Hubbell (NYSE:HUBB) Price Target Raised to $385.00

Hubbell (NYSE:HUBB) had its price target upped by JPMorgan Chase & Co. from $383.00 to $385.00 in a report released on Wednesday morning, Benzinga reports. The brokerage currently has an overweight rating on the industrial products company’s stock.

Several other research firms have also weighed in on HUBB. Wells Fargo & Company lifted their price objective on Hubbell from $397.00 to $400.00 and gave the company an equal weight rating in a research note on Wednesday. Barclays decreased their price objective on shares of Hubbell from $400.00 to $384.00 and set an equal weight rating for the company in a research note on Thursday, May 2nd. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Hubbell has an average rating of Moderate Buy and an average price target of $391.86.

Hubbell Price Performance

HUBB opened at $395.65 on Wednesday. Hubbell has a 1 year low of $248.37 and a 1 year high of $429.61. The company’s 50 day simple moving average is $378.00 and its 200 day simple moving average is $380.10. The stock has a market capitalization of $21.24 billion, a PE ratio of 29.50, a P/E/G ratio of 1.40 and a beta of 0.90. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.03 and a current ratio of 1.81.

Hubbell (NYSE:HUBB) last announced its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $4.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.24 by $0.13. The company had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.48 billion. Hubbell had a net margin of 13.14% and a return on equity of 28.98%. The business’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same period in the previous year, the company earned $4.07 EPS. As a group, sell-side analysts expect that Hubbell will post 16.33 EPS for the current year.

Hubbell Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Friday, August 30th will be paid a $1.22 dividend. The ex-dividend date is Friday, August 30th. This represents a $4.88 dividend on an annualized basis and a yield of 1.23%. Hubbell’s dividend payout ratio (DPR) is 36.39%.

Insiders Place Their Bets

In other news, insider Alyssa R. Flynn sold 1,106 shares of Hubbell stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $406.79, for a total value of $449,909.74. Following the completion of the transaction, the insider now directly owns 4,234 shares of the company’s stock, valued at approximately $1,722,348.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Hubbell news, insider Mark Eugene Mikes sold 1,942 shares of the company’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $401.34, for a total value of $779,402.28. Following the completion of the transaction, the insider now owns 3,436 shares in the company, valued at approximately $1,379,004.24. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Alyssa R. Flynn sold 1,106 shares of Hubbell stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $406.79, for a total value of $449,909.74. Following the sale, the insider now directly owns 4,234 shares in the company, valued at approximately $1,722,348.86. The disclosure for this sale can be found here. Insiders have sold a total of 3,055 shares of company stock valued at $1,232,139 in the last quarter. Insiders own 0.66% of the company’s stock.

Institutional Investors Weigh In On Hubbell

Several institutional investors have recently bought and sold shares of the stock. Nvwm LLC acquired a new position in shares of Hubbell in the first quarter worth about $25,000. EverSource Wealth Advisors LLC lifted its holdings in Hubbell by 1,850.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 78 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 74 shares during the last quarter. Lindbrook Capital LLC boosted its holdings in shares of Hubbell by 127.5% during the 4th quarter. Lindbrook Capital LLC now owns 91 shares of the industrial products company’s stock worth $30,000 after buying an additional 51 shares during the period. Baillie Gifford & Co. acquired a new stake in shares of Hubbell in the fourth quarter worth $33,000. Finally, Principal Securities Inc. bought a new stake in shares of Hubbell in the 4th quarter worth approximately $40,000. 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.