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

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

A number of other research analysts also recently issued reports on the stock. Mizuho boosted their price target on shares of Hubbell from $370.00 to $450.00 and gave the stock a buy rating in a research report on Wednesday, March 20th. StockNews.com downgraded shares of Hubbell from a buy rating to a hold rating in a research report on Friday, February 2nd. Deutsche Bank Aktiengesellschaft started coverage on shares of Hubbell in a research note on Monday, March 11th. They issued a hold rating and a $427.00 price objective for the company. Finally, Wells Fargo & Company lowered their price objective on shares of Hubbell from $435.00 to $397.00 and set an equal weight rating for the company in a research note on Wednesday. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Hubbell currently has a consensus rating of Moderate Buy and an average target price of $386.57.

Hubbell Price Performance

Shares of HUBB traded up $6.95 during mid-day trading on Thursday, reaching $379.89. The company had a trading volume of 433,697 shares, compared to its average volume of 487,446. The company’s 50 day simple moving average is $398.06 and its 200 day simple moving average is $345.57. Hubbell has a 1-year low of $248.37 and a 1-year high of $429.61. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.01 and a current ratio of 1.66. The company has a market capitalization of $20.37 billion, a price-to-earnings ratio of 28.33, a P/E/G ratio of 1.47 and a beta of 0.96.

Hubbell (NYSE:HUBB) last posted its earnings results on Tuesday, April 30th. The industrial products company reported $3.60 EPS for the quarter, topping the consensus estimate of $3.54 by $0.06. Hubbell had a net margin of 13.23% and a return on equity of 29.55%. The business had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.39 billion. During the same period last year, the company earned $3.61 EPS. The firm’s revenue was up 8.8% compared to the same quarter last year. Analysts expect that Hubbell will post 16.35 EPS for the current year.

Hubbell Announces Dividend

The business also recently declared 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 dividend payout ratio (DPR) is currently 36.39%.

Insider Buying and Selling

In other Hubbell news, VP Katherine Anne Lane sold 1,468 shares of the company’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $352.51, for a total transaction of $517,484.68. Following the sale, 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 available through the SEC website. In other Hubbell news, insider Mark Eugene Mikes sold 1,837 shares of the company’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $358.16, for a total transaction of $657,939.92. Following the sale, the insider now directly owns 5,296 shares of the company’s stock, valued at $1,896,815.36. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Katherine Anne Lane sold 1,468 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, 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. In the last ninety days, insiders have sold 4,747 shares of company stock valued at $1,693,364. 0.66% of the stock is owned by insiders.

Hedge Funds Weigh In On Hubbell

Large investors have recently modified their holdings of the company. Chevy Chase Trust Holdings LLC raised its stake in Hubbell by 265.7% in the fourth quarter. Chevy Chase Trust Holdings LLC now owns 41,234 shares of the industrial products company’s stock valued at $13,563,000 after purchasing an additional 29,959 shares in the last quarter. Nordea Investment Management AB raised its stake in Hubbell by 119.0% in the fourth quarter. Nordea Investment Management AB now owns 153,810 shares of the industrial products company’s stock valued at $50,388,000 after purchasing an additional 83,581 shares in the last quarter. PFG Advisors purchased a new stake in Hubbell in the fourth quarter valued at approximately $1,108,000. Raymond James Financial Services Advisors Inc. raised its stake in Hubbell by 117.4% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 20,456 shares of the industrial products company’s stock valued at $6,729,000 after purchasing an additional 11,046 shares in the last quarter. Finally, Financiere des Professionnels Fonds d investissement inc. raised its stake in Hubbell by 23.9% in the fourth quarter. Financiere des Professionnels Fonds d investissement inc. now owns 17,096 shares of the industrial products company’s stock valued at $5,623,000 after purchasing an additional 3,293 shares in the last quarter. 88.16% of the stock is currently owned by 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.