Stephens Reiterates “Overweight” Rating for Hubbell (NYSE:HUBB)

Hubbell (NYSE:HUBB)‘s stock had its “overweight” rating reiterated by stock analysts at Stephens in a report released on Friday, Benzinga reports. They presently have a $450.00 target price on the industrial products company’s stock. Stephens’ price objective points to a potential upside of 23.63% from the company’s current price.

HUBB has been the subject of a number of other research reports. Barclays cut their price objective on shares of Hubbell from $384.00 to $368.00 and set an “equal weight” rating for the company 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 note on Wednesday. Finally, JPMorgan Chase & Co. upped their price target on shares of Hubbell from $383.00 to $385.00 and gave the stock an “overweight” rating in a research report on Wednesday. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $402.57.

Hubbell Stock Performance

Shares of Hubbell stock traded down $15.79 during trading hours on Friday, hitting $363.98. 337,814 shares of the company’s stock traded hands, compared to its average volume of 467,243. The company has a fifty day simple moving average of $377.58 and a 200-day simple moving average of $380.10. Hubbell has a 12-month low of $248.37 and a 12-month high of $429.61. The stock has a market capitalization of $19.54 billion, a price-to-earnings ratio of 27.24, a PEG ratio of 1.46 and a beta of 0.90. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.81 and a quick ratio of 1.03.

Hubbell (NYSE:HUBB) last issued its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $4.37 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter last year, the company posted $4.07 EPS. The company’s revenue for the quarter was up 6.3% on a year-over-year basis. Equities research analysts anticipate that Hubbell will post 16.36 EPS for the current fiscal year.

Insider Activity at Hubbell

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

Hedge Funds Weigh In On Hubbell

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of Hubbell by 15.9% during the 4th quarter. Vanguard Group Inc. now owns 6,696,582 shares of the industrial products company’s stock valued at $2,202,707,000 after purchasing an additional 918,808 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Hubbell by 16.7% in the second quarter. Bank of New York Mellon Corp now owns 2,035,596 shares of the industrial products company’s stock worth $743,970,000 after acquiring an additional 291,850 shares during the period. Price T Rowe Associates Inc. MD raised its position in Hubbell by 16.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,980,456 shares of the industrial products company’s stock valued at $821,989,000 after purchasing an additional 286,134 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in Hubbell by 24.4% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,268,560 shares of the industrial products company’s stock valued at $417,267,000 after purchasing an additional 248,493 shares in the last quarter. Finally, FIL Ltd increased its holdings in shares of Hubbell by 0.6% in the fourth quarter. FIL Ltd now owns 1,115,510 shares of the industrial products company’s stock worth $366,925,000 after buying an additional 6,526 shares during the period. Institutional investors and hedge funds 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.