Hubbell (NYSE:HUBB) PT Set at $420.00 by Wells Fargo & Company

Wells Fargo & Company set a $420.00 price target on Hubbell (NYSE:HUBB) in a research report released on Tuesday, Marketbeat reports. The firm currently has an equal weight rating on the industrial products company’s stock.

Other equities analysts also recently issued reports about the stock. JPMorgan Chase & Co. lifted their price objective on shares of Hubbell from $352.00 to $417.00 and gave the stock a “neutral” rating in a report on Friday, May 16th. Barclays lifted their price objective on shares of Hubbell from $400.00 to $414.00 and gave the stock an “equal weight” rating in a report on Monday, June 9th. Finally, Wall Street Zen downgraded shares of Hubbell from a “buy” rating to a “hold” rating in a report on Friday, April 11th. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $455.50.

Hubbell Stock Performance

Shares of HUBB stock opened at $414.82 on Tuesday. The firm has a market capitalization of $22.14 billion, a PE ratio of 28.07, a price-to-earnings-growth ratio of 1.45 and a beta of 0.99. The firm has a fifty day simple moving average of $385.54 and a two-hundred day simple moving average of $383.71. The company has a current ratio of 1.17, a quick ratio of 0.73 and a debt-to-equity ratio of 0.32. Hubbell has a 12 month low of $299.43 and a 12 month high of $481.35.

Hubbell (NYSE:HUBB) last announced its quarterly earnings results on Thursday, May 1st. The industrial products company reported $3.50 EPS for the quarter, missing analysts’ consensus estimates of $3.73 by ($0.23). The business had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.39 billion. Hubbell had a net margin of 14.29% and a return on equity of 27.68%. The business’s revenue for the quarter was down 2.4% compared to the same quarter last year. During the same quarter last year, the firm posted $3.60 EPS. Analysts forecast that Hubbell will post 17.63 EPS for the current fiscal year.

Hubbell Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Friday, May 30th were issued a $1.32 dividend. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.27%. The ex-dividend date of this dividend was Friday, May 30th. Hubbell’s dividend payout ratio (DPR) is currently 35.72%.

Insider Transactions at Hubbell

In related news, CEO Gerben Bakker sold 7,723 shares of the business’s stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $384.63, for a total value of $2,970,497.49. Following the transaction, the chief executive officer directly owned 82,101 shares of the company’s stock, valued at approximately $31,578,507.63. The trade was a 8.60% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Carlos M. Cardoso sold 400 shares of the business’s stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $386.29, for a total transaction of $154,516.00. Following the completion of the transaction, the director directly owned 1,727 shares in the company, valued at $667,122.83. This trade represents a 18.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Hubbell

Hedge funds and other institutional investors have recently made changes to their positions in the stock. CX Institutional purchased a new position in shares of Hubbell in the 1st quarter worth about $49,000. Smartleaf Asset Management LLC raised its stake in Hubbell by 25.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 190 shares of the industrial products company’s stock valued at $80,000 after acquiring an additional 38 shares during the period. UMB Bank n.a. raised its stake in Hubbell by 21.1% in the 1st quarter. UMB Bank n.a. now owns 322 shares of the industrial products company’s stock valued at $107,000 after acquiring an additional 56 shares during the period. Blue Trust Inc. raised its stake in Hubbell by 43.6% in the 1st quarter. Blue Trust Inc. now owns 382 shares of the industrial products company’s stock valued at $126,000 after acquiring an additional 116 shares during the period. Finally, Janus Henderson Group PLC raised its stake in Hubbell by 1.8% in the 4th quarter. Janus Henderson Group PLC now owns 7,130 shares of the industrial products company’s stock valued at $2,988,000 after acquiring an additional 123 shares during the period. 88.16% of the stock is owned by hedge funds and other 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.