Hubbell (NYSE:HUBB) Given New $384.00 Price Target at Barclays

Hubbell (NYSE:HUBB) had its price objective decreased by Barclays from $400.00 to $384.00 in a report released on Thursday, Benzinga reports. Barclays currently has an equal weight rating on the industrial products company’s stock.

HUBB has been the topic of a number of other research reports. Deutsche Bank Aktiengesellschaft began coverage on shares of Hubbell in a research report on Monday, March 11th. They issued a hold rating and a $427.00 price objective on the stock. Mizuho raised their price objective on Hubbell from $370.00 to $450.00 and gave the company a buy rating in a report on Wednesday, March 20th. Wells Fargo & Company dropped their target price on Hubbell from $435.00 to $397.00 and set an equal weight rating on the stock in a report on Wednesday. Finally, StockNews.com downgraded Hubbell from a buy rating to a hold rating in a research note on Friday, February 2nd. Five analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average price target of $386.57.

Hubbell Stock Up 1.9 %

NYSE HUBB traded up $6.95 on Thursday, reaching $379.89. The company had a trading volume of 433,697 shares, compared to its average volume of 487,446. The company’s fifty day moving average is $398.06 and its 200-day moving average is $345.25. The firm has a market capitalization of $20.37 billion, a price-to-earnings ratio of 28.33, a price-to-earnings-growth ratio of 1.44 and a beta of 0.96. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.01 and a current ratio of 1.66. Hubbell has a 1-year low of $248.37 and a 1-year high of $429.61.

Hubbell (NYSE:HUBB) last posted its quarterly earnings data 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. Hubbell had a return on equity of 29.55% and a net margin of 13.23%. The company had revenue of $1.40 billion during the quarter, compared to analysts’ expectations of $1.39 billion. During the same period in the prior year, the firm earned $3.61 earnings per share. Hubbell’s revenue for the quarter was up 8.8% compared to the same quarter last year. On average, research analysts forecast that Hubbell will post 16.41 earnings per share for the current fiscal year.

Hubbell Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Friday, May 31st will be issued a dividend of $1.22 per share. This represents a $4.88 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date of this dividend is Thursday, May 30th. Hubbell’s payout ratio is presently 36.39%.

Insider Activity at Hubbell

In other Hubbell news, insider Mark Eugene Mikes sold 1,045 shares of Hubbell stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $357.56, for a total transaction of $373,650.20. Following the completion of the transaction, the insider now directly owns 7,310 shares of the company’s stock, valued at $2,613,763.60. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, VP Katherine Anne Lane sold 1,468 shares of the business’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $352.51, for a total value of $517,484.68. Following the completion of the sale, the vice president now directly owns 9,355 shares in the company, valued at approximately $3,297,731.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mark Eugene Mikes sold 1,045 shares of the stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $357.56, for a total value of $373,650.20. Following the transaction, the insider now owns 7,310 shares in the company, valued at approximately $2,613,763.60. The disclosure for this sale can be found here. In the last quarter, insiders have sold 4,747 shares of company stock worth $1,693,364. Company insiders own 0.66% of the company’s stock.

Hedge Funds Weigh In On Hubbell

Hedge funds have recently bought and sold shares of the business. EverSource Wealth Advisors LLC grew its position in shares of Hubbell by 1,850.0% during 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 in the last quarter. Lindbrook Capital LLC grew its position in Hubbell by 127.5% during the fourth quarter. Lindbrook Capital LLC now owns 91 shares of the industrial products company’s stock worth $30,000 after buying an additional 51 shares in the last quarter. Baillie Gifford & Co. bought a new position in Hubbell during the 4th quarter worth $33,000. Principal Securities Inc. acquired a new position in Hubbell in the 4th quarter valued at $40,000. Finally, Riverview Trust Co bought a new stake in shares of Hubbell during the 1st quarter valued at $52,000. 88.16% of the stock is owned by institutional investors.

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.