UBS Group Boosts Hubbell (NYSE:HUBB) Price Target to $254.00

Hubbell (NYSE:HUBBGet Rating) had its price objective increased by UBS Group from $200.00 to $254.00 in a report issued on Thursday, The Fly reports. They currently have a neutral rating on the industrial products company’s stock.

Other research analysts have also issued reports about the company. Mizuho upped their price target on Hubbell from $220.00 to $252.00 and gave the stock a buy rating in a report on Wednesday, October 26th. Wells Fargo & Company upped their price target on Hubbell from $196.00 to $215.00 and gave the stock an equal weight rating in a report on Thursday, October 27th. StockNews.com lowered Hubbell from a strong-buy rating to a buy rating in a report on Thursday, October 6th. Morgan Stanley upped their price target on Hubbell from $219.00 to $226.00 and gave the stock an equal weight rating in a report on Wednesday, October 26th. Finally, JPMorgan Chase & Co. lowered Hubbell from an overweight rating to an underweight rating and set a $200.00 target price for the company. in a research note on Wednesday, October 19th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of Hold and a consensus price target of $229.40.

Hubbell Stock Up 1.5 %

Shares of Hubbell stock opened at $253.49 on Thursday. The stock has a market capitalization of $13.61 billion, a P/E ratio of 24.66, a PEG ratio of 2.40 and a beta of 1.04. The company has a quick ratio of 1.18, a current ratio of 1.88 and a debt-to-equity ratio of 0.62. The stock has a 50 day moving average price of $231.11 and a two-hundred day moving average price of $209.42. Hubbell has a 12-month low of $170.21 and a 12-month high of $257.99.

Hubbell (NYSE:HUBBGet Rating) last announced its earnings results on Tuesday, October 25th. The industrial products company reported $3.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.73 by $0.35. The firm had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.25 billion. Hubbell had a return on equity of 24.17% and a net margin of 11.57%. Equities analysts expect that Hubbell will post 10.41 earnings per share for the current year.

Hubbell Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Wednesday, November 30th will be paid a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a dividend yield of 1.77%. This is a positive change from Hubbell’s previous quarterly dividend of $1.05. The ex-dividend date is Tuesday, November 29th. Hubbell’s dividend payout ratio is presently 40.86%.

Insider Buying and Selling at Hubbell

In other Hubbell news, CFO William R. Sperry sold 18,878 shares of the company’s stock in a transaction on Friday, October 28th. The stock was sold at an average price of $239.69, for a total value of $4,524,867.82. Following the sale, the chief financial officer now directly owns 46,292 shares in the company, valued at $11,095,729.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.82% of the company’s stock.

Institutional Trading of Hubbell

Large investors have recently bought and sold shares of the stock. Glenmede Trust Co. NA grew its holdings in shares of Hubbell by 2.8% during the third quarter. Glenmede Trust Co. NA now owns 9,631 shares of the industrial products company’s stock worth $2,147,000 after purchasing an additional 260 shares during the last quarter. Captrust Financial Advisors grew its holdings in shares of Hubbell by 3.2% during the third quarter. Captrust Financial Advisors now owns 3,688 shares of the industrial products company’s stock worth $822,000 after purchasing an additional 113 shares during the last quarter. Almanack Investment Partners LLC. bought a new stake in shares of Hubbell during the third quarter worth $104,000. CIBC Private Wealth Group LLC grew its holdings in shares of Hubbell by 0.9% during the third quarter. CIBC Private Wealth Group LLC now owns 93,352 shares of the industrial products company’s stock worth $20,818,000 after purchasing an additional 830 shares during the last quarter. Finally, Jane Street Group LLC grew its holdings in shares of Hubbell by 1,395.1% during the third quarter. Jane Street Group LLC now owns 109,444 shares of the industrial products company’s stock worth $24,406,000 after purchasing an additional 102,124 shares during the last quarter. 88.91% of the stock is currently owned by institutional investors.

Hubbell Company Profile

(Get Rating)

Hubbell Incorporated, together with its subsidiaries, designs, manufactures, and sells electrical and electronic products in the United States and internationally. It operates through two segments, Electrical Solution and Utility Solution. 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 for the natural gas distribution market.

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