Hubbell (NYSE:HUBB) Price Target Raised to $455.00 at Wells Fargo & Company

Hubbell (NYSE:HUBB) had its price objective raised by research analysts at Wells Fargo & Company from $445.00 to $455.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has an “equal weight” rating on the industrial products company’s stock. Wells Fargo & Company‘s target price would indicate a potential upside of 6.62% from the stock’s current price.

Other research analysts also recently issued research reports about the company. Mizuho upped their price objective on Hubbell from $450.00 to $490.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Deutsche Bank Aktiengesellschaft raised Hubbell from a “hold” rating to a “buy” rating and upped their price target for the company from $431.00 to $441.00 in a research note on Friday, September 6th. Stephens reiterated an “overweight” rating and issued a $450.00 price objective on shares of Hubbell in a research report on Friday, August 2nd. JPMorgan Chase & Co. cut Hubbell from an “overweight” rating to a “neutral” rating and boosted their price objective for the stock from $385.00 to $454.00 in a report on Thursday, October 10th. Finally, Barclays raised their target price on shares of Hubbell from $368.00 to $400.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 2nd. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $434.38.

Hubbell Price Performance

Shares of HUBB stock opened at $426.76 on Wednesday. The stock’s fifty day moving average is $419.94 and its 200-day moving average is $395.41. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.13 and a current ratio of 1.81. Hubbell has a 52 week low of $248.37 and a 52 week high of $461.77. The stock has a market capitalization of $22.91 billion, a PE ratio of 31.82, a PEG ratio of 1.66 and a beta of 0.90.

Hubbell (NYSE:HUBB) last posted its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $4.49 earnings per share for the quarter, beating the consensus estimate 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 analysts’ expectations of $1.48 billion. During the same quarter last year, the company posted $3.95 EPS. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. Equities research analysts expect that Hubbell will post 16.43 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Gerben Bakker sold 15,677 shares of the business’s stock in a transaction on 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 transaction, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Gerben Bakker sold 15,677 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now owns 66,415 shares of the company’s stock, valued at $24,861,791.10. This trade 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, Director Carlos M. Cardoso sold 450 shares of the business’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 owns 1,670 shares of the company’s stock, valued at $608,781.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.66% of the company’s stock.

Institutional Investors Weigh In On Hubbell

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp boosted its stake in Hubbell by 16.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,035,596 shares of the industrial products company’s stock worth $743,970,000 after purchasing an additional 291,850 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings 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 purchasing an additional 286,134 shares in the last quarter. International Assets Investment Management LLC boosted its position in shares of Hubbell by 42,735.0% during the third quarter. International Assets Investment Management LLC now owns 1,919,865 shares of the industrial products company’s stock worth $8,223,740,000 after buying an additional 1,915,383 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in shares of Hubbell by 3.6% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,335,218 shares of the industrial products company’s stock worth $487,995,000 after buying an additional 46,813 shares in the last quarter. Finally, Impax Asset Management Group plc grew its holdings in shares of Hubbell by 30.3% during the third quarter. Impax Asset Management Group plc now owns 1,202,455 shares of the industrial products company’s stock worth $514,377,000 after buying an additional 279,654 shares in the last quarter. 88.16% of the stock is currently owned by institutional investors and hedge funds.

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.