Barclays Cuts Hubbell (NYSE:HUBB) Price Target to $384.00

Hubbell (NYSE:HUBB) had its price target cut by Barclays from $400.00 to $384.00 in a research report released on Thursday morning, Benzinga reports. They currently have an equal weight rating on the industrial products company’s stock.

A number of other analysts also recently issued reports on HUBB. StockNews.com lowered shares of Hubbell from a buy rating to a hold rating in a research report on Friday, February 2nd. Deutsche Bank Aktiengesellschaft started coverage on Hubbell in a research report on Monday, March 11th. They set a hold rating and a $427.00 price target on the stock. Wells Fargo & Company dropped their price objective on Hubbell from $435.00 to $397.00 and set an equal weight rating for the company in a report on Wednesday, May 1st. Finally, Mizuho upped their target price on Hubbell from $370.00 to $450.00 and gave the company a buy rating in a research report on Wednesday, March 20th. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus target price of $386.57.

Hubbell Price Performance

Shares of NYSE HUBB opened at $379.89 on Thursday. The firm has a market cap of $20.37 billion, a P/E ratio of 28.33, a price-to-earnings-growth ratio of 1.47 and a beta of 0.96. The business’s 50 day moving average is $398.06 and its 200-day moving average is $345.96. The company has a current ratio of 1.66, a quick ratio of 1.01 and a debt-to-equity ratio of 0.64. Hubbell has a 1-year low of $248.37 and a 1-year high of $429.61.

Hubbell (NYSE:HUBB) last posted its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $3.60 earnings per share for the quarter, topping the consensus estimate of $3.54 by $0.06. The firm had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.39 billion. Hubbell had a return on equity of 29.55% and a net margin of 13.23%. The company’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same quarter last year, the business earned $3.61 EPS. Equities research analysts predict that Hubbell will post 16.35 earnings per share for the current year.

Hubbell Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Friday, May 31st will be paid a dividend of $1.22 per share. This represents a $4.88 annualized dividend and a yield of 1.28%. The ex-dividend date of this dividend is Thursday, May 30th. Hubbell’s payout ratio is presently 36.39%.

Insider Activity

In related news, VP Katherine Anne Lane sold 1,468 shares of the company’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $352.51, for a total transaction of $517,484.68. Following the completion of the sale, the vice president now directly owns 9,355 shares in the company, valued at approximately $3,297,731.05. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, VP Katherine Anne Lane sold 1,468 shares of the company’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $352.51, for a total transaction of $517,484.68. Following the completion of the transaction, the vice president now directly owns 9,355 shares in the company, valued at approximately $3,297,731.05. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Mark Eugene Mikes sold 397 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $363.45, for a total transaction of $144,289.65. Following the completion of the sale, the insider now owns 4,899 shares in the company, valued at approximately $1,780,541.55. The disclosure for this sale can be found here. In the last quarter, insiders have sold 4,747 shares of company stock worth $1,693,364. Insiders own 0.66% of the company’s stock.

Hedge Funds Weigh In On Hubbell

A number of institutional investors and hedge funds have recently bought and sold shares of HUBB. EverSource Wealth Advisors LLC boosted its stake in shares of Hubbell by 1,850.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 78 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 74 shares in the last quarter. Lindbrook Capital LLC raised its position in shares of Hubbell by 127.5% in the 4th quarter. Lindbrook Capital LLC now owns 91 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 51 shares in the last quarter. Baillie Gifford & Co. acquired a new position in shares of Hubbell in the 4th quarter valued at about $33,000. Principal Securities Inc. bought a new stake in shares of Hubbell during the 4th quarter valued at about $40,000. Finally, Riverview Trust Co acquired a new stake in Hubbell during the first quarter worth approximately $52,000. Institutional investors and hedge funds 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.