Hubbell (NYSE:HUBB) Given New $402.00 Price Target at Barclays

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

Other analysts have also issued reports about the stock. Wells Fargo & Company increased their target price on shares of Hubbell from $445.00 to $455.00 and gave the company an “equal weight” rating in a research note on Wednesday. Deutsche Bank Aktiengesellschaft upgraded shares of 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 report on Friday, September 6th. JPMorgan Chase & Co. downgraded shares of Hubbell from an “overweight” rating to a “neutral” rating and upped their price target for the company from $385.00 to $454.00 in a research report on Thursday, October 10th. Stephens restated an “overweight” rating and issued a $450.00 price target on shares of Hubbell in a research report on Friday, August 2nd. Finally, Mizuho upped their price target on shares of Hubbell from $450.00 to $490.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Five 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 has a consensus rating of “Moderate Buy” and an average price target of $434.38.

Hubbell Stock Down 1.9 %

HUBB stock opened at $431.66 on Wednesday. Hubbell has a 12 month low of $248.37 and a 12 month high of $461.77. The firm has a market cap of $23.17 billion, a PE ratio of 32.19, a P/E/G ratio of 1.66 and a beta of 0.90. The firm has a 50 day simple moving average of $418.82 and a 200 day simple moving average of $395.15. 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 released its earnings results on Tuesday, October 29th. The industrial products company reported $4.49 EPS 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 business had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.48 billion. During the same period in the prior year, the business earned $3.95 earnings per share. The business’s quarterly revenue was up 4.9% on a year-over-year basis. Equities research analysts forecast that Hubbell will post 16.43 earnings per share for the current fiscal year.

Hubbell Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be paid a $1.32 dividend. This represents a $5.28 annualized dividend and a yield of 1.22%. The ex-dividend date is Friday, November 29th. This is a positive change from Hubbell’s previous quarterly dividend of $1.22. Hubbell’s dividend payout ratio is currently 36.39%.

Insider Buying and Selling at Hubbell

In other Hubbell news, Director Carlos M. Cardoso sold 450 shares of the company’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 transaction, the director now owns 1,670 shares in the company, valued at approximately $608,781.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Gerben Bakker sold 15,677 shares of the stock in a transaction on 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 transaction, 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Carlos M. Cardoso sold 450 shares of the 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 in the company, valued at approximately $608,781.80. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.66% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of HUBB. International Assets Investment Management LLC boosted its holdings in shares of Hubbell by 42,735.0% during the 3rd 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. Impax Asset Management Group plc boosted its holdings in shares of Hubbell by 53.8% during the 2nd quarter. Impax Asset Management Group plc now owns 922,801 shares of the industrial products company’s stock worth $336,984,000 after buying an additional 322,728 shares during the period. Bank of New York Mellon Corp boosted its holdings 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 buying an additional 291,850 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings 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 buying an additional 286,134 shares during the period. Finally, Ceredex Value Advisors LLC boosted its holdings in shares of Hubbell by 60.9% during the 2nd quarter. Ceredex Value Advisors LLC now owns 204,720 shares of the industrial products company’s stock worth $74,821,000 after buying an additional 77,500 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.