Hubbell (NYSE:HUBB) PT Lowered to $384.00 at Barclays

Hubbell (NYSE:HUBB) had its price objective lowered by Barclays from $400.00 to $384.00 in a research note released on Thursday, Benzinga reports. Barclays currently has an equal weight rating on the industrial products company’s stock.

A number of other research firms have also issued reports on HUBB. Deutsche Bank Aktiengesellschaft assumed coverage on Hubbell in a report on Monday, March 11th. They issued a hold rating and a $427.00 target price for the company. Mizuho increased their price objective 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 lowered their target price on Hubbell from $435.00 to $397.00 and set an equal weight rating on the stock in a research note on Wednesday, May 1st. Finally, StockNews.com lowered shares of Hubbell from a buy rating to a hold rating in a research report on Friday, February 2nd. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus price target of $386.57.

Hubbell Price Performance

NYSE HUBB opened at $379.89 on Thursday. The company has a current ratio of 1.66, a quick ratio of 1.01 and a debt-to-equity ratio of 0.64. Hubbell has a 1 year low of $248.37 and a 1 year high of $429.61. The company has a market cap of $20.37 billion, a PE ratio of 28.33, a PEG ratio of 1.47 and a beta of 0.96. The stock’s 50-day moving average price is $398.06 and its two-hundred day moving average price is $345.96.

Hubbell (NYSE:HUBB) last released its quarterly earnings results 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 for the quarter, compared to analyst estimates of $1.39 billion. Hubbell had a net margin of 13.23% and a return on equity of 29.55%. The firm’s revenue was up 8.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.61 earnings per share. On average, analysts predict that Hubbell will post 16.35 EPS for the current year.

Hubbell Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Friday, May 31st will be issued a dividend of $1.22 per share. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $4.88 annualized dividend and a dividend yield of 1.28%. Hubbell’s dividend payout ratio is 36.39%.

Insider Buying and Selling

In other Hubbell 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 completion of the sale, the vice president now directly owns 9,355 shares in the company, valued at $3,297,731.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Hubbell 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 transaction 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 document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Mark Eugene Mikes sold 397 shares of the business’s 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 disclosure for this sale can be found here. Over the last quarter, insiders have sold 4,747 shares of company stock worth $1,693,364. Insiders own 0.66% of the company’s stock.

Hedge Funds Weigh In On Hubbell

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC boosted its holdings in shares of Hubbell by 1,850.0% during the 4th 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 boosted its holdings in Hubbell by 127.5% during the fourth quarter. Lindbrook Capital LLC now owns 91 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 51 shares during the period. Baillie Gifford & Co. acquired a new stake in shares of Hubbell in the fourth quarter valued at about $33,000. Principal Securities Inc. bought a new position in shares of Hubbell in the fourth quarter worth about $40,000. Finally, Riverview Trust Co acquired a new position in shares of Hubbell during the 1st quarter worth about $52,000. Institutional investors and hedge funds own 88.16% of the company’s stock.

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.