Hubbell (NYSE:HUBB) Price Target Raised to $400.00 at Barclays

Hubbell (NYSE:HUBB) had its price target upped by Barclays from $368.00 to $400.00 in a research report released on Wednesday morning, Benzinga reports. Barclays currently has an equal weight rating on the industrial products company’s stock.

A number of other analysts also recently weighed in on HUBB. Deutsche Bank Aktiengesellschaft raised shares of Hubbell from a hold rating to a buy rating and raised their price target for the stock from $431.00 to $441.00 in a research report on Friday, September 6th. Morgan Stanley assumed coverage on shares of Hubbell in a research report on Friday, September 6th. They set an equal weight rating and a $407.00 price target for the company. Stephens reissued an overweight rating and set a $450.00 price target on shares of Hubbell in a research report on Friday, August 2nd. JPMorgan Chase & Co. raised their price target on shares of Hubbell from $383.00 to $385.00 and gave the stock an overweight rating in a research report on Wednesday, July 31st. Finally, Wells Fargo & Company raised their price target on shares of Hubbell from $397.00 to $400.00 and gave the stock an equal weight rating in a research report on Wednesday, July 31st. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $408.88.

Hubbell Trading Up 0.9 %

HUBB opened at $429.72 on Wednesday. The firm has a market capitalization of $23.07 billion, a P/E ratio of 32.04, a P/E/G ratio of 1.56 and a beta of 0.90. The firm’s 50 day moving average is $393.01 and its 200-day moving average is $390.98. Hubbell has a 52-week low of $248.37 and a 52-week high of $433.03. 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 (NYSE:HUBB) last posted its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $4.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.24 by $0.13. The company had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.48 billion. Hubbell had a net margin of 13.14% and a return on equity of 28.98%. The business’s quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter last year, the firm posted $4.07 earnings per share. Analysts expect that Hubbell will post 16.45 EPS for the current fiscal year.

Hubbell Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 30th were issued a $1.22 dividend. This represents a $4.88 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date of this dividend was Friday, August 30th. Hubbell’s dividend payout ratio is presently 36.39%.

Insiders Place Their Bets

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 owns 1,670 shares of the company’s stock, valued at $608,781.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, Director Carlos M. Cardoso sold 450 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were 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 owns 1,670 shares of the company’s stock, valued at approximately $608,781.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Gerben Bakker sold 15,677 shares of the business’s 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 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 position. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Hubbell

Hedge funds and other institutional investors have recently modified their holdings of the stock. Nvwm LLC purchased a new position in Hubbell during the 1st quarter valued at about $25,000. Quarry LP bought a new stake in shares of Hubbell in the second quarter valued at approximately $49,000. Riverview Trust Co bought a new position in Hubbell in the first quarter worth $52,000. Northwest Investment Counselors LLC bought a new position in Hubbell in the first quarter worth $56,000. Finally, Ashton Thomas Private Wealth LLC bought a new position in Hubbell in the second quarter worth $62,000. 88.16% of the stock is currently 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.