Hubbell (NYSE:HUBB) Price Target Raised to $400.00

Hubbell (NYSE:HUBB) had its price target lifted by Barclays from $368.00 to $400.00 in a research note published on Wednesday, Benzinga reports. The firm currently has an equal weight rating on the industrial products company’s stock.

A number of other equities analysts also recently issued reports on HUBB. JPMorgan Chase & Co. increased their price target on shares of Hubbell from $383.00 to $385.00 and gave the company an overweight rating in a report on Wednesday, July 31st. Morgan Stanley started coverage on shares of Hubbell in a research note on Friday, September 6th. They issued an equal weight rating and a $407.00 price objective on the stock. Stephens reissued an overweight rating and issued a $450.00 price objective on shares of Hubbell in a research note on Friday, August 2nd. Wells Fargo & Company increased their price objective on shares of Hubbell from $397.00 to $400.00 and gave the company an equal weight rating in a research note on Wednesday, July 31st. Finally, Deutsche Bank Aktiengesellschaft raised shares of Hubbell from a hold rating to a buy rating and increased their price objective for the company from $431.00 to $441.00 in a research note on Friday, September 6th. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Hubbell has an average rating of Moderate Buy and a consensus target price of $408.88.

Hubbell Stock Performance

Shares of HUBB opened at $429.72 on Wednesday. The company has a 50-day simple moving average of $393.01 and a 200-day simple moving average of $390.98. The company has a quick ratio of 1.13, a current ratio of 1.81 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $23.07 billion, a PE ratio of 32.04, a P/E/G ratio of 1.56 and a beta of 0.90. Hubbell has a 52-week low of $248.37 and a 52-week high of $433.03.

Hubbell (NYSE:HUBB) last announced its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $4.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.24 by $0.13. The business had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.48 billion. Hubbell had a net margin of 13.14% and a return on equity of 28.98%. The business’s revenue was up 6.3% compared to the same quarter last year. During the same quarter last year, the firm posted $4.07 EPS. Equities research analysts predict that Hubbell will post 16.45 earnings per share for the current fiscal year.

Hubbell Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 30th were paid a dividend of $1.22 per share. The ex-dividend date was Friday, August 30th. This represents a $4.88 annualized dividend and a dividend yield of 1.14%. Hubbell’s dividend payout ratio is currently 36.39%.

Insiders Place Their Bets

In other Hubbell 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Carlos M. Cardoso sold 450 shares of the firm’s stock in a transaction that occurred 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 directly owns 1,670 shares of the company’s stock, valued at approximately $608,781.80. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Gerben Bakker sold 15,677 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $374.34, for a total transaction of $5,868,528.18. Following the completion of the sale, the chief executive officer now directly owns 66,415 shares in the company, valued at $24,861,791.10. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.66% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Hubbell

Several hedge funds have recently modified their holdings of the stock. CWM LLC boosted its position in shares of Hubbell by 2.2% in the second quarter. CWM LLC now owns 1,319 shares of the industrial products company’s stock worth $482,000 after acquiring an additional 28 shares during the last quarter. Meeder Advisory Services Inc. raised its holdings in Hubbell by 3.8% in the first quarter. Meeder Advisory Services Inc. now owns 816 shares of the industrial products company’s stock valued at $339,000 after buying an additional 30 shares during the period. Detalus Advisors LLC raised its holdings in Hubbell by 3.0% in the second quarter. Detalus Advisors LLC now owns 1,030 shares of the industrial products company’s stock valued at $377,000 after buying an additional 30 shares during the period. Savant Capital LLC raised its holdings in Hubbell by 2.6% in the second quarter. Savant Capital LLC now owns 1,205 shares of the industrial products company’s stock valued at $440,000 after buying an additional 31 shares during the period. Finally, Massmutual Trust Co. FSB ADV raised its holdings in Hubbell by 23.5% in the second quarter. Massmutual Trust Co. FSB ADV now owns 184 shares of the industrial products company’s stock valued at $67,000 after buying an additional 35 shares during the period. 88.16% of the stock is owned by institutional investors and hedge funds.

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.