Wells Fargo & Company Boosts Hubbell (NYSE:HUBB) Price Target to $420.00

Hubbell (NYSE:HUBB - Free Report) had its price objective upped by Wells Fargo & Company from $363.00 to $420.00 in a research report released on Tuesday,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the industrial products company's stock.

Other research analysts also recently issued research reports about the stock. Barclays increased their price objective on shares of Hubbell from $400.00 to $414.00 and gave the company an "equal weight" rating in a report on Monday, June 9th. JPMorgan Chase & Co. raised their price target on Hubbell from $352.00 to $417.00 and gave the company a "neutral" rating in a report on Friday, May 16th. Finally, Wall Street Zen cut Hubbell from a "buy" rating to a "hold" rating in a report on Friday, April 11th. Six investment 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, Hubbell presently has an average rating of "Hold" and a consensus target price of $455.50.

Hubbell Stock Up 0.6%

Shares of HUBB stock traded up $2.58 during mid-day trading on Tuesday, hitting $410.99. The company's stock had a trading volume of 466,087 shares, compared to its average volume of 532,938. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.73 and a current ratio of 1.17. Hubbell has a 52-week low of $299.43 and a 52-week high of $481.35. The stock has a market cap of $21.93 billion, a price-to-earnings ratio of 24.81, a PEG ratio of 1.43 and a beta of 0.99. The business has a 50-day moving average price of $383.10 and a 200 day moving average price of $383.77.

Hubbell (NYSE:HUBB - Get Free Report) last announced its earnings results on Thursday, May 1st. The industrial products company reported $3.50 earnings per share for the quarter, missing analysts' consensus estimates of $3.73 by ($0.23). Hubbell had a net margin of 14.29% and a return on equity of 27.68%. The company had revenue of $1.37 billion for the quarter, compared to analysts' expectations of $1.39 billion. During the same quarter in the prior year, the firm posted $3.60 earnings per share. Hubbell's quarterly revenue was down 2.4% on a year-over-year basis. Research analysts predict that Hubbell will post 17.63 EPS for the current fiscal year.

Hubbell Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Friday, May 30th were issued a $1.32 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a $5.28 annualized dividend and a dividend yield of 1.28%. Hubbell's dividend payout ratio is presently 35.72%.

Insiders Place Their Bets

In related news, Director Carlos M. Cardoso sold 400 shares of the company's stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $386.29, for a total value of $154,516.00. Following the transaction, the director directly owned 1,727 shares in the company, valued at approximately $667,122.83. This represents a 18.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Gerben Bakker sold 7,723 shares of the company's stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $384.63, for a total transaction of $2,970,497.49. Following the completion of the transaction, the chief executive officer owned 82,101 shares in the company, valued at approximately $31,578,507.63. This represents a 8.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.76% of the stock is owned by company insiders.

Hedge Funds Weigh In On Hubbell

Several institutional investors have recently modified their holdings of HUBB. Creative Financial Designs Inc. ADV grew its stake in Hubbell by 85.7% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 65 shares of the industrial products company's stock worth $27,000 after purchasing an additional 30 shares in the last quarter. Tsfg LLC purchased a new stake in Hubbell during the first quarter worth approximately $30,000. Johnson Financial Group Inc. boosted its holdings in shares of Hubbell by 166.7% in the 4th quarter. Johnson Financial Group Inc. now owns 104 shares of the industrial products company's stock valued at $44,000 after buying an additional 65 shares in the last quarter. NBC Securities Inc. purchased a new position in shares of Hubbell during the first quarter worth about $49,000. Finally, CX Institutional acquired a new stake in shares of Hubbell in the first quarter valued at approximately $49,000. 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.