Hubbell (NYSE:HUBB) PT Lowered to $397.00 at Wells Fargo & Company

Hubbell (NYSE:HUBB) had its target price lowered by Wells Fargo & Company from $435.00 to $397.00 in a report released on Wednesday, Benzinga reports. The firm currently has an equal weight rating on the industrial products company’s stock.

Other equities research analysts have also issued research reports about the stock. StockNews.com lowered shares of Hubbell from a buy rating to a hold rating in a research note on Friday, February 2nd. Deutsche Bank Aktiengesellschaft started coverage on shares of Hubbell in a research note on Monday, March 11th. They set a hold rating and a $427.00 price objective on the stock. Barclays increased their target price on shares of Hubbell from $340.00 to $400.00 and gave the company an equal weight rating in a research report on Tuesday, April 2nd. Finally, Mizuho upped their price target on shares of Hubbell from $370.00 to $450.00 and gave the stock a buy rating in a research note on Wednesday, March 20th. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus price target of $386.57.

Hubbell Stock Performance

Shares of HUBB stock opened at $379.88 on Wednesday. The company has a market cap of $20.37 billion, a P/E ratio of 28.33, a PEG ratio of 1.44 and a beta of 0.96. The business has a 50 day moving average of $398.06 and a two-hundred day moving average of $345.25. Hubbell has a 52 week low of $248.37 and a 52 week high of $429.61. The company has a quick ratio of 1.01, a current ratio of 1.66 and a debt-to-equity ratio of 0.64.

Hubbell (NYSE:HUBB) last released its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $3.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.54 by $0.06. The business had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.39 billion. Hubbell had a return on equity of 29.55% and a net margin of 13.23%. The business’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.61 EPS. As a group, analysts anticipate that Hubbell will post 16.41 EPS for the current year.

Hubbell Announces Dividend

The business 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 $1.22 dividend. 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 36.39%.

Insider Transactions at Hubbell

In other news, VP Katherine Anne Lane sold 1,468 shares of Hubbell stock in a transaction that occurred 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 $3,297,731.05. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, insider Mark Eugene Mikes sold 397 shares of the stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $363.45, for a total value of $144,289.65. Following the completion of the sale, the insider now directly owns 4,899 shares of the company’s stock, valued at approximately $1,780,541.55. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Katherine Anne Lane sold 1,468 shares of the firm’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $352.51, for a total value of $517,484.68. Following the sale, the vice president now owns 9,355 shares of the company’s stock, valued at $3,297,731.05. The disclosure for this sale can be found here. Insiders have sold 4,747 shares of company stock valued at $1,693,364 over the last three months. Company insiders own 0.66% of the company’s stock.

Institutional Trading of Hubbell

A number of hedge funds have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC boosted 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 valued at $26,000 after purchasing an additional 74 shares during the last quarter. Lindbrook Capital LLC raised its stake in shares of Hubbell by 127.5% during the 4th quarter. Lindbrook Capital LLC now owns 91 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 51 shares in the last quarter. Baillie Gifford & Co. acquired a new stake in shares of Hubbell during the 4th quarter valued at about $33,000. Principal Securities Inc. bought a new stake in shares of Hubbell in the 4th quarter valued at approximately $40,000. Finally, Riverview Trust Co acquired a new position in Hubbell in the first quarter worth approximately $52,000. 88.16% of the stock is owned by hedge funds and other institutional investors.

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.