Hubbell (NYSE:HUBB) Price Target Raised to $490.00 at Mizuho

Hubbell (NYSE:HUBB) had its target price boosted by equities researchers at Mizuho from $450.00 to $490.00 in a research note issued on Thursday, Benzinga reports. The firm currently has an “outperform” rating on the industrial products company’s stock. Mizuho’s price objective suggests a potential upside of 7.27% from the company’s current price.

Several other equities analysts have also issued reports on HUBB. Wells Fargo & Company boosted their target price on shares of Hubbell from $400.00 to $445.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. Deutsche Bank Aktiengesellschaft raised Hubbell from a “hold” rating to a “buy” rating and boosted their price objective for the company from $431.00 to $441.00 in a research note on Friday, September 6th. Stephens reiterated an “overweight” rating and issued a $450.00 target price on shares of Hubbell in a report on Friday, August 2nd. JPMorgan Chase & Co. lowered Hubbell from an “overweight” rating to a “neutral” rating and boosted their price target for the company from $385.00 to $454.00 in a research note on Thursday, October 10th. Finally, Morgan Stanley initiated coverage on shares of Hubbell in a research note on Friday, September 6th. They issued an “equal weight” rating and a $407.00 price objective for the company. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $428.13.

Hubbell Trading Down 0.2 %

NYSE HUBB opened at $456.81 on Thursday. The firm has a market capitalization of $24.52 billion, a PE ratio of 34.06, a price-to-earnings-growth ratio of 1.67 and a beta of 0.90. The business’s 50-day moving average price is $408.72 and its two-hundred day moving average price is $393.66. The company has a current ratio of 1.81, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62. Hubbell has a 12 month low of $248.37 and a 12 month high of $461.77.

Hubbell (NYSE:HUBB) last announced its earnings results on Tuesday, July 30th. The industrial products company reported $4.37 EPS for the quarter, beating the consensus estimate of $4.24 by $0.13. Hubbell had a return on equity of 28.98% and a net margin of 13.14%. The business had revenue of $1.45 billion for the quarter, compared to analysts’ expectations of $1.48 billion. During the same period in the prior year, the business posted $4.07 earnings per share. The firm’s revenue was up 6.3% on a year-over-year basis. On average, analysts expect that Hubbell will post 16.41 EPS for the current year.

Insider Activity

In related news, 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 value of $5,868,528.18. Following the transaction, the chief executive officer now owns 66,415 shares of the company’s stock, valued at approximately $24,861,791.10. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Carlos M. Cardoso sold 450 shares of the company’s stock in a transaction on 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 represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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 transaction, the chief executive officer now directly owns 66,415 shares in the company, valued at $24,861,791.10. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.66% of the company’s stock.

Institutional Investors Weigh In On Hubbell

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Nomura Holdings Inc. bought a new position in shares of Hubbell in the fourth quarter valued at approximately $358,000. Fulton Bank N.A. increased its position in shares of Hubbell by 7.2% during the 1st quarter. Fulton Bank N.A. now owns 2,533 shares of the industrial products company’s stock valued at $1,051,000 after purchasing an additional 171 shares during the last quarter. Czech National Bank increased its position in shares of Hubbell by 0.4% during the 1st quarter. Czech National Bank now owns 9,435 shares of the industrial products company’s stock valued at $3,916,000 after purchasing an additional 42 shares during the last quarter. Banque Cantonale Vaudoise boosted its holdings in shares of Hubbell by 118.0% in the 1st quarter. Banque Cantonale Vaudoise now owns 1,552 shares of the industrial products company’s stock worth $643,000 after buying an additional 840 shares during the last quarter. Finally, Park Avenue Securities LLC grew its position in Hubbell by 47.9% during the first quarter. Park Avenue Securities LLC now owns 1,211 shares of the industrial products company’s stock valued at $502,000 after buying an additional 392 shares during the period. Hedge funds and other 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.