Hubbell (NYSE:HUBB) Price Target Increased to $490.00 by Analysts at Mizuho

Hubbell (NYSE:HUBB) had its price objective hoisted by stock analysts at Mizuho from $450.00 to $490.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage presently has an “outperform” rating on the industrial products company’s stock. Mizuho’s price target indicates a potential upside of 7.94% from the stock’s previous close.

HUBB has been the subject of a number of other reports. Deutsche Bank Aktiengesellschaft upgraded Hubbell from a “hold” rating to a “buy” rating and raised their price objective for the stock from $431.00 to $441.00 in a research report on Friday, September 6th. Barclays lifted their target price on Hubbell from $368.00 to $400.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 2nd. Wells Fargo & Company lifted their target price on Hubbell from $400.00 to $445.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. JPMorgan Chase & Co. downgraded Hubbell from an “overweight” rating to a “neutral” rating and lifted their target price for the stock from $385.00 to $454.00 in a report on Thursday, October 10th. Finally, Morgan Stanley started coverage on 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 issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $428.13.

Hubbell Price Performance

Shares of HUBB opened at $453.96 on Thursday. Hubbell has a 1 year low of $248.37 and a 1 year high of $461.77. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.81 and a quick ratio of 1.13. The company has a market capitalization of $24.37 billion, a price-to-earnings ratio of 33.85, a price-to-earnings-growth ratio of 1.67 and a beta of 0.90. The business has a 50-day moving average of $405.45 and a 200-day moving average of $392.93.

Hubbell (NYSE:HUBB) last issued its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $4.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.24 by $0.13. Hubbell had a return on equity of 28.98% and a net margin of 13.14%. The company had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same period last year, the company earned $4.07 earnings per share. The firm’s revenue was up 6.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Hubbell will post 16.41 earnings per share for the current year.

Insider Activity at Hubbell

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Impax Asset Management Group plc raised its stake in shares of Hubbell by 53.8% in the second quarter. Impax Asset Management Group plc now owns 922,801 shares of the industrial products company’s stock valued at $336,984,000 after buying an additional 322,728 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Hubbell by 16.7% in the second quarter. Bank of New York Mellon Corp now owns 2,035,596 shares of the industrial products company’s stock valued at $743,970,000 after buying an additional 291,850 shares during the period. Price T Rowe Associates Inc. MD raised its stake in shares of Hubbell by 16.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,980,456 shares of the industrial products company’s stock valued at $821,989,000 after buying an additional 286,134 shares during the period. Ceredex Value Advisors LLC raised its stake in shares of Hubbell by 60.9% in the second quarter. Ceredex Value Advisors LLC now owns 204,720 shares of the industrial products company’s stock valued at $74,821,000 after buying an additional 77,500 shares during the period. Finally, Covea Finance raised its stake in shares of Hubbell by 187.5% in the third quarter. Covea Finance now owns 99,200 shares of the industrial products company’s stock valued at $42,492,000 after buying an additional 64,700 shares during the period. Hedge funds and other 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.