Hubbell (NYSE:HUBB) PT Raised to $445.00

Hubbell (NYSE:HUBB - Free Report) had its price target hoisted by Wells Fargo & Company from $400.00 to $445.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage currently has an equal weight rating on the industrial products company's stock.

HUBB has been the subject of a number of other research reports. JPMorgan Chase & Co. upped their price target on Hubbell from $383.00 to $385.00 and gave the stock an overweight rating in a research report on Wednesday, July 31st. Morgan Stanley initiated coverage on shares of Hubbell in a report on Friday, September 6th. They issued an equal weight rating and a $407.00 target price for the company. Stephens restated an overweight rating and set a $450.00 target price on shares of Hubbell in a research note on Friday, August 2nd. Barclays upped their price target on shares of Hubbell from $368.00 to $400.00 and gave the stock an equal weight rating in a research report on Wednesday, October 2nd. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Hubbell from a hold rating to a buy rating and raised their price objective for the company from $431.00 to $441.00 in a research report on Friday, September 6th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, Hubbell currently has a consensus rating of Moderate Buy and an average price target of $414.50.

Hubbell Stock Performance

Shares of NYSE HUBB traded up $8.78 during midday trading on Monday, hitting $438.50. 491,262 shares of the company's stock traded hands, compared to its average volume of 448,930. The firm has a fifty day moving average of $394.44 and a 200 day moving average of $391.00. Hubbell has a 1 year low of $248.37 and a 1 year high of $439.16. 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 stock has a market capitalization of $23.54 billion, a price-to-earnings ratio of 32.70, a price-to-earnings-growth ratio of 1.56 and a beta of 0.90.

Hubbell (NYSE:HUBB - Get Free Report) last announced its earnings results on Tuesday, July 30th. The industrial products company reported $4.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.24 by $0.13. Hubbell had a net margin of 13.14% and a return on equity of 28.98%. The company had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.48 billion. During the same period in the previous year, the business posted $4.07 earnings per share. The firm's quarterly revenue was up 6.3% compared to the same quarter last year. On average, analysts forecast that Hubbell will post 16.45 earnings per share for the current year.

Hubbell Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were given a dividend of $1.22 per share. The ex-dividend date was Friday, August 30th. This represents a $4.88 dividend on an annualized basis and a dividend yield of 1.11%. Hubbell's payout ratio is 36.39%.

Insider Transactions at Hubbell

In other news, Director Carlos M. Cardoso sold 450 shares of the company's stock in a transaction that occurred 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 sale, the director now directly 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Hubbell news, Director Carlos M. Cardoso sold 450 shares of Hubbell 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 $608,781.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Gerben Bakker sold 15,677 shares of the company'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 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 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

Institutional investors have recently modified their holdings of the stock. CWM LLC raised its holdings 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 buying an additional 28 shares during the period. Meeder Advisory Services Inc. lifted its holdings in shares of 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 acquiring an additional 30 shares during the last quarter. Detalus Advisors LLC grew its holdings in Hubbell by 3.0% during the 2nd quarter. Detalus Advisors LLC now owns 1,030 shares of the industrial products company's stock valued at $377,000 after purchasing an additional 30 shares during the last quarter. Savant Capital LLC raised its position in Hubbell by 2.6% in the 2nd quarter. Savant Capital LLC now owns 1,205 shares of the industrial products company's stock worth $440,000 after purchasing an additional 31 shares during the period. Finally, Massmutual Trust Co. FSB ADV lifted its stake in Hubbell by 23.5% in the second quarter. Massmutual Trust Co. FSB ADV now owns 184 shares of the industrial products company's stock worth $67,000 after purchasing an additional 35 shares during the last quarter. 88.16% of the stock is owned by institutional investors.

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.