Hubbell (NYSE:HUBB) Price Target Raised to $402.00 at Barclays

Hubbell (NYSE:HUBB) had its price target boosted by research analysts at Barclays from $400.00 to $402.00 in a report released on Wednesday, Benzinga reports. The firm presently has an “equal weight” rating on the industrial products company’s stock. Barclays‘s target price suggests a potential downside of 5.80% from the company’s current price.

Other research analysts have also issued research reports about the company. JPMorgan Chase & Co. lowered Hubbell from an “overweight” rating to a “neutral” rating and lifted their price target for the stock from $385.00 to $454.00 in a research report on Thursday, October 10th. Morgan Stanley began coverage on shares of Hubbell in a research note on Friday, September 6th. They set an “equal weight” rating and a $407.00 price target for the company. Stephens reaffirmed an “overweight” rating and set a $450.00 price target on shares of Hubbell in a research note on Friday, August 2nd. Mizuho boosted their price objective on shares of Hubbell from $450.00 to $490.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Finally, Wells Fargo & Company upped their price target on Hubbell from $445.00 to $455.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Hubbell has a consensus rating of “Moderate Buy” and a consensus target price of $434.38.

Hubbell Trading Down 1.1 %

HUBB opened at $426.76 on Wednesday. The firm has a market cap of $22.91 billion, a P/E ratio of 31.82, a P/E/G ratio of 1.66 and a beta of 0.90. Hubbell has a 12 month low of $248.37 and a 12 month high of $461.77. The company has a current ratio of 1.81, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62. The stock has a 50-day moving average of $419.94 and a 200 day moving average of $395.41.

Hubbell (NYSE:HUBB) last released its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $4.49 EPS for the quarter, topping the consensus estimate of $4.47 by $0.02. The company had revenue of $1.44 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 firm’s revenue was up 4.9% on a year-over-year basis. During the same quarter last year, the business posted $3.95 earnings per share. As a group, research analysts forecast that Hubbell will post 16.43 EPS for the current year.

Insider Activity

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 sale, the director now directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Hubbell news, CEO Gerben Bakker sold 15,677 shares of the company’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $374.34, for a total value of $5,868,528.18. Following the sale, the chief executive officer now directly owns 66,415 shares of the company’s stock, valued at approximately $24,861,791.10. This 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 can be accessed through this link. Also, Director Carlos M. Cardoso sold 450 shares of the company’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 sale, 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 ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.66% of the company’s stock.

Institutional Investors Weigh In On Hubbell

Several hedge funds have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp raised its position in shares of 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 worth $743,970,000 after acquiring an additional 291,850 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of Hubbell by 16.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,980,456 shares of the industrial products company’s stock worth $821,989,000 after acquiring an additional 286,134 shares during the period. International Assets Investment Management LLC raised its position in shares of 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 worth $8,223,740,000 after acquiring an additional 1,915,383 shares during the period. Massachusetts Financial Services Co. MA raised its position in shares of Hubbell by 3.6% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,335,218 shares of the industrial products company’s stock worth $487,995,000 after acquiring an additional 46,813 shares during the period. Finally, Impax Asset Management Group plc raised its position in shares of Hubbell by 30.3% in the third quarter. Impax Asset Management Group plc now owns 1,202,455 shares of the industrial products company’s stock worth $514,377,000 after acquiring an additional 279,654 shares during the period. 88.16% of the stock is owned by hedge funds and other institutional investors.

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.