Hubbell (NYSE:HUBB) Price Target Raised to $385.00 at JPMorgan Chase & Co.

Hubbell (NYSE:HUBB) had its target price hoisted by JPMorgan Chase & Co. from $383.00 to $385.00 in a report issued on Wednesday morning, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the industrial products company’s stock.

A number of other brokerages have also weighed in on HUBB. Barclays lowered their price objective on Hubbell from $400.00 to $384.00 and set an equal weight rating on the stock in a report on Thursday, May 2nd. Wells Fargo & Company lifted their price objective on Hubbell from $397.00 to $400.00 and gave the company an equal weight rating in a report on Wednesday. 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 MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus target price of $402.57.

Hubbell Stock Performance

NYSE HUBB opened at $366.19 on Wednesday. The company has a quick ratio of 1.03, a current ratio of 1.81 and a debt-to-equity ratio of 0.62. Hubbell has a 52-week low of $248.37 and a 52-week high of $429.61. The business’s 50-day moving average price is $376.65 and its 200 day moving average price is $380.74. The firm has a market cap of $19.66 billion, a P/E ratio of 27.31, a P/E/G ratio of 1.43 and a beta of 0.90.

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

Hubbell Dividend Announcement

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

Insider Transactions at Hubbell

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

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. National Bank of Canada FI raised its holdings in Hubbell by 24.6% in the 2nd 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 during the last quarter. Consolidated Planning Corp raised its holdings in Hubbell by 14.1% in the 2nd quarter. Consolidated Planning Corp now owns 3,625 shares of the industrial products company’s stock valued at $1,325,000 after acquiring an additional 447 shares during the last quarter. Oregon Public Employees Retirement Fund increased its holdings in shares of Hubbell by 1.1% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 4,609 shares of the industrial products company’s stock worth $1,684,000 after buying an additional 50 shares during the last quarter. Fiera Capital Corp increased its holdings in shares of Hubbell by 1.2% during the 2nd quarter. Fiera Capital Corp now owns 131,780 shares of the industrial products company’s stock worth $48,163,000 after buying an additional 1,577 shares during the last quarter. Finally, Versor Investments LP acquired a new stake in shares of Hubbell during the 2nd quarter worth $731,000. 88.16% of the stock is currently owned by institutional investors and hedge funds.

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.