Hubbell (NYSE:HUBB) PT Lowered to $397.00

Hubbell (NYSE:HUBB) had its price target decreased by Wells Fargo & Company from $435.00 to $397.00 in a research note released on Wednesday, Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the industrial products company’s stock.

A number of other brokerages also recently commented on HUBB. Barclays lifted their price objective on Hubbell from $340.00 to $400.00 and gave the company an equal weight rating in a research report on Tuesday, April 2nd. Mizuho lifted their price objective on Hubbell from $370.00 to $450.00 and gave the company a buy rating in a research report on Wednesday, March 20th. StockNews.com downgraded Hubbell from a buy rating to a hold rating in a research report on Friday, February 2nd. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Hubbell in a research report on Monday, March 11th. They issued a hold rating and a $427.00 price objective for the company. 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, the stock currently has a consensus rating of Moderate Buy and an average price target of $388.86.

Hubbell Stock Performance

Hubbell stock opened at $373.30 on Wednesday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.01 and a current ratio of 1.64. The stock has a fifty day moving average of $397.61 and a two-hundred day moving average of $344.52. The company has a market capitalization of $20.02 billion, a price-to-earnings ratio of 26.57, a PEG ratio of 2.48 and a beta of 0.94. Hubbell has a fifty-two week low of $248.37 and a fifty-two week high of $429.61.

Hubbell (NYSE:HUBB) last released its quarterly earnings results 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 company had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.39 billion. Hubbell had a return on equity of 30.82% and a net margin of 14.14%. Hubbell’s revenue was up 8.8% compared to the same quarter last year. During the same quarter last year, the business posted $3.61 earnings per share. On average, analysts anticipate that Hubbell will post 16.43 EPS for the current fiscal year.

Hubbell Dividend Announcement

The business also recently disclosed 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 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date is Thursday, May 30th. Hubbell’s dividend payout ratio is presently 34.73%.

Insiders Place Their Bets

In other Hubbell news, CEO Gerben Bakker sold 13,355 shares of the business’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $353.13, for a total transaction of $4,716,051.15. Following the transaction, the chief executive officer now owns 51,783 shares in the company, valued at $18,286,130.79. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CEO Gerben Bakker sold 13,355 shares of the business’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $353.13, for a total value of $4,716,051.15. Following the transaction, the chief executive officer now owns 51,783 shares in the company, valued at $18,286,130.79. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Mark Eugene Mikes sold 1,837 shares of the business’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $358.16, for a total value of $657,939.92. Following the completion of the transaction, the insider now owns 5,296 shares in the company, valued at approximately $1,896,815.36. The disclosure for this sale can be found here. Insiders have sold a total of 34,125 shares of company stock worth $12,065,100 over the last quarter. 0.78% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of HUBB. International Assets Investment Management LLC lifted its stake 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. Vanguard Group Inc. lifted its holdings in 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 during the last quarter. Norges Bank bought a new position in Hubbell during the 4th quarter worth approximately $143,024,000. Massachusetts Financial Services Co. MA lifted its holdings in Hubbell by 46.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,020,067 shares of the industrial products company’s stock worth $319,699,000 after buying an additional 323,116 shares during the last quarter. Finally, Westwood Holdings Group Inc. lifted its holdings in Hubbell by 575.7% during the 4th quarter. Westwood Holdings Group Inc. now owns 288,186 shares of the industrial products company’s stock worth $94,793,000 after buying an additional 245,536 shares during the last quarter. 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.