Hubbell (NYSE:HUBB) Price Target Raised to $486.00

Hubbell (NYSE:HUBB) had its price target lifted by JPMorgan Chase & Co. from $485.00 to $486.00 in a research report report published on Wednesday,Benzinga reports. The firm currently has a neutral rating on the industrial products company’s stock.

A number of other equities research analysts have also recently commented on HUBB. Robert W. Baird lowered their price target on shares of Hubbell from $550.00 to $540.00 and set an “outperform” rating on the stock in a report on Wednesday. Weiss Ratings raised shares of Hubbell from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, October 8th. Seaport Research Partners reissued a “buy” rating and issued a $580.00 target price on shares of Hubbell in a research note on Wednesday, September 30th. Wells Fargo & Company dropped their target price on shares of Hubbell from $531.00 to $525.00 and set an “equal weight” rating on the stock in a report on Wednesday. Finally, Evercore reiterated an “outperform” rating and set a $630.00 target price on shares of Hubbell in a research report on Friday, October 9th. Six research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $546.00.

Hubbell Stock Performance

Shares of HUBB stock opened at $422.58 on Wednesday. Hubbell has a 52 week low of $403.82 and a 52 week high of $565.50. The company has a quick ratio of 0.93, a current ratio of 1.53 and a debt-to-equity ratio of 1.09. The company has a market cap of $22.32 billion, a price-to-earnings ratio of 21.81, a price-to-earnings-growth ratio of 2.09 and a beta of 0.85. The firm has a 50 day moving average of $459.26 and a 200-day moving average of $487.81.

Hubbell (NYSE:HUBB) last issued its earnings results on Tuesday, October 27th. The industrial products company reported $5.91 earnings per share for the quarter, topping analysts’ consensus estimates of $5.75 by $0.16. The company had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.85 billion. Hubbell had a return on equity of 27.33% and a net margin of 13.78%. Hubbell’s revenue for the quarter was up 24.6% on a year-over-year basis. During the same period in the prior year, the firm earned $5.17 earnings per share. On average, equities analysts forecast that Hubbell will post 20.54 earnings per share for the current year.

Hubbell Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Monday, November 30th will be given a dividend of $1.52 per share. This represents a $6.08 annualized dividend and a yield of 1.4%. This is an increase from Hubbell’s previous quarterly dividend of $1.42. The ex-dividend date is Monday, November 30th. Hubbell’s dividend payout ratio (DPR) is 33.29%.

Insider Buying and Selling

In other Hubbell news, VP Jonathan Del Nero sold 547 shares of the business’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $518.56, for a total transaction of $283,652.32. Following the sale, the vice president directly owned 2,933 shares of the company’s stock, valued at $1,520,936.48. The trade was a 15.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.63% of the company’s stock.

Institutional Trading of Hubbell

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Covestor Ltd raised its stake in Hubbell by 80.0% in the third quarter. Covestor Ltd now owns 108 shares of the industrial products company’s stock worth $49,000 after buying an additional 48 shares in the last quarter. Provenance Wealth Advisors LLC purchased a new stake in Hubbell during the third quarter valued at approximately $922,000. Associated Banc Corp purchased a new stake in shares of Hubbell during the 3rd quarter valued at $1,962,000. TT International Asset Management LTD raised its stake in Hubbell by 70.7% in the third quarter. TT International Asset Management LTD now owns 2,107 shares of the industrial products company’s stock valued at $956,000 after buying an additional 873 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Hubbell in the 3rd quarter valued at approximately $7,569,000. Hedge funds and other institutional investors own 88.16% of the company’s stock.

About Hubbell

Hubbell Incorporated (NYSE:HUBB) is an electrical products manufacturer that develops and supplies products used in utility, commercial, industrial, and telecommunications applications. Founded in 1888 by Harvey Hubbell, the company has built a portfolio focused on improving the reliability, safety, and efficiency of electrical systems.

Hubbell’s Utility Solutions products support the generation, transmission, distribution, and control of electricity. Its offerings include electrical connectors and fittings, insulators, arresters, transmission and distribution hardware, communications infrastructure products, and equipment used in underground and overhead utility networks.

Its Electrical Solutions business serves commercial and industrial customers with wiring devices, electrical enclosures, grounding and bonding products, cable management systems, lighting-related products, and solutions designed for harsh, hazardous, and demanding operating environments.