Hubbell (NYSE:HUBB) Price Target Raised to $490.00

Hubbell (NYSE:HUBB) had its target price upped by Mizuho from $450.00 to $490.00 in a report released on Thursday, Benzinga reports. The firm currently has an outperform rating on the industrial products company’s stock.

A number of other analysts have also recently issued reports on HUBB. Morgan Stanley initiated 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 for the company. JPMorgan Chase & Co. lowered Hubbell from an “overweight” rating to a “neutral” rating and increased their price target for the stock from $385.00 to $454.00 in a research note on Thursday, October 10th. Deutsche Bank Aktiengesellschaft upgraded Hubbell from a “hold” rating to a “buy” rating and boosted their price objective for the company from $431.00 to $441.00 in a research report on Friday, September 6th. Barclays increased their target price on Hubbell from $368.00 to $400.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 2nd. Finally, Wells Fargo & Company boosted their price target on Hubbell from $400.00 to $445.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. 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, Hubbell presently has an average rating of “Moderate Buy” and an average price target of $428.13.

Hubbell Price Performance

NYSE HUBB opened at $456.81 on Thursday. The business’s fifty day moving average is $408.72 and its 200 day moving average is $393.29. Hubbell has a fifty-two week low of $248.37 and a fifty-two week high of $461.77. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.13 and a current ratio of 1.81. The company has a market capitalization of $24.52 billion, a PE ratio of 34.06, a price-to-earnings-growth ratio of 1.67 and a beta of 0.90.

Hubbell (NYSE:HUBB) last posted its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $4.37 earnings per share for the quarter, beating analysts’ consensus estimates of $4.24 by $0.13. The firm had revenue of $1.45 billion for the quarter, compared to analysts’ expectations of $1.48 billion. Hubbell had a return on equity of 28.98% and a net margin of 13.14%. The business’s quarterly revenue was up 6.3% on a year-over-year basis. During the same period in the previous year, the firm earned $4.07 EPS. Sell-side analysts predict that Hubbell will post 16.41 earnings per share for the current year.

Hubbell Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 30th were paid a $1.22 dividend. This represents a $4.88 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date was Friday, August 30th. Hubbell’s payout ratio is 36.39%.

Insider Transactions at Hubbell

In related news, Director Carlos M. Cardoso sold 450 shares of the firm’s stock in a transaction 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 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 document filed with the SEC, which can be accessed through this hyperlink. In other Hubbell news, Director Carlos M. Cardoso sold 450 shares of the stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $364.54, for a total transaction of $164,043.00. Following the completion of the transaction, the director now owns 1,670 shares in the company, valued at $608,781.80. This trade represents 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 available through this link. Also, CEO Gerben Bakker sold 15,677 shares of the business’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 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 ownership of the stock. The disclosure for this sale can be found here. 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 added to or reduced their stakes in HUBB. Nomura Holdings Inc. purchased a new stake in Hubbell during the 4th quarter valued at $358,000. Fulton Bank N.A. raised its stake in shares of Hubbell by 7.2% in the first quarter. Fulton Bank N.A. now owns 2,533 shares of the industrial products company’s stock valued at $1,051,000 after acquiring an additional 171 shares during the period. Czech National Bank lifted its holdings in shares of Hubbell by 0.4% in the 1st quarter. Czech National Bank now owns 9,435 shares of the industrial products company’s stock worth $3,916,000 after acquiring an additional 42 shares during the last quarter. Banque Cantonale Vaudoise lifted its holdings in shares of Hubbell by 118.0% in the 1st quarter. Banque Cantonale Vaudoise now owns 1,552 shares of the industrial products company’s stock worth $643,000 after acquiring an additional 840 shares during the last quarter. Finally, Park Avenue Securities LLC boosted its stake in shares of Hubbell by 47.9% during the 1st quarter. Park Avenue Securities LLC now owns 1,211 shares of the industrial products company’s stock worth $502,000 after purchasing an additional 392 shares during the period. 88.16% of the stock is currently owned by hedge funds and other institutional investors.

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.