Wells Fargo & Company Lowers Hubbell (NYSE:HUBB) Price Target to $450.00

Hubbell (NYSE:HUBB) had its price target trimmed by Wells Fargo & Company from $455.00 to $450.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has an equal weight rating on the industrial products company’s stock.

A number of other equities research analysts also recently weighed in on the company. Deutsche Bank Aktiengesellschaft downgraded Hubbell from a “buy” rating to a “hold” rating and dropped their price objective for the company from $493.00 to $473.00 in a research report on Tuesday, November 26th. Sanford C. Bernstein initiated coverage on shares of Hubbell in a research report on Tuesday, November 5th. They issued an “outperform” rating and a $535.00 price objective on the stock. Morgan Stanley increased their target price on shares of Hubbell from $407.00 to $445.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Barclays lifted their price target on shares of Hubbell from $402.00 to $475.00 and gave the stock an “equal weight” rating in a report on Thursday, December 5th. Finally, JPMorgan Chase & Co. lowered Hubbell from an “overweight” rating to a “neutral” rating and increased their price objective for the company from $385.00 to $454.00 in a report on Thursday, October 10th. 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 MarketBeat.com, Hubbell currently has a consensus rating of “Hold” and a consensus price target of $471.50.

Hubbell Trading Up 0.2 %

NYSE HUBB opened at $434.76 on Tuesday. The company’s 50-day simple moving average is $445.00 and its two-hundred day simple moving average is $414.50. Hubbell has a one year low of $319.03 and a one year high of $481.35. The company has a market capitalization of $23.33 billion, a price-to-earnings ratio of 31.32, a price-to-earnings-growth ratio of 1.69 and a beta of 0.93. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.05 and a current ratio of 1.66.

Hubbell (NYSE:HUBB) last issued its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $4.49 EPS for the quarter, topping analysts’ consensus estimates of $4.47 by $0.02. The company had revenue of $1.44 billion during 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%. Hubbell’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.95 earnings per share. Equities analysts forecast that Hubbell will post 16.47 EPS for the current fiscal year.

Hubbell Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 29th were paid a $1.32 dividend. This is a positive change from Hubbell’s previous quarterly dividend of $1.22. The ex-dividend date of this dividend was Friday, November 29th. This represents a $5.28 dividend on an annualized basis and a yield of 1.21%. Hubbell’s dividend payout ratio (DPR) is 38.04%.

Insider Buying and Selling at Hubbell

In other Hubbell news, insider Mark Eugene Mikes sold 1,144 shares of Hubbell stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $466.20, for a total transaction of $533,332.80. Following the completion of the sale, the insider now directly owns 2,957 shares in the company, valued at approximately $1,378,553.40. The trade was a 27.90 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 0.66% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in HUBB. Commonwealth Equity Services LLC grew its position in Hubbell by 0.9% during the 2nd quarter. Commonwealth Equity Services LLC now owns 10,665 shares of the industrial products company’s stock worth $3,898,000 after purchasing an additional 93 shares during the period. National Bank of Canada FI raised its position in Hubbell by 24.6% during the second quarter. National Bank of Canada FI now owns 14,756 shares of the industrial products company’s stock valued at $5,299,000 after acquiring an additional 2,915 shares in the last quarter. Private Advisor Group LLC lifted its holdings in Hubbell by 89.0% in the second quarter. Private Advisor Group LLC now owns 4,688 shares of the industrial products company’s stock valued at $1,713,000 after acquiring an additional 2,207 shares during the period. Savant Capital LLC lifted its holdings in Hubbell by 2.6% in the second quarter. Savant Capital LLC now owns 1,205 shares of the industrial products company’s stock valued at $440,000 after acquiring an additional 31 shares during the period. Finally, Acadian Asset Management LLC grew its stake in shares of Hubbell by 51.3% during the 2nd quarter. Acadian Asset Management LLC now owns 3,693 shares of the industrial products company’s stock worth $1,347,000 after purchasing an additional 1,252 shares during the period. Hedge funds and other institutional investors own 88.16% of the company’s stock.

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.