Hubbell (NYSE:HUBB) Price Target Raised to $445.00 at Morgan Stanley

Hubbell (NYSE:HUBB) had its price target lifted by Morgan Stanley from $407.00 to $445.00 in a research report released on Wednesday morning, Benzinga reports. The brokerage 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 target price on shares of Hubbell from $400.00 to $402.00 and gave the company an “equal weight” rating in a research report on Wednesday. JPMorgan Chase & Co. downgraded shares of Hubbell from an “overweight” rating to a “neutral” rating and increased their target price for the company from $385.00 to $454.00 in a research report on Thursday, October 10th. Stephens reaffirmed an “overweight” rating and issued a $450.00 target price on shares of Hubbell in a research report on Friday, August 2nd. Mizuho increased their target price on shares of Hubbell from $450.00 to $490.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Hubbell from a “hold” rating to a “buy” rating and increased their price target for the stock from $431.00 to $441.00 in a research note on Friday, September 6th. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Hubbell has a consensus rating of “Moderate Buy” and a consensus target price of $434.38.

Hubbell Trading Down 0.3 %

Shares of NYSE:HUBB opened at $425.70 on Wednesday. Hubbell has a 52 week low of $274.42 and a 52 week high of $461.77. The company’s 50 day moving average is $421.70 and its two-hundred day moving average is $395.78. The company has a current ratio of 1.66, a quick ratio of 1.13 and a debt-to-equity ratio of 0.51. The company has a market cap of $22.85 billion, a PE ratio of 30.67, a P/E/G ratio of 1.59 and a beta of 0.90.

Hubbell (NYSE:HUBB) last announced its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $4.49 EPS for the quarter, beating analysts’ consensus estimates of $4.47 by $0.02. The company had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.48 billion. Hubbell had a net margin of 13.33% and a return on equity of 28.81%. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.95 EPS. Equities analysts predict that Hubbell will post 16.46 earnings per share for the current fiscal year.

Hubbell Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be paid a $1.32 dividend. This represents a $5.28 annualized dividend and a dividend yield of 1.24%. The ex-dividend date of this dividend is Friday, November 29th. This is a boost from Hubbell’s previous quarterly dividend of $1.22. Hubbell’s dividend payout ratio (DPR) is 35.16%.

Insider Transactions at Hubbell

In other news, CEO Gerben Bakker sold 15,677 shares of the firm’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $374.34, for a total value of $5,868,528.18. Following the completion of the sale, the chief executive officer now owns 66,415 shares in the company, valued at approximately $24,861,791.10. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Carlos M. Cardoso sold 450 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $364.54, for a total value of $164,043.00. Following the completion of the sale, the director now owns 1,670 shares in the company, valued at $608,781.80. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Gerben Bakker sold 15,677 shares of the firm’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $374.34, for a total transaction of $5,868,528.18. Following the completion of the sale, the chief executive officer now owns 66,415 shares of the company’s stock, valued at $24,861,791.10. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.66% of the company’s stock.

Institutional Trading of Hubbell

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Nvwm LLC acquired a new stake in shares of Hubbell in the first quarter valued at about $25,000. Quarry LP acquired a new stake in shares of Hubbell in the second quarter valued at about $49,000. Northwest Investment Counselors LLC acquired a new stake in shares of Hubbell in the third quarter valued at about $58,000. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Hubbell in the second quarter valued at about $62,000. Finally, Massmutual Trust Co. FSB ADV lifted its stake in shares of Hubbell by 23.5% in the second quarter. Massmutual Trust Co. FSB ADV now owns 184 shares of the industrial products company’s stock valued at $67,000 after purchasing an additional 35 shares during the period. Institutional investors and hedge funds 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.