Hubbell (NYSE:HUBB) PT Raised to $400.00

Hubbell (NYSE:HUBB) had its price objective lifted by research analysts at Barclays from $368.00 to $400.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage currently has an “equal weight” rating on the industrial products company’s stock. Barclays‘s target price would indicate a potential downside of 6.45% from the stock’s previous close.

A number of other research firms have also recently weighed in on HUBB. Stephens restated an “overweight” rating and set a $450.00 price objective on shares of Hubbell in a research report on Friday, August 2nd. Wells Fargo & Company increased their target price on shares of Hubbell from $397.00 to $400.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 31st. Morgan Stanley began coverage on shares of Hubbell in a research report on Friday, September 6th. They issued an “equal weight” rating and a $407.00 target price for the company. Deutsche Bank Aktiengesellschaft raised shares of Hubbell from a “hold” rating to a “buy” rating and upped their price objective for the company from $431.00 to $441.00 in a report on Friday, September 6th. Finally, JPMorgan Chase & Co. increased their target price on shares of Hubbell from $383.00 to $385.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $408.88.

Hubbell Stock Performance

NYSE HUBB traded up $0.30 during mid-day trading on Wednesday, reaching $427.59. 148,658 shares of the stock were exchanged, compared to its average volume of 449,763. The business’s 50 day moving average is $388.94 and its 200-day moving average is $390.27. Hubbell has a 1 year low of $248.37 and a 1 year high of $433.03. The company has a market capitalization of $22.96 billion, a P/E ratio of 31.80, a P/E/G ratio of 1.56 and a beta of 0.90. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.13 and a current ratio of 1.81.

Hubbell (NYSE:HUBB) last posted its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $4.37 earnings per share for the quarter, topping analysts’ consensus estimates 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 firm’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same period in the prior year, the business posted $4.07 earnings per share. On average, equities research analysts forecast that Hubbell will post 16.45 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Gerben Bakker sold 15,677 shares of Hubbell stock in a transaction 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 transaction, the chief executive officer now directly owns 66,415 shares of the company’s stock, valued at approximately $24,861,791.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Gerben Bakker sold 15,677 shares of Hubbell stock in a transaction 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 transaction, the chief executive officer now directly owns 66,415 shares of the company’s stock, valued at approximately $24,861,791.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Carlos M. Cardoso sold 450 shares of Hubbell stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $364.54, for a total transaction of $164,043.00. Following the completion of the transaction, the director now owns 1,670 shares in the company, valued at $608,781.80. The disclosure for this sale can be found here. 0.66% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Hubbell

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Nordea Investment Management AB lifted its holdings in Hubbell by 4.1% in the 1st quarter. Nordea Investment Management AB now owns 160,085 shares of the industrial products company’s stock valued at $66,571,000 after purchasing an additional 6,275 shares in the last quarter. IFG Advisory LLC purchased a new position in Hubbell in the 2nd quarter valued at about $475,000. Point72 Asset Management L.P. lifted its holdings in Hubbell by 4,414.0% in the 4th quarter. Point72 Asset Management L.P. now owns 242,855 shares of the industrial products company’s stock valued at $79,882,000 after purchasing an additional 237,475 shares in the last quarter. Vaughan Nelson Investment Management L.P. lifted its holdings in Hubbell by 81.0% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 54,365 shares of the industrial products company’s stock valued at $22,565,000 after purchasing an additional 24,321 shares in the last quarter. Finally, New Mexico Educational Retirement Board lifted its holdings in Hubbell by 304.6% in the 1st quarter. New Mexico Educational Retirement Board now owns 11,287 shares of the industrial products company’s stock valued at $4,685,000 after purchasing an additional 8,497 shares in the last quarter. 88.16% of the stock is owned by institutional investors and hedge funds.

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.