Wells Fargo & Company Analysts Give Hubbell (NYSE:HUBB) a $420.00 Price Target

Wells Fargo & Company set a $420.00 price objective on Hubbell (NYSE:HUBB) in a report published on Tuesday, Marketbeat Ratings reports. The firm currently has an equal weight rating on the industrial products company’s stock.

HUBB has been the topic of a number of other reports. Barclays increased their price objective on shares of Hubbell from $400.00 to $414.00 and gave the stock an “equal weight” rating in a research note on Monday, June 9th. JPMorgan Chase & Co. increased their price objective on shares of Hubbell from $352.00 to $417.00 and gave the stock a “neutral” rating in a research note on Friday, May 16th. Finally, Wall Street Zen downgraded shares of Hubbell from a “buy” rating to a “hold” rating in a research note on Friday, April 11th. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $455.50.

Hubbell Trading Down 0.1%

HUBB stock opened at $414.82 on Tuesday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.73 and a current ratio of 1.17. The company’s 50-day simple moving average is $385.54 and its 200 day simple moving average is $383.71. Hubbell has a 52 week low of $299.43 and a 52 week high of $481.35. The company has a market capitalization of $22.14 billion, a PE ratio of 28.07, a price-to-earnings-growth ratio of 1.45 and a beta of 0.99.

Hubbell (NYSE:HUBB) last released its quarterly earnings results on Thursday, May 1st. The industrial products company reported $3.50 EPS for the quarter, missing the consensus estimate of $3.73 by ($0.23). The business had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.39 billion. Hubbell had a net margin of 14.29% and a return on equity of 27.68%. The company’s revenue was down 2.4% on a year-over-year basis. During the same quarter last year, the company posted $3.60 earnings per share. As a group, sell-side analysts anticipate that Hubbell will post 17.63 earnings per share for the current year.

Hubbell Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Friday, May 30th were paid a $1.32 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.27%. Hubbell’s payout ratio is currently 35.72%.

Insider Buying and Selling

In other news, CEO Gerben Bakker sold 7,723 shares of the firm’s stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $384.63, for a total value of $2,970,497.49. Following the sale, the chief executive officer directly owned 82,101 shares in the company, valued at approximately $31,578,507.63. This trade represents a 8.60% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Carlos M. Cardoso sold 400 shares of the firm’s stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $386.29, for a total transaction of $154,516.00. Following the completion of the sale, the director owned 1,727 shares in the company, valued at approximately $667,122.83. The trade was a 18.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.66% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in HUBB. Vanguard Group Inc. raised its holdings in Hubbell by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 6,634,705 shares of the industrial products company’s stock worth $2,779,212,000 after purchasing an additional 65,033 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in Hubbell by 0.3% during the 1st quarter. Bank of New York Mellon Corp now owns 2,833,469 shares of the industrial products company’s stock worth $937,623,000 after purchasing an additional 7,142 shares during the last quarter. Invesco Ltd. raised its holdings in Hubbell by 2.1% during the 1st quarter. Invesco Ltd. now owns 1,522,338 shares of the industrial products company’s stock worth $503,757,000 after purchasing an additional 31,859 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in Hubbell by 6.6% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,510,430 shares of the industrial products company’s stock worth $632,704,000 after purchasing an additional 92,954 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in Hubbell by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 1,284,506 shares of the industrial products company’s stock worth $536,641,000 after purchasing an additional 29,601 shares during the last quarter. Institutional investors own 88.16% of the company’s stock.

Hubbell Company Profile

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.