Hubbell (NYSE:HUBB) had its price target raised by JPMorgan Chase & Co. from $135.00 to $145.00 in a research note released on Thursday morning, BenzingaRatingsTable reports. They currently have an overweight rating on the industrial products company’s stock.
A number of other research firms also recently issued reports on HUBB. Stephens began coverage on Hubbell in a research report on Monday, July 8th. They issued an overweight rating and a $140.00 target price on the stock. G.Research reaffirmed a buy rating on shares of Hubbell in a research report on Wednesday, August 21st. Zacks Investment Research downgraded Hubbell from a hold rating to a sell rating in a research report on Thursday. Morgan Stanley set a $138.00 target price on Hubbell and gave the company a hold rating in a research report on Wednesday, July 31st. Finally, Gabelli began coverage on Hubbell in a research report on Wednesday, August 21st. They issued a buy rating and a $160.00 target price on the stock. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average price target of $144.43.
Shares of Hubbell stock traded up $0.98 during trading on Thursday, reaching $133.13. The stock had a trading volume of 161,252 shares, compared to its average volume of 316,319. The company has a market capitalization of $7.15 billion, a price-to-earnings ratio of 18.26, a P/E/G ratio of 1.74 and a beta of 1.48. The stock has a fifty day moving average price of $131.38 and a two-hundred day moving average price of $126.27. Hubbell has a 52 week low of $91.88 and a 52 week high of $137.97. The company has a current ratio of 1.98, a quick ratio of 1.22 and a debt-to-equity ratio of 0.93.
Hubbell (NYSE:HUBB) last issued its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $2.31 EPS for the quarter, beating analysts’ consensus estimates of $2.15 by $0.16. The company had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.21 billion. Hubbell had a return on equity of 23.63% and a net margin of 8.03%. The company’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same period in the previous year, the company posted $2.09 earnings per share. On average, equities analysts forecast that Hubbell will post 8.08 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 30th were given a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.52%. The ex-dividend date of this dividend was Thursday, August 29th. Hubbell’s dividend payout ratio is currently 46.09%.
In other Hubbell news, Director Neal J. Keating purchased 500 shares of the stock in a transaction on Tuesday, August 6th. The shares were purchased at an average price of $125.77 per share, with a total value of $62,885.00. Following the completion of the transaction, the director now directly owns 7,578 shares in the company, valued at $953,085.06. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Stephen M. Mais sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $127.41, for a total value of $254,820.00. Following the transaction, the vice president now directly owns 14,784 shares in the company, valued at approximately $1,883,629.44. The disclosure for this sale can be found here. 2.20% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Mid Atlantic Financial Management Inc. ADV acquired a new position in shares of Hubbell in the second quarter valued at approximately $316,000. Coastal Capital Group Inc. acquired a new position in shares of Hubbell in the second quarter valued at approximately $66,000. Steward Partners Investment Advisory LLC acquired a new position in shares of Hubbell in the second quarter valued at approximately $61,000. Johnson Investment Counsel Inc. grew its position in shares of Hubbell by 13.5% in the second quarter. Johnson Investment Counsel Inc. now owns 394,690 shares of the industrial products company’s stock valued at $51,467,000 after purchasing an additional 46,798 shares during the last quarter. Finally, Northern Trust Corp grew its position in shares of Hubbell by 2.5% in the second quarter. Northern Trust Corp now owns 452,630 shares of the industrial products company’s stock valued at $59,022,000 after purchasing an additional 11,025 shares during the last quarter. 85.91% of the stock is currently owned by hedge funds and other institutional investors.
Hubbell Incorporated designs, manufactures, and sells electrical and electronic products in the United States and internationally. It operates through two segments, Electrical and Power. The Electrical segment offers standard and special application wiring device products, rough-in electrical products, connector and grounding products, lighting fixtures and controls, 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 for the natural gas distribution market.
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