Hubbell (NYSE:HUBB) Stock Price Expected to Rise, Morgan Stanley Analyst Says

Hubbell (NYSE:HUBB) had its price objective raised by equities research analysts at Morgan Stanley from $407.00 to $445.00 in a research report issued on Wednesday, Benzinga reports. The firm currently has an “equal weight” rating on the industrial products company’s stock. Morgan Stanley’s price target would suggest a potential upside of 4.27% from the company’s current price.

HUBB has been the subject of a number of other research reports. Deutsche Bank Aktiengesellschaft raised Hubbell from a “hold” rating to a “buy” rating and lifted their price target for the stock from $431.00 to $441.00 in a research report on Friday, September 6th. JPMorgan Chase & Co. lowered shares of Hubbell from an “overweight” rating to a “neutral” rating and raised their price target for the company from $385.00 to $454.00 in a research report on Thursday, October 10th. Wells Fargo & Company upped their price target on Hubbell from $445.00 to $455.00 and gave the stock an “equal weight” rating in a report on Wednesday. Barclays increased their price objective on shares of Hubbell from $400.00 to $402.00 and gave the company an “equal weight” rating in a report on Wednesday. Finally, Mizuho lifted their price target on Hubbell from $450.00 to $490.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. 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 has an average rating of “Moderate Buy” and an average price target of $434.38.

Hubbell Trading Down 1.1 %

Shares of NYSE HUBB opened at $426.76 on Wednesday. The business’s 50 day moving average price is $419.94 and its 200-day moving average price is $395.41. The company has a market cap of $22.91 billion, a price-to-earnings ratio of 31.69, a PEG ratio of 1.66 and a beta of 0.90. 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 fifty-two week low of $248.37 and a fifty-two week high of $461.77.

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

Insider Transactions at Hubbell

In related news, Director Carlos M. Cardoso sold 450 shares of the company’s stock in a transaction 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. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, 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 value of $5,868,528.18. Following the sale, the chief executive officer now owns 66,415 shares in the company, valued at $24,861,791.10. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Carlos M. Cardoso sold 450 shares of Hubbell 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 transaction, the director now directly owns 1,670 shares of the company’s stock, valued at approximately $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 Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. International Assets Investment Management LLC grew its stake in Hubbell by 42,735.0% in the 3rd quarter. International Assets Investment Management LLC now owns 1,919,865 shares of the industrial products company’s stock valued at $8,223,740,000 after acquiring an additional 1,915,383 shares during the last quarter. Impax Asset Management Group plc grew its position 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 purchasing an additional 322,728 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Hubbell by 16.7% during 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 in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Hubbell by 16.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,980,456 shares of the industrial products company’s stock worth $821,989,000 after purchasing an additional 286,134 shares during the last quarter. Finally, Ceredex Value Advisors LLC lifted its stake in Hubbell by 60.9% in the 2nd 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 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.