Barclays Boosts Hubbell (NYSE:HUBB) Price Target to $402.00

Hubbell (NYSE:HUBB - Free Report) had its price target increased by Barclays from $400.00 to $402.00 in a report released on Wednesday, Benzinga reports. They currently have an equal weight rating on the industrial products company's stock.

A number of other research analysts also recently weighed in on HUBB. Morgan Stanley assumed coverage on Hubbell in a research note on Friday, September 6th. They set an "equal weight" rating and a $407.00 price target on the stock. Deutsche Bank Aktiengesellschaft raised Hubbell from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $431.00 to $441.00 in a report on Friday, September 6th. Wells Fargo & Company boosted their price objective on Hubbell from $445.00 to $455.00 and gave the stock an "equal weight" rating in a report on Wednesday. Mizuho boosted their price objective on Hubbell from $450.00 to $490.00 and gave the stock an "outperform" rating in a report on Thursday, October 17th. Finally, JPMorgan Chase & Co. lowered Hubbell from an "overweight" rating to a "neutral" rating and boosted their price objective for the stock from $385.00 to $454.00 in a report on Thursday, October 10th. Five equities research 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, the company has a consensus rating of "Moderate Buy" and an average price target of $434.38.

Hubbell Trading Down 1.9 %

Shares of NYSE:HUBB traded down $8.46 during midday trading on Wednesday, reaching $431.66. The company's stock had a trading volume of 469,666 shares, compared to its average volume of 442,461. The firm has a market capitalization of $23.17 billion, a price-to-earnings ratio of 32.40, 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. The firm has a 50 day moving average price of $418.82 and a two-hundred day moving average price of $395.15. Hubbell has a fifty-two week low of $248.37 and a fifty-two week high of $461.77.

Hubbell (NYSE:HUBB - Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $4.49 earnings per share for the quarter, topping analysts' consensus estimates of $4.47 by $0.02. Hubbell had a return on equity of 28.98% and a net margin of 13.14%. The business had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.48 billion. During the same period in the prior year, the business earned $3.95 EPS. The firm's revenue for the quarter was up 4.9% on a year-over-year basis. As a group, analysts forecast that Hubbell will post 16.43 earnings per share for the current year.

Hubbell Increases Dividend

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

Insider Activity

In other 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 completion of the transaction, the chief executive officer now directly owns 66,415 shares of the company's stock, valued at $24,861,791.10. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Hubbell news, 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 completion of 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 value of $5,868,528.18. Following the transaction, the chief executive officer now directly owns 66,415 shares of the company's stock, valued at approximately $24,861,791.10. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Hubbell

Several institutional investors and hedge funds have recently bought and sold shares of HUBB. Nvwm LLC purchased a new stake in shares of Hubbell during the first quarter worth $25,000. Quarry LP purchased a new stake in shares of Hubbell during the second quarter worth $49,000. Northwest Investment Counselors LLC purchased a new stake in shares of Hubbell during the third quarter worth $58,000. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Hubbell during the second quarter worth $62,000. Finally, Massmutual Trust Co. FSB ADV lifted its position in shares of Hubbell by 23.5% during the second quarter. Massmutual Trust Co. FSB ADV now owns 184 shares of the industrial products company's stock worth $67,000 after acquiring an additional 35 shares in the last quarter. 88.16% of the stock is owned by institutional investors.

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.