Brokerages Set Hubbell Incorporated (NYSE:HUBB) Target Price at $471.50

Hubbell Incorporated (NYSE:HUBB) has earned a consensus rating of “Hold” from the eight brokerages that are currently covering the company, Marketbeat Ratings reports. Five analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $471.50.

A number of analysts recently commented on the company. Deutsche Bank Aktiengesellschaft lowered Hubbell from a “buy” rating to a “hold” rating and decreased their price objective for the company from $493.00 to $473.00 in a research note on Tuesday, November 26th. Wells Fargo & Company dropped their target price on shares of Hubbell from $455.00 to $450.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 7th. StockNews.com lowered Hubbell from a “buy” rating to a “hold” rating in a research report on Tuesday. Morgan Stanley upped their target price on shares of Hubbell from $407.00 to $445.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Finally, Mizuho raised their price objective on Hubbell from $450.00 to $490.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th.

Insider Buying and Selling

In other Hubbell news, insider Mark Eugene Mikes sold 1,144 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $466.20, for a total transaction of $533,332.80. Following the sale, the insider now directly owns 2,957 shares of the company’s stock, valued at approximately $1,378,553.40. This represents a 27.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.66% of the stock is owned by insiders.

Institutional Investors Weigh In On Hubbell

A number of institutional investors and hedge funds have recently made changes to their positions in HUBB. Mizuho Securities USA LLC boosted its holdings in Hubbell by 192,421.1% during the third quarter. Mizuho Securities USA LLC now owns 7,980,000 shares of the industrial products company’s stock worth $3,418,233,000 after buying an additional 7,975,855 shares during the last quarter. State Street Corp lifted its position in Hubbell by 1.1% during the 3rd quarter. State Street Corp now owns 2,092,215 shares of the industrial products company’s stock worth $896,200,000 after buying an additional 22,507 shares in the last quarter. International Assets Investment Management LLC increased its position in shares of Hubbell by 42,735.0% during the 3rd quarter. International Assets Investment Management LLC now owns 1,919,865 shares of the industrial products company’s stock worth $8,223,740,000 after purchasing an additional 1,915,383 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in Hubbell by 6.2% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,417,476 shares of the industrial products company’s stock worth $607,176,000 after acquiring an additional 82,258 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Hubbell by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,254,905 shares of the industrial products company’s stock valued at $535,681,000 after purchasing an additional 8,278 shares during the period. Institutional investors own 88.16% of the company’s stock.

Hubbell Stock Up 1.1 %

HUBB stock opened at $417.96 on Friday. The company has a fifty day moving average price of $440.67 and a 200 day moving average price of $420.88. Hubbell has a 12 month low of $329.24 and a 12 month high of $481.35. The company has a market cap of $22.43 billion, a price-to-earnings ratio of 30.11, a price-to-earnings-growth ratio of 1.57 and a beta of 0.93. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.66 and a quick ratio of 1.05.

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 the consensus estimate of $4.47 by $0.02. Hubbell had a net margin of 13.33% and a return on equity of 28.81%. The firm had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.48 billion. During the same quarter last year, the business earned $3.95 earnings per share. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. Sell-side analysts expect that Hubbell will post 16.48 earnings per share for the current year.

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.