Hubbell (NYSE:HUBB) Price Target Raised to $455.00 at Wells Fargo & Company

Hubbell (NYSE:HUBB) had its price target increased by Wells Fargo & Company from $445.00 to $455.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has an “equal weight” rating on the industrial products company’s stock. Wells Fargo & Company‘s price target points to a potential upside of 3.18% from the stock’s previous close.

A number of other research analysts also recently commented on the company. Deutsche Bank Aktiengesellschaft raised Hubbell from a “hold” rating to a “buy” rating and increased their price target for the company from $431.00 to $441.00 in a report on Friday, September 6th. Barclays increased their target price on Hubbell from $368.00 to $400.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 2nd. Stephens restated an “overweight” rating and issued a $450.00 price target on shares of Hubbell in a research note on Friday, August 2nd. JPMorgan Chase & Co. downgraded shares of Hubbell from an “overweight” rating to a “neutral” rating and increased their price objective for the company from $385.00 to $454.00 in a research note on Thursday, October 10th. Finally, Mizuho boosted their target price on shares of Hubbell from $450.00 to $490.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $429.38.

Hubbell Stock Up 0.2 %

Shares of HUBB traded up $0.86 during mid-day trading on Wednesday, reaching $440.98. 95,814 shares of the stock traded hands, compared to its average volume of 440,681. The stock has a fifty day simple moving average of $418.82 and a 200 day simple moving average of $395.15. Hubbell has a 12-month low of $248.37 and a 12-month high of $461.77. The company has a quick ratio of 1.13, a current ratio of 1.81 and a debt-to-equity ratio of 0.62. The firm has a market cap of $23.67 billion, a price-to-earnings ratio of 32.83, a P/E/G ratio of 1.66 and a beta of 0.90.

Hubbell (NYSE:HUBB) last released its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $4.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.47 by $0.02. The firm had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.48 billion. Hubbell had a net margin of 13.14% and a return on equity of 28.98%. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.95 EPS. Sell-side analysts expect that Hubbell will post 16.43 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Gerben Bakker sold 15,677 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $374.34, for a total transaction of $5,868,528.18. Following the completion of the transaction, the chief executive officer now owns 66,415 shares in the company, valued at $24,861,791.10. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Hubbell news, CEO Gerben Bakker sold 15,677 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $374.34, for a total value of $5,868,528.18. Following the sale, the chief executive officer now owns 66,415 shares in the company, valued at approximately $24,861,791.10. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Carlos M. Cardoso sold 450 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $364.54, for a total value of $164,043.00. Following the completion of the transaction, the director now directly owns 1,670 shares of the company’s stock, valued at $608,781.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.66% of the stock is owned by company insiders.

Institutional Investors Weigh In On Hubbell

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Nvwm LLC acquired a new position in Hubbell during the 1st quarter valued at about $25,000. Quarry LP bought a new position in shares of Hubbell in the second quarter valued at approximately $49,000. Northwest Investment Counselors LLC acquired a new position in shares of Hubbell during the third quarter valued at approximately $58,000. Ashton Thomas Private Wealth LLC bought a new stake in Hubbell during the second quarter worth approximately $62,000. Finally, Massmutual Trust Co. FSB ADV lifted its position in Hubbell by 23.5% in the second quarter. Massmutual Trust Co. FSB ADV now owns 184 shares of the industrial products company’s stock worth $67,000 after purchasing an additional 35 shares during the period. 88.16% of the stock is currently owned by institutional investors.

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.