Hubbell (NYSE:HUBB) had its target price raised by research analysts at Morgan Stanley from $197.00 to $203.00 in a report issued on Tuesday, Benzinga reports. The firm presently has an "equal weight" rating on the industrial products company's stock. Morgan Stanley's target price indicates a potential upside of 4.84% from the company's previous close.
Separately, Zacks Investment Research cut shares of Hubbell from a "buy" rating to a "hold" rating in a research note on Tuesday. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. The company presently has a consensus rating of "Hold" and a consensus target price of $187.75.
Hubbell stock opened at $193.62 on Tuesday. Hubbell has a twelve month low of $105.34 and a twelve month high of $196.47. The stock has a market capitalization of $10.51 billion, a price-to-earnings ratio of 28.47, a PEG ratio of 2.71 and a beta of 1.19. The company has a current ratio of 2.07, a quick ratio of 1.33 and a debt-to-equity ratio of 0.71. The stock has a 50 day moving average of $188.36 and a two-hundred day moving average of $168.57.
Hubbell (NYSE:HUBB) last posted its quarterly earnings data on Tuesday, April 27th. The industrial products company reported $1.72 EPS for the quarter, beating the Zacks' consensus estimate of $1.67 by $0.05. Hubbell had a net margin of 8.75% and a return on equity of 21.38%. The company had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter in the prior year, the company posted $1.64 EPS. The company's quarterly revenue was down 1.1% compared to the same quarter last year. Equities analysts predict that Hubbell will post 7.57 earnings per share for the current year.
In related news, VP Stephen M. Mais sold 3,178 shares of Hubbell stock in a transaction on Friday, April 30th. The stock was sold at an average price of $193.29, for a total transaction of $614,275.62. Following the transaction, the vice president now directly owns 16,146 shares in the company, valued at $3,120,860.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Stephen M. Mais sold 1,080 shares of the company's stock in a transaction that occurred on Wednesday, February 17th. The stock was sold at an average price of $166.63, for a total transaction of $179,960.40. Following the completion of the transaction, the vice president now owns 14,981 shares of the company's stock, valued at $2,496,284.03. The disclosure for this sale can be found here. In the last three months, insiders sold 7,474 shares of company stock valued at $1,320,824. Corporate insiders own 1.90% of the company's stock.
Several large investors have recently modified their holdings of the company. Brinker Capital Investments LLC purchased a new position in shares of Hubbell during the third quarter valued at $654,000. Van ECK Associates Corp increased its stake in shares of Hubbell by 32.7% in the 3rd quarter. Van ECK Associates Corp now owns 540 shares of the industrial products company's stock worth $74,000 after acquiring an additional 133 shares during the last quarter. Mercer Global Advisors Inc. ADV increased its position in shares of Hubbell by 30.5% during the third quarter. Mercer Global Advisors Inc. ADV now owns 11,098 shares of the industrial products company's stock worth $1,519,000 after acquiring an additional 2,597 shares during the period. Virtu Financial LLC acquired a new position in Hubbell during the 3rd quarter worth approximately $251,000. Finally, HGK Asset Management Inc. acquired a new position in Hubbell in the fourth quarter valued at $4,268,000. 84.44% of the stock is currently owned by institutional investors and hedge funds.
Hubbell Company Profile
Hubbell Incorporated, together with its subsidiaries, designs, manufactures, and sells electrical and electronic products in the United States and internationally. The company operates through two segments, Electrical Solution and Utility Solution. The Electrical Solution segment offers standard and special application wiring device products, rough-in electrical products, connector and grounding products, lighting fixtures and controls, 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 for the natural gas distribution market.
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