Hubbell (NYSE:HUBB) Given New $352.00 Price Target at JPMorgan Chase & Co.

Hubbell (NYSE:HUBB - Free Report) had its price target decreased by JPMorgan Chase & Co. from $430.00 to $352.00 in a report published on Tuesday,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the industrial products company's stock.

A number of other brokerages also recently commented on HUBB. StockNews.com raised shares of Hubbell from a "hold" rating to a "buy" rating in a research report on Thursday, April 3rd. Barclays dropped their target price on Hubbell from $422.00 to $400.00 and set an "equal weight" rating on the stock in a report on Wednesday, March 26th. Finally, Wells Fargo & Company decreased their price target on Hubbell from $455.00 to $450.00 and set an "equal weight" rating for the company in a report on Tuesday, January 7th. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $449.38.

Hubbell Stock Up 3.5 %

Shares of NYSE HUBB traded up $11.89 during mid-day trading on Tuesday, hitting $353.73. The company had a trading volume of 1,052,242 shares, compared to its average volume of 513,672. Hubbell has a 1-year low of $299.43 and a 1-year high of $481.35. The company has a market capitalization of $18.98 billion, a PE ratio of 24.63, a price-to-earnings-growth ratio of 1.34 and a beta of 0.95. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.64 and a quick ratio of 0.98. The business's 50-day simple moving average is $356.69 and its 200 day simple moving average is $411.91.

Hubbell (NYSE:HUBB - Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $4.10 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.02 by $0.08. Hubbell had a return on equity of 28.62% and a net margin of 13.82%. The company had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.41 billion. During the same quarter last year, the company earned $3.69 EPS. Hubbell's revenue for the quarter was down .9% compared to the same quarter last year. On average, analysts predict that Hubbell will post 17.63 earnings per share for the current year.

Hubbell Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, February 28th were given a dividend of $1.32 per share. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date was Friday, February 28th. Hubbell's dividend payout ratio (DPR) is currently 36.77%.

Hubbell announced that its Board of Directors has initiated a share repurchase plan on Wednesday, February 12th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the industrial products company to repurchase up to 2.4% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's leadership believes its shares are undervalued.

Insider Buying and Selling

In other Hubbell news, insider Alyssa R. Flynn sold 1,164 shares of the business's stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $389.06, for a total value of $452,865.84. Following the completion of the sale, the insider now owns 4,327 shares in the company, valued at approximately $1,683,462.62. The trade was a 21.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.66% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Hubbell

A number of institutional investors have recently modified their holdings of HUBB. Janus Henderson Group PLC increased its stake in Hubbell by 11.1% in the third quarter. Janus Henderson Group PLC now owns 7,007 shares of the industrial products company's stock valued at $3,001,000 after purchasing an additional 700 shares during the period. Quantinno Capital Management LP grew its holdings in shares of Hubbell by 12.3% during the third quarter. Quantinno Capital Management LP now owns 6,829 shares of the industrial products company's stock worth $2,926,000 after buying an additional 750 shares during the last quarter. National Bank of Canada FI increased its position in Hubbell by 47.8% in the 3rd quarter. National Bank of Canada FI now owns 21,808 shares of the industrial products company's stock valued at $9,341,000 after acquiring an additional 7,052 shares during the period. Nomura Asset Management Co. Ltd. raised its stake in Hubbell by 6.4% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 16,001 shares of the industrial products company's stock valued at $6,854,000 after acquiring an additional 957 shares during the last quarter. Finally, Groupama Asset Managment grew its stake in shares of Hubbell by 17.0% in the 3rd quarter. Groupama Asset Managment now owns 6,955 shares of the industrial products company's stock valued at $30,000 after purchasing an additional 1,010 shares during the last quarter. 88.16% of the stock is owned by institutional investors and hedge funds.

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.