Hubbell Incorporated (NYSE:HUBB) Receives $404.88 Average Price Target from Brokerages

Shares of Hubbell Incorporated (NYSE:HUBB - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the nine ratings firms that are covering the firm, MarketBeat Ratings reports. Three analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $404.88.

A number of equities research analysts have weighed in on the company. Stephens reaffirmed an "overweight" rating and set a $450.00 target price on shares of Hubbell in a research report on Friday, August 2nd. Morgan Stanley started coverage on Hubbell in a report on Friday, September 6th. They issued an "equal weight" rating and a $407.00 price objective for the company. Deutsche Bank Aktiengesellschaft upgraded shares of Hubbell from a "hold" rating to a "buy" rating and increased their target price for the stock from $431.00 to $441.00 in a report on Friday, September 6th. Wells Fargo & Company boosted their price target on shares of Hubbell from $397.00 to $400.00 and gave the company an "equal weight" rating in a report on Wednesday, July 31st. Finally, Barclays dropped their price objective on shares of Hubbell from $384.00 to $368.00 and set an "equal weight" rating on the stock in a research note on Wednesday, July 31st.

Hubbell Trading Up 0.8 %

HUBB traded up $3.47 during trading hours on Friday, reaching $426.01. 690,423 shares of the company's stock traded hands, compared to its average volume of 455,555. The firm has a 50-day moving average price of $381.79 and a 200 day moving average price of $388.71. The firm has a market capitalization of $22.87 billion, a PE ratio of 31.77, a PEG ratio of 1.44 and a beta of 0.90. The company has a quick ratio of 1.13, a current ratio of 1.81 and a debt-to-equity ratio of 0.62. Hubbell has a 52-week low of $248.37 and a 52-week high of $429.61.

Hubbell (NYSE:HUBB - Get Free Report) last posted its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $4.37 EPS for the quarter, topping analysts' consensus estimates of $4.24 by $0.13. The firm had revenue of $1.45 billion for the quarter, compared to analysts' expectations of $1.48 billion. Hubbell had a net margin of 13.14% and a return on equity of 28.98%. The business's revenue for the quarter was up 6.3% on a year-over-year basis. During the same period in the prior year, the business posted $4.07 earnings per share. As a group, sell-side analysts predict that Hubbell will post 16.45 EPS for the current fiscal year.

Hubbell Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 30th were paid a $1.22 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $4.88 annualized dividend and a yield of 1.15%. Hubbell's dividend payout ratio (DPR) is 36.39%.

Insiders Place Their Bets

In other Hubbell news, CEO Gerben Bakker sold 15,677 shares of the stock in a transaction dated 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 sale, the chief executive officer now directly owns 66,415 shares in the company, valued at $24,861,791.10. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Hubbell news, CEO Gerben Bakker sold 15,677 shares of the company's stock in a transaction that occurred 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 approximately $24,861,791.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Carlos M. Cardoso sold 450 shares of Hubbell 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 sale, the director now owns 1,670 shares of the company's stock, valued at $608,781.80. The disclosure for this sale can be found here. Corporate insiders own 0.66% of the company's stock.

Institutional Trading of Hubbell

Several large investors have recently added to or reduced their stakes in HUBB. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Hubbell during the 2nd quarter valued at approximately $294,000. Sanctuary Advisors LLC acquired a new position in Hubbell during the second quarter valued at $2,176,000. Cetera Investment Advisers boosted its holdings in Hubbell by 8.2% in the second quarter. Cetera Investment Advisers now owns 6,484 shares of the industrial products company's stock valued at $2,370,000 after purchasing an additional 493 shares during the last quarter. Quarry LP acquired a new stake in Hubbell during the 2nd quarter worth about $49,000. Finally, Creative Planning raised its stake in shares of Hubbell by 31.9% during the 2nd quarter. Creative Planning now owns 3,473 shares of the industrial products company's stock valued at $1,269,000 after buying an additional 839 shares during the last quarter. Hedge funds and other 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.