubbell (NYSE:HUBB) Price Target Raised to $385.00

Hubbell (NYSE:HUBB) had its price objective boosted by equities research analysts at JPMorgan Chase & Co. from $383.00 to $385.00 in a note issued to investors on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the industrial products company’s stock. JPMorgan Chase & Co.‘s price target suggests a potential downside of 3.22% from the stock’s previous close.

A number of other equities research analysts have also weighed in on HUBB. Wells Fargo & Company boosted their price objective on shares of Hubbell from $397.00 to $400.00 and gave the company an “equal weight” rating in a report on Wednesday. Barclays decreased their target price on shares of Hubbell from $400.00 to $384.00 and set an “equal weight” rating for the company in a research report on Thursday, May 2nd. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $394.14.

Hubbell Stock Up 4.7 %

NYSE HUBB traded up $18.02 on Wednesday, hitting $397.82. The stock had a trading volume of 402,670 shares, compared to its average volume of 463,629. The stock has a market cap of $21.36 billion, a price-to-earnings ratio of 29.66, a price-to-earnings-growth ratio of 1.36 and a beta of 0.90. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.66 and a quick ratio of 1.03. Hubbell has a 52-week low of $248.37 and a 52-week high of $429.61. The business’s fifty day moving average price is $378.11 and its 200 day moving average price is $379.99.

Hubbell (NYSE:HUBB) last announced its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $4.37 earnings per share for the quarter, beating analysts’ consensus estimates of $4.24 by $0.13. The firm had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.48 billion. Hubbell had a net margin of 13.23% and a return on equity of 29.55%. The business’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same period in the previous year, the company earned $4.07 earnings per share. Equities research analysts anticipate that Hubbell will post 16.33 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Neal J. Keating acquired 500 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was acquired at an average price of $378.77 per share, for a total transaction of $189,385.00. Following the completion of the transaction, the director now owns 8,571 shares in the company, valued at approximately $3,246,437.67. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, insider Mark Eugene Mikes sold 1,942 shares of the company’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $401.34, for a total transaction of $779,402.28. Following the completion of the transaction, the insider now owns 3,436 shares in the company, valued at approximately $1,379,004.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Neal J. Keating purchased 500 shares of Hubbell stock in a transaction that occurred on Friday, May 3rd. The shares were bought at an average price of $378.77 per share, with a total value of $189,385.00. Following the transaction, the director now owns 8,571 shares in the company, valued at $3,246,437.67. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 3,055 shares of company stock worth $1,232,139. Company insiders own 0.66% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Nvwm LLC purchased a new stake in Hubbell during the 1st quarter valued at about $25,000. EverSource Wealth Advisors LLC grew its stake in Hubbell by 1,850.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 78 shares of the industrial products company’s stock valued at $26,000 after acquiring an additional 74 shares in the last quarter. Lindbrook Capital LLC grew its stake in Hubbell by 127.5% during the 4th quarter. Lindbrook Capital LLC now owns 91 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 51 shares in the last quarter. Baillie Gifford & Co. purchased a new stake in Hubbell during the 4th quarter valued at about $33,000. Finally, Principal Securities Inc. purchased a new stake in Hubbell during the 4th quarter valued at about $40,000. Institutional investors and hedge funds own 88.16% of the company’s stock.

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.