Hubbell (NYSE:HUBB) Price Target Raised to $475.00 at Barclays

Hubbell (NYSE:HUBB) had its price target increased by Barclays from $402.00 to $475.00 in a report issued on Thursday,Benzinga reports. The firm currently has an equal weight rating on the industrial products company’s stock.

Several other analysts also recently issued reports on HUBB. StockNews.com downgraded shares of Hubbell from a “buy” rating to a “hold” rating in a report on Tuesday. Sanford C. Bernstein began coverage on shares of Hubbell in a report on Tuesday, November 5th. They issued an “outperform” rating and a $535.00 price target for the company. Wells Fargo & Company increased their price target on shares of Hubbell from $445.00 to $455.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Morgan Stanley increased their price target on shares of Hubbell from $407.00 to $445.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. downgraded shares of Hubbell from an “overweight” rating to a “neutral” rating and increased their price target for the company from $385.00 to $454.00 in a report on Thursday, October 10th. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $457.22.

Hubbell Stock Performance

Shares of HUBB opened at $466.76 on Thursday. The company’s fifty day moving average is $448.62 and its 200-day moving average is $406.07. Hubbell has a 12 month low of $300.54 and a 12 month high of $481.35. The firm has a market cap of $25.05 billion, a price-to-earnings ratio of 33.63, a price-to-earnings-growth ratio of 1.70 and a beta of 0.91. The company has a quick ratio of 1.05, a current ratio of 1.66 and a debt-to-equity ratio of 0.51.

Hubbell (NYSE:HUBB) last posted its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $4.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.47 by $0.02. The business had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.48 billion. Hubbell had a net margin of 13.33% and a return on equity of 28.81%. Hubbell’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.95 EPS. Equities analysts expect that Hubbell will post 16.47 EPS for the current fiscal year.

Hubbell Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be issued a dividend of $1.32 per share. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.13%. This is an increase from Hubbell’s previous quarterly dividend of $1.22. The ex-dividend date is Friday, November 29th. Hubbell’s dividend payout ratio (DPR) is presently 38.04%.

Insider Transactions at Hubbell

In other Hubbell news, insider Mark Eugene Mikes sold 1,144 shares of the firm’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $466.20, for a total value of $533,332.80. Following the completion of the sale, the insider now owns 2,957 shares in the company, valued at approximately $1,378,553.40. This trade represents a 27.90 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.66% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Mizuho Securities USA LLC boosted its stake in shares of Hubbell by 192,421.1% in the 3rd quarter. Mizuho Securities USA LLC now owns 7,980,000 shares of the industrial products company’s stock valued at $3,418,233,000 after purchasing an additional 7,975,855 shares during the last quarter. State Street Corp lifted its stake in Hubbell by 1.1% in the third quarter. State Street Corp now owns 2,092,215 shares of the industrial products company’s stock valued at $896,200,000 after buying an additional 22,507 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Hubbell by 16.7% in the second quarter. Bank of New York Mellon Corp now owns 2,035,596 shares of the industrial products company’s stock valued at $743,970,000 after buying an additional 291,850 shares in the last quarter. International Assets Investment Management LLC lifted its stake in Hubbell by 42,735.0% in the third quarter. International Assets Investment Management LLC now owns 1,919,865 shares of the industrial products company’s stock valued at $8,223,740,000 after buying an additional 1,915,383 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its stake in Hubbell by 6.2% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,417,476 shares of the industrial products company’s stock valued at $607,176,000 after buying an additional 82,258 shares in the last quarter. 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.