Hubbell (NYSE:HUBB – Get Rating) had its price objective upped by UBS Group from $200.00 to $254.00 in a report published on Thursday morning, The Fly reports. They currently have a neutral rating on the industrial products company’s stock.
A number of other equities analysts have also recently commented on HUBB. JPMorgan Chase & Co. cut shares of Hubbell from an overweight rating to an underweight rating and set a $200.00 price target for the company. in a research note on Wednesday, October 19th. They noted that the move was a valuation call. StockNews.com cut shares of Hubbell from a strong-buy rating to a buy rating in a research note on Thursday, October 6th. Morgan Stanley upped their price objective on shares of Hubbell from $219.00 to $226.00 and gave the company an equal weight rating in a research note on Wednesday, October 26th. Wells Fargo & Company upped their price objective on shares of Hubbell from $196.00 to $215.00 and gave the company an equal weight rating in a research note on Thursday, October 27th. Finally, Mizuho upped their price objective on shares of Hubbell from $220.00 to $252.00 and gave the company a buy rating in a research note on Wednesday, October 26th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of Hold and an average target price of $229.40.
Hubbell Price Performance
HUBB stock opened at $253.49 on Thursday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.88 and a quick ratio of 1.18. Hubbell has a one year low of $170.21 and a one year high of $257.99. The stock has a market cap of $13.61 billion, a PE ratio of 24.66, a P/E/G ratio of 2.43 and a beta of 1.04. The firm has a 50 day simple moving average of $231.11 and a two-hundred day simple moving average of $209.49.
Hubbell Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Wednesday, November 30th will be issued a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date is Tuesday, November 29th. This is a positive change from Hubbell’s previous quarterly dividend of $1.05. Hubbell’s dividend payout ratio (DPR) is 40.86%.
Insider Buying and Selling at Hubbell
In other Hubbell news, CFO William R. Sperry sold 18,878 shares of the company’s stock in a transaction that occurred on Friday, October 28th. The stock was sold at an average price of $239.69, for a total transaction of $4,524,867.82. Following the completion of the transaction, the chief financial officer now owns 46,292 shares of the company’s stock, valued at approximately $11,095,729.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.82% of the company’s stock.
Institutional Trading of Hubbell
Large investors have recently added to or reduced their stakes in the stock. Quent Capital LLC lifted its position in shares of Hubbell by 22.1% in the 3rd quarter. Quent Capital LLC now owns 254 shares of the industrial products company’s stock worth $57,000 after purchasing an additional 46 shares during the period. Salem Investment Counselors Inc. boosted its position in Hubbell by 0.5% during the 2nd quarter. Salem Investment Counselors Inc. now owns 9,538 shares of the industrial products company’s stock valued at $1,703,000 after acquiring an additional 47 shares in the last quarter. Commerce Bank grew its holdings in shares of Hubbell by 1.3% during the 3rd quarter. Commerce Bank now owns 3,609 shares of the industrial products company’s stock worth $805,000 after acquiring an additional 48 shares during the period. Avantax Advisory Services Inc. lifted its stake in shares of Hubbell by 3.0% in the 3rd quarter. Avantax Advisory Services Inc. now owns 1,751 shares of the industrial products company’s stock valued at $391,000 after purchasing an additional 51 shares during the period. Finally, CX Institutional boosted its position in shares of Hubbell by 4.9% during the third quarter. CX Institutional now owns 1,144 shares of the industrial products company’s stock valued at $255,000 after purchasing an additional 53 shares in the last quarter. Institutional investors own 88.91% of the company’s stock.
Hubbell Incorporated, together with its subsidiaries, designs, manufactures, and sells electrical and electronic products in the United States and internationally. It operates through two segments, Electrical Solution and Utility Solution. 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 for the natural gas distribution market.
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