Hubbell (NYSE:HUBB) PT Lowered to $397.00 at Wells Fargo & Company

Hubbell (NYSE:HUBB) had its target price reduced by stock analysts at Wells Fargo & Company from $435.00 to $397.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has an “equal weight” rating on the industrial products company’s stock. Wells Fargo & Company‘s target price suggests a potential upside of 6.45% from the company’s current price.

Other equities analysts also recently issued research reports about the stock. Barclays raised their target price on shares of Hubbell from $340.00 to $400.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 2nd. Mizuho lifted their price target on shares of Hubbell from $370.00 to $450.00 and gave the stock a “buy” rating in a research note on Wednesday, March 20th. Deutsche Bank Aktiengesellschaft started coverage on shares of Hubbell in a research note on Monday, March 11th. They set a “hold” rating and a $427.00 price target on the stock. Finally, StockNews.com downgraded shares of Hubbell from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Hubbell has a consensus rating of “Moderate Buy” and an average target price of $386.57.

Hubbell Stock Performance

NYSE:HUBB opened at $372.94 on Wednesday. The firm’s 50 day moving average is $397.77 and its two-hundred day moving average is $344.72. Hubbell has a fifty-two week low of $248.37 and a fifty-two week high of $429.61. The company has a quick ratio of 1.01, a current ratio of 1.66 and a debt-to-equity ratio of 0.64. The company has a market cap of $20.00 billion, a P/E ratio of 27.81, a P/E/G ratio of 2.26 and a beta of 0.96.

Hubbell (NYSE:HUBB) last issued its earnings results on Tuesday, April 30th. The industrial products company reported $3.60 EPS for the quarter, beating analysts’ consensus estimates of $3.54 by $0.06. Hubbell had a net margin of 13.23% and a return on equity of 29.55%. The business had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.39 billion. During the same quarter last year, the firm posted $3.61 EPS. The business’s revenue for the quarter was up 8.8% compared to the same quarter last year. Analysts expect that Hubbell will post 16.4 EPS for the current year.

Insider Activity

In other news, insider Mark Eugene Mikes sold 397 shares of Hubbell stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $363.45, for a total value of $144,289.65. Following the completion of the transaction, the insider now directly owns 4,899 shares of the company’s stock, valued at approximately $1,780,541.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Hubbell news, VP Katherine Anne Lane sold 1,468 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $3,297,731.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mark Eugene Mikes sold 397 shares of the business’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $363.45, for a total transaction of $144,289.65. Following the transaction, the insider now directly owns 4,899 shares of the company’s stock, valued at $1,780,541.55. The disclosure for this sale can be found here. In the last three months, insiders sold 4,747 shares of company stock valued at $1,693,364. Company insiders own 0.66% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Hubbell by 15.9% during the 4th quarter. Vanguard Group Inc. now owns 6,696,582 shares of the industrial products company’s stock worth $2,202,707,000 after buying an additional 918,808 shares in the last quarter. FMR LLC increased its position in shares of Hubbell by 2.9% in the third quarter. FMR LLC now owns 2,563,965 shares of the industrial products company’s stock worth $803,572,000 after acquiring an additional 71,962 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Hubbell by 14.2% in the first quarter. Bank of New York Mellon Corp now owns 1,743,746 shares of the industrial products company’s stock worth $723,741,000 after acquiring an additional 216,600 shares in the last quarter. International Assets Investment Management LLC increased its position in shares of Hubbell by 32,734.4% in the fourth quarter. International Assets Investment Management LLC now owns 1,472,949 shares of the industrial products company’s stock worth $484,497,000 after acquiring an additional 1,468,463 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its position in shares of Hubbell by 24.4% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,268,560 shares of the industrial products company’s stock worth $417,267,000 after acquiring an additional 248,493 shares in the last quarter. 88.16% of the stock is owned by institutional investors and hedge funds.

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.