Hubbell (NYSE:HUBB) PT Lowered to $368.00 at Barclays

Hubbell (NYSE:HUBB) had its price objective trimmed by Barclays from $384.00 to $368.00 in a research note published on Wednesday morning, Benzinga reports. The firm currently has an equal weight rating on the industrial products company’s stock.

A number of other analysts also recently weighed in on the stock. JPMorgan Chase & Co. upped their target price on shares of Hubbell from $383.00 to $385.00 and gave the stock an overweight rating in a research report on Wednesday. Wells Fargo & Company upped their target price on shares of Hubbell from $397.00 to $400.00 and gave the stock an equal weight rating in a research report on Wednesday. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of Moderate Buy and an average price target of $402.57.

Hubbell Stock Down 3.6 %

Shares of NYSE HUBB opened at $366.19 on Wednesday. The company has a current ratio of 1.81, a quick ratio of 1.03 and a debt-to-equity ratio of 0.62. Hubbell has a 12 month low of $248.37 and a 12 month high of $429.61. The firm has a market capitalization of $19.66 billion, a PE ratio of 27.31, a price-to-earnings-growth ratio of 1.43 and a beta of 0.90. The firm has a fifty day simple moving average of $376.65 and a two-hundred day simple moving average of $380.74.

Hubbell (NYSE:HUBB) last issued its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $4.37 EPS for the quarter, topping the consensus estimate of $4.24 by $0.13. The business had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.48 billion. Hubbell had a net margin of 13.14% and a return on equity of 28.98%. The company’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same period in the prior year, the business earned $4.07 EPS. Equities analysts expect that Hubbell will post 16.38 earnings per share for the current year.

Hubbell Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Friday, August 30th will be given a dividend of $1.22 per share. This represents a $4.88 annualized dividend and a yield of 1.33%. The ex-dividend date of this dividend is Friday, August 30th. Hubbell’s dividend payout ratio (DPR) is 36.39%.

Insider Activity at Hubbell

In related news, insider Alyssa R. Flynn sold 1,106 shares of the stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $406.79, for a total transaction of $449,909.74. Following the sale, the insider now directly owns 4,234 shares of the company’s stock, valued at approximately $1,722,348.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Hubbell news, insider Mark Eugene Mikes sold 1,942 shares of the company’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $401.34, for a total transaction of $779,402.28. Following the transaction, the insider now owns 3,436 shares in the company, valued at approximately $1,379,004.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Alyssa R. Flynn sold 1,106 shares of the company’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $406.79, for a total transaction of $449,909.74. Following the transaction, the insider now owns 4,234 shares in the company, valued at approximately $1,722,348.86. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 3,055 shares of company stock valued at $1,232,139. 0.66% of the stock is owned by insiders.

Hedge Funds Weigh In On Hubbell

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Nvwm LLC bought a new position in Hubbell during the 1st quarter valued at about $25,000. EverSource Wealth Advisors LLC lifted its stake in shares of Hubbell by 1,850.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 78 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 74 shares during the period. Lindbrook Capital LLC lifted its stake in shares of Hubbell by 127.5% in the 4th quarter. Lindbrook Capital LLC now owns 91 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 51 shares during the period. Baillie Gifford & Co. bought a new position in shares of Hubbell in the 4th quarter worth approximately $33,000. Finally, Principal Securities Inc. bought a new position in shares of Hubbell in the 4th quarter worth approximately $40,000. 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.