Hubbell (NYSE:HUBB) had its price objective raised by Morgan Stanley from $129.00 to $130.00 in a research note published on Wednesday, Stock Target Advisor reports. Morgan Stanley currently has an equal weight rating on the industrial products company’s stock.

Several other equities analysts also recently commented on the stock. JMP Securities set a $146.00 target price on shares of Hubbell and gave the stock a buy rating in a research report on Tuesday, April 2nd. Stephens started coverage on shares of Itron in a research report on Monday. They set an equal weight rating and a $64.00 target price on the stock. Finally, Zacks Investment Research raised shares of HB Fuller from a sell rating to a hold rating in a research report on Wednesday, July 3rd. Four research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus price target of $139.67.

Shares of NYSE:HUBB traded down $1.15 during midday trading on Wednesday, hitting $125.23. 230,706 shares of the stock were exchanged, compared to its average volume of 339,107. The company has a quick ratio of 1.16, a current ratio of 1.95 and a debt-to-equity ratio of 0.95. Hubbell has a 52-week low of $91.88 and a 52-week high of $137.67. The stock’s fifty day moving average is $123.73. The company has a market cap of $7.04 billion, a P/E ratio of 17.18, a PEG ratio of 1.59 and a beta of 1.49.

Hubbell (NYSE:HUBB) last posted its earnings results on Tuesday, April 30th. The industrial products company reported $1.57 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.55 by $0.02. The firm had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.10 billion. Hubbell had a net margin of 8.17% and a return on equity of 23.09%. The business’s quarterly revenue was up 9.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.39 earnings per share. On average, analysts anticipate that Hubbell will post 8.11 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Friday, May 31st were paid a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 2.68%. The ex-dividend date of this dividend was Thursday, May 30th. Hubbell’s dividend payout ratio is 46.09%.

In other Hubbell news, Chairman David G. Nord sold 10,762 shares of the firm’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $129.88, for a total transaction of $1,397,768.56. Following the completion of the transaction, the chairman now owns 144,055 shares in the company, valued at $18,709,863.40. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Rodd Richard Ruland sold 2,000 shares of the firm’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $129.98, for a total transaction of $259,960.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,177 shares of company stock valued at $2,477,468. Corporate insiders own 2.20% of the company’s stock.

Several large investors have recently bought and sold shares of the company. Louisiana State Employees Retirement System raised its stake in shares of Hubbell by 0.7% in the first quarter. Louisiana State Employees Retirement System now owns 14,600 shares of the industrial products company’s stock valued at $1,723,000 after acquiring an additional 100 shares during the last quarter. Wealthstreet Investment Advisors LLC increased its holdings in shares of Hubbell by 3.1% in the first quarter. Wealthstreet Investment Advisors LLC now owns 4,940 shares of the industrial products company’s stock valued at $583,000 after purchasing an additional 150 shares in the last quarter. Rice Hall James & Associates LLC increased its holdings in shares of Hubbell by 1.1% in the first quarter. Rice Hall James & Associates LLC now owns 18,620 shares of the industrial products company’s stock valued at $2,197,000 after purchasing an additional 199 shares in the last quarter. Sit Investment Associates Inc. increased its holdings in shares of Hubbell by 0.7% in the first quarter. Sit Investment Associates Inc. now owns 31,800 shares of the industrial products company’s stock valued at $3,752,000 after purchasing an additional 225 shares in the last quarter. Finally, Hamilton Point Investment Advisors LLC increased its holdings in shares of Hubbell by 1.6% in the first quarter. Hamilton Point Investment Advisors LLC now owns 15,975 shares of the industrial products company’s stock valued at $1,885,000 after purchasing an additional 251 shares in the last quarter. Institutional investors own 85.48% of the company’s stock.

Hubbell Company Profile

Hubbell Incorporated designs, manufactures, and sells electrical and electronic products in the United States and internationally. It operates through two segments, Electrical and Power. The Electrical segment offers standard and special application wiring device products, rough-in electrical products, connector and grounding products, lighting fixtures and controls, 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 for the natural gas distribution market.

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Analyst Recommendations for Hubbell (NYSE:HUBB)

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