Hubbell (NYSE:HUBB) Price Target Raised to $431.00

Hubbell (NYSE:HUBB) had its target price increased by Barclays from $420.00 to $431.00 in a report published on Friday morning,Benzinga reports. Barclays currently has an equal weight rating on the industrial products company’s stock.

HUBB has been the subject of a number of other reports. JPMorgan Chase & Co. lifted their target price on shares of Hubbell from $352.00 to $417.00 and gave the stock a “neutral” rating in a research note on Friday, May 16th. Wells Fargo & Company lifted their price objective on shares of Hubbell from $420.00 to $445.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 30th. Finally, Wall Street Zen downgraded Hubbell from a “buy” rating to a “hold” rating in a research report on Friday, April 11th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Hubbell has an average rating of “Hold” and a consensus price target of $462.29.

Hubbell Price Performance

NYSE HUBB opened at $426.27 on Friday. The company has a market cap of $22.75 billion, a PE ratio of 27.68, a P/E/G ratio of 2.39 and a beta of 0.99. The firm’s 50 day moving average price is $408.97 and its 200-day moving average price is $382.85. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.76 and a current ratio of 1.30. Hubbell has a 52-week low of $299.42 and a 52-week high of $481.35.

Hubbell (NYSE:HUBB) last issued its quarterly earnings data on Tuesday, July 29th. The industrial products company reported $4.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.36 by $0.57. Hubbell had a net margin of 14.76% and a return on equity of 27.63%. The firm had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.51 billion. Sell-side analysts forecast that Hubbell will post 17.63 EPS for the current fiscal year.

Hubbell Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 29th will be paid a dividend of $1.32 per share. The ex-dividend date is Friday, August 29th. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.2%. Hubbell’s dividend payout ratio (DPR) is presently 34.29%.

Insider Transactions at Hubbell

In related news, Director Carlos M. Cardoso sold 400 shares of the business’s stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $386.29, for a total value of $154,516.00. Following the completion of the transaction, the director directly owned 1,727 shares in the company, valued at $667,122.83. The trade was a 18.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Gerben Bakker sold 7,723 shares of the company’s stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $384.63, for a total transaction of $2,970,497.49. Following the completion of the transaction, the chief executive officer owned 82,101 shares of the company’s stock, valued at approximately $31,578,507.63. This trade represents a 8.60% decrease in their position. The disclosure for this sale can be found here. 0.76% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of HUBB. Central Pacific Bank Trust Division acquired a new position in Hubbell during the second quarter worth about $29,000. Cullen Frost Bankers Inc. lifted its stake in Hubbell by 400.0% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 85 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 68 shares in the last quarter. Tsfg LLC acquired a new position in shares of Hubbell during the 1st quarter worth approximately $30,000. Johnson Financial Group Inc. grew its position in shares of Hubbell by 166.7% in the fourth quarter. Johnson Financial Group Inc. now owns 104 shares of the industrial products company’s stock valued at $44,000 after purchasing an additional 65 shares in the last quarter. Finally, CX Institutional purchased a new stake in shares of Hubbell in the first quarter valued at approximately $49,000. Institutional investors and hedge funds 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.