Hubbell Incorporated (NYSE:HUBB) Receives $383.57 Average Price Target from Brokerages

Shares of Hubbell Incorporated (NYSE:HUBB) have received an average rating of “Moderate Buy” from the nine brokerages that are currently covering the stock, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12 month price target among analysts that have covered the stock in the last year is $383.57.

A number of equities analysts recently weighed in on HUBB shares. Barclays increased their price objective on shares of Hubbell from $340.00 to $400.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 2nd. StockNews.com downgraded Hubbell from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Mizuho increased their target price on Hubbell from $370.00 to $450.00 and gave the stock a “buy” rating in a research note on Wednesday, March 20th. Wells Fargo & Company lifted their target price on Hubbell from $351.00 to $360.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 31st. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Hubbell in a research report on Monday, March 11th. They set a “hold” rating and a $427.00 price target on the stock.

Insider Buying and Selling

In other news, VP Katherine Anne Lane sold 1,468 shares of the company’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $352.51, for a total transaction of $517,484.68. Following the completion of the transaction, the vice president now directly owns 9,355 shares of the company’s stock, valued at approximately $3,297,731.05. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, VP Katherine Anne Lane sold 1,468 shares of the stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $352.51, for a total value of $517,484.68. Following the transaction, the vice president now directly owns 9,355 shares of the company’s stock, valued at approximately $3,297,731.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Mark Eugene Mikes sold 1,837 shares of the business’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $358.16, for a total transaction of $657,939.92. Following the completion of the sale, the insider now directly owns 5,296 shares of the company’s stock, valued at $1,896,815.36. The disclosure for this sale can be found here. Over the last quarter, insiders sold 34,125 shares of company stock worth $12,065,100. Corporate insiders own 0.66% of the company’s stock.

Institutional Trading of Hubbell

A number of hedge funds have recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC grew its position in Hubbell by 1,850.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 78 shares of the industrial products company’s stock worth $26,000 after buying an additional 74 shares during the period. Lindbrook Capital LLC increased 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 purchasing an additional 51 shares during the last quarter. Baillie Gifford & Co. acquired a new position in Hubbell in the fourth quarter valued at $33,000. Principal Securities Inc. purchased a new stake in shares of Hubbell during the 4th quarter worth about $40,000. Finally, Riverview Trust Co acquired a new stake in shares of Hubbell in the first quarter worth $52,000. 88.16% of the stock is owned by institutional investors and hedge funds.

Hubbell Stock Up 1.3 %

HUBB stock opened at $407.53 on Thursday. The company has a current ratio of 1.64, a quick ratio of 1.01 and a debt-to-equity ratio of 0.70. The firm has a 50-day moving average of $395.96 and a two-hundred day moving average of $342.87. Hubbell has a 12 month low of $248.37 and a 12 month high of $429.61. The company has a market cap of $21.86 billion, a price-to-earnings ratio of 29.01, a PEG ratio of 2.45 and a beta of 0.94.

Hubbell (NYSE:HUBB) last posted its quarterly earnings results on Tuesday, January 30th. The industrial products company reported $3.69 EPS for the quarter, topping the consensus estimate of $3.58 by $0.11. The business had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.32 billion. Hubbell had a return on equity of 30.82% and a net margin of 14.14%. The company’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.60 EPS. As a group, analysts forecast that Hubbell will post 16.43 earnings per share for the current fiscal year.

About Hubbell

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.