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

Hubbell (NYSE:HUBB) had its target price raised by Barclays from $400.00 to $402.00 in a report issued on Wednesday morning, Benzinga reports. The brokerage currently has an equal weight rating on the industrial products company’s stock.

A number of other equities analysts also recently commented 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 report on Wednesday. Mizuho raised their price objective on shares of Hubbell from $450.00 to $490.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Stephens reaffirmed an “overweight” rating and set a $450.00 price objective on shares of Hubbell in a report on Friday, August 2nd. Deutsche Bank Aktiengesellschaft raised shares of 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 report on Friday, September 6th. Finally, JPMorgan Chase & Co. downgraded shares of Hubbell from an “overweight” rating to a “neutral” rating and raised their price objective for the stock from $385.00 to $454.00 in a report on Thursday, October 10th. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $434.38.

Hubbell Price Performance

Shares of Hubbell stock opened at $431.66 on Wednesday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.81 and a quick ratio of 1.13. Hubbell has a fifty-two week low of $248.37 and a fifty-two week high of $461.77. The firm has a fifty day moving average price of $418.82 and a two-hundred day moving average price of $395.15. The company has a market cap of $23.17 billion, a PE ratio of 32.19, a price-to-earnings-growth ratio of 1.66 and a beta of 0.90.

Hubbell (NYSE:HUBB) last issued its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $4.49 earnings per share for the quarter, beating analysts’ consensus estimates of $4.47 by $0.02. Hubbell had a net margin of 13.14% and a return on equity of 28.98%. The firm had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same period in the prior year, the firm earned $3.95 EPS. The business’s revenue was up 4.9% on a year-over-year basis. Analysts expect that Hubbell will post 16.43 EPS for the current year.

Hubbell Increases Dividend

The company 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. The ex-dividend date of this dividend is Friday, November 29th. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.22%. This is a boost from Hubbell’s previous quarterly dividend of $1.22. Hubbell’s dividend payout ratio (DPR) is 36.39%.

Insider Buying and Selling at Hubbell

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 value of $5,868,528.18. Following the completion of the sale, the chief executive officer now owns 66,415 shares in the company, valued at approximately $24,861,791.10. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Hubbell news, Director Carlos M. Cardoso sold 450 shares of the firm’s stock in a transaction dated 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 sale, the director now owns 1,670 shares in the company, valued at approximately $608,781.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, 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 completion of the sale, the chief executive officer now owns 66,415 shares of the company’s stock, valued at $24,861,791.10. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.66% of the company’s stock.

Institutional Investors Weigh In On Hubbell

Several institutional investors have recently modified their holdings of HUBB. Nvwm LLC acquired a new stake in shares of Hubbell during the 1st quarter worth approximately $25,000. Quarry LP acquired a new stake in shares of Hubbell during the 2nd quarter worth approximately $49,000. Northwest Investment Counselors LLC acquired a new stake in shares of Hubbell during the 3rd quarter worth approximately $58,000. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Hubbell during the 2nd quarter worth approximately $62,000. Finally, Massmutual Trust Co. FSB ADV grew its position in shares of Hubbell by 23.5% during the 2nd 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 during the period. Institutional investors and hedge funds 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.