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

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

A number of other equities research analysts also recently weighed in on the stock. Wells Fargo & Company raised their target price on shares of Hubbell from $400.00 to $445.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. JPMorgan Chase & Co. cut shares of Hubbell from an “overweight” rating to a “neutral” rating and raised their price objective for the company from $385.00 to $454.00 in a research report on Thursday, October 10th. Morgan Stanley initiated coverage on shares of Hubbell in a research report on Friday, September 6th. They issued an “equal weight” rating and a $407.00 target price for the company. Barclays raised their price target on Hubbell from $368.00 to $400.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 2nd. Finally, Stephens reiterated an “overweight” rating and issued a $450.00 price objective on shares of Hubbell in a report on Friday, August 2nd. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $428.13.

Hubbell Stock Down 0.2 %

HUBB opened at $456.81 on Thursday. The firm has a market capitalization of $24.52 billion, a P/E ratio of 34.06, a price-to-earnings-growth ratio of 1.67 and a beta of 0.90. Hubbell has a one year low of $248.37 and a one year high of $461.77. The company has a fifty day moving average price of $408.72 and a 200-day moving average price of $393.51. 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 (NYSE:HUBB) last posted its earnings results on Tuesday, July 30th. The industrial products company reported $4.37 EPS for the quarter, topping the consensus estimate of $4.24 by $0.13. Hubbell had a return on equity of 28.98% and a net margin of 13.14%. The business had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.48 billion. During the same period in the previous year, the business earned $4.07 earnings per share. The firm’s revenue was up 6.3% on a year-over-year basis. Equities research analysts expect that Hubbell will post 16.41 earnings per share for the current fiscal year.

Hubbell Dividend Announcement

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

Insider Activity at Hubbell

In other Hubbell news, Director Carlos M. Cardoso sold 450 shares of Hubbell stock in a transaction that occurred 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 $608,781.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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 sale, 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 position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Gerben Bakker sold 15,677 shares of the business’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 transaction, the chief executive officer now owns 66,415 shares in the company, 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. 0.66% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of HUBB. OLD National Bancorp IN increased its stake in shares of Hubbell by 3.8% during the third quarter. OLD National Bancorp IN now owns 596 shares of the industrial products company’s stock valued at $255,000 after buying an additional 22 shares during the period. CWM LLC increased its position in Hubbell by 2.2% during the 2nd quarter. CWM LLC now owns 1,319 shares of the industrial products company’s stock valued at $482,000 after purchasing an additional 28 shares during the period. Meeder Advisory Services Inc. raised its holdings in Hubbell by 3.8% in the 1st quarter. Meeder Advisory Services Inc. now owns 816 shares of the industrial products company’s stock worth $339,000 after purchasing an additional 30 shares in the last quarter. Detalus Advisors LLC lifted its position in shares of Hubbell by 3.0% in the 2nd quarter. Detalus Advisors LLC now owns 1,030 shares of the industrial products company’s stock worth $377,000 after purchasing an additional 30 shares during the period. Finally, Savant Capital LLC boosted its stake in shares of Hubbell by 2.6% during the 2nd quarter. Savant Capital LLC now owns 1,205 shares of the industrial products company’s stock valued at $440,000 after purchasing an additional 31 shares in the last quarter. Institutional investors own 88.16% of the company’s stock.

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.