Wells Fargo & Company Boosts Hubbell (NYSE:HUBB) Price Target to $445.00

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

Several other brokerages have also recently commented on HUBB. 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 objective on Hubbell from $383.00 to $385.00 and gave the company an overweight rating in a research report on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft raised 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. Morgan Stanley started coverage on Hubbell in a research report on Friday, September 6th. They issued an equal weight rating and a $407.00 price objective for the company. Finally, Barclays raised their price objective on Hubbell from $368.00 to $400.00 and gave the company an equal weight rating in a research report on Wednesday, October 2nd. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average price target of $423.13.

Hubbell Stock Performance

Shares of NYSE HUBB opened at $443.50 on Monday. The stock has a 50 day moving average price of $398.01 and a 200 day moving average price of $391.93. Hubbell has a 52 week low of $248.37 and a 52 week high of $449.80. 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 $23.81 billion, a PE ratio of 32.78, a price-to-earnings-growth ratio of 1.67 and a beta of 0.90.

Hubbell (NYSE:HUBB) last issued its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $4.37 EPS for the quarter, beating the consensus estimate of $4.24 by $0.13. Hubbell had a return on equity of 28.98% and a net margin of 13.14%. The firm had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.48 billion. During the same period in the prior year, the firm posted $4.07 earnings per share. The business’s quarterly revenue was up 6.3% compared to the same quarter last year. Analysts predict that Hubbell will post 16.41 earnings per share for the current fiscal year.

Hubbell Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were paid 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 1.10%. Hubbell’s dividend payout ratio (DPR) is currently 36.07%.

Insider Transactions at Hubbell

In other news, Director Carlos M. Cardoso sold 450 shares of the 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 transaction, the director now owns 1,670 shares in the company, valued at approximately $608,781.80. This trade 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. In other Hubbell news, CEO Gerben Bakker sold 15,677 shares of the firm’s stock in a transaction on Friday, August 9th. The stock was 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 $24,861,791.10. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Carlos M. Cardoso sold 450 shares of the firm’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $364.54, for a total value of $164,043.00. Following the transaction, the director now owns 1,670 shares in the company, valued at approximately $608,781.80. 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 owned by corporate insiders.

Hedge Funds Weigh In On Hubbell

A number of hedge funds have recently added to or reduced their stakes in the stock. Nvwm LLC acquired a new stake in shares of Hubbell in the 1st quarter valued at $25,000. Riverview Trust Co acquired a new stake in shares of Hubbell in the 1st quarter valued at $52,000. Northwest Investment Counselors LLC acquired a new stake in shares of Hubbell in the 1st quarter valued at $56,000. Quarry LP acquired a new stake in shares of Hubbell in the 2nd quarter valued at $49,000. Finally, GAMMA Investing LLC boosted its holdings in shares of Hubbell by 84.7% in the 3rd quarter. GAMMA Investing LLC now owns 157 shares of the industrial products company’s stock valued at $67,000 after purchasing an additional 72 shares in the last quarter. Institutional investors own 88.16% of the company’s stock.

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.