Hubbell (NYSE:HUBB) Price Target Increased to $400.00 by Analysts at Barclays

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

A number of other equities analysts have also recently issued reports on the company. Stephens restated an overweight rating and set a $450.00 price target on shares of Hubbell in a report on Friday, August 2nd. Morgan Stanley began coverage on shares of Hubbell in a research report on Friday, September 6th. They set an equal weight rating and a $407.00 target price on the stock. 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 report on Wednesday, July 31st. Wells Fargo & Company upped their price objective 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, Deutsche Bank Aktiengesellschaft raised shares of Hubbell from a hold rating to a buy rating and increased their price objective for the stock from $431.00 to $441.00 in a research report on Friday, September 6th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and an average target price of $408.88.

Hubbell Price Performance

Shares of NYSE HUBB opened at $429.72 on Wednesday. The company has a market capitalization of $23.07 billion, a PE ratio of 32.04, a P/E/G ratio of 1.56 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 twelve month low of $248.37 and a twelve month high of $433.03. The firm has a fifty day simple moving average of $393.01 and a 200 day simple moving average of $390.94.

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

Hubbell Announces Dividend

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

Insider Buying and Selling

In other Hubbell news, CEO Gerben Bakker sold 15,677 shares of Hubbell stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 66,415 shares in the company, valued at approximately $24,861,791.10. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Gerben Bakker sold 15,677 shares of the firm’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 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Carlos M. Cardoso sold 450 shares of Hubbell stock in a transaction that occurred 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 transaction, the director now directly owns 1,670 shares in the company, valued at approximately $608,781.80. The trade was 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 company insiders.

Institutional Trading of Hubbell

Several institutional investors and hedge funds have recently made changes to their positions in the company. Nordea Investment Management AB grew its position in Hubbell by 4.1% in the 1st quarter. Nordea Investment Management AB now owns 160,085 shares of the industrial products company’s stock worth $66,571,000 after purchasing an additional 6,275 shares in the last quarter. IFG Advisory LLC bought a new position in shares of Hubbell in the second quarter valued at approximately $475,000. Point72 Asset Management L.P. grew its holdings in shares of Hubbell by 4,414.0% in the fourth quarter. Point72 Asset Management L.P. now owns 242,855 shares of the industrial products company’s stock valued at $79,882,000 after acquiring an additional 237,475 shares in the last quarter. Vaughan Nelson Investment Management L.P. increased its position in shares of Hubbell by 81.0% during the first quarter. Vaughan Nelson Investment Management L.P. now owns 54,365 shares of the industrial products company’s stock valued at $22,565,000 after acquiring an additional 24,321 shares during the last quarter. Finally, New Mexico Educational Retirement Board lifted its holdings in Hubbell by 304.6% during the first quarter. New Mexico Educational Retirement Board now owns 11,287 shares of the industrial products company’s stock worth $4,685,000 after acquiring an additional 8,497 shares during the period. Hedge funds and other 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.