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

Hubbell (NYSE:HUBB) had its price objective raised by Barclays from $400.00 to $402.00 in a research report sent to investors on Wednesday morning, Benzinga reports. They currently have an equal weight rating on the industrial products company’s stock.

A number of other brokerages have also commented on HUBB. Stephens reiterated an “overweight” rating and issued a $450.00 price target on shares of Hubbell in a research note on Friday, August 2nd. 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 target for the company. Wells Fargo & Company lifted their price target on shares of Hubbell from $445.00 to $455.00 and gave the stock an “equal weight” rating in a research note on Wednesday. JPMorgan Chase & Co. lowered shares of Hubbell from an “overweight” rating to a “neutral” rating and lifted their price target for the stock from $385.00 to $454.00 in a research note on Thursday, October 10th. Finally, Mizuho lifted their price target on shares of Hubbell from $450.00 to $490.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $434.38.

Hubbell Stock Down 0.3 %

Shares of Hubbell stock opened at $425.70 on Wednesday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.13 and a current ratio of 1.66. The stock has a market capitalization of $22.85 billion, a PE ratio of 30.67, a price-to-earnings-growth ratio of 1.59 and a beta of 0.90. Hubbell has a 52-week low of $274.42 and a 52-week high of $461.77. The company has a 50-day simple moving average of $421.70 and a two-hundred day simple moving average of $395.78.

Hubbell (NYSE:HUBB) last issued its earnings results on Tuesday, October 29th. The industrial products company reported $4.49 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period in the previous year, the company earned $3.95 earnings per share. On average, analysts anticipate that Hubbell will post 16.46 EPS for the current fiscal year.

Hubbell Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be given a dividend of $1.32 per share. This represents a $5.28 annualized dividend and a yield of 1.24%. This is a positive change from Hubbell’s previous quarterly dividend of $1.22. The ex-dividend date is Friday, November 29th. Hubbell’s payout ratio is 35.16%.

Insider Activity at Hubbell

In other Hubbell news, Director Carlos M. Cardoso sold 450 shares of the company’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 completion of the transaction, the director now directly owns 1,670 shares in the company, valued at $608,781.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Hubbell news, Director Carlos M. Cardoso sold 450 shares of the company’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 completion of the transaction, the director now directly owns 1,670 shares in the company, valued at $608,781.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Gerben Bakker sold 15,677 shares of the company’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 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 disclosure for this sale can be found here. 0.66% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Hubbell

Hedge funds have recently modified their holdings of the stock. Nvwm LLC purchased a new position in shares of Hubbell in the first quarter worth $25,000. Quarry LP purchased a new position in shares of Hubbell in the second quarter worth $49,000. Northwest Investment Counselors LLC purchased a new position in shares of Hubbell in the third quarter worth $58,000. Ashton Thomas Private Wealth LLC purchased a new position in shares of Hubbell in the second quarter worth $62,000. Finally, Massmutual Trust Co. FSB ADV lifted its holdings in shares of Hubbell by 23.5% in the second quarter. Massmutual Trust Co. FSB ADV now owns 184 shares of the industrial products company’s stock worth $67,000 after buying an additional 35 shares in the last quarter. 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.