Hubbell (NYSE:HUBB) Given a $420.00 Price Target by Wells Fargo & Company Analysts

Hubbell (NYSE:HUBB) received a $420.00 price objective from research analysts at Wells Fargo & Company in a research report issued on Tuesday, MarketBeat reports. The brokerage currently has an “equal weight” rating on the industrial products company’s stock. Wells Fargo & Company‘s price objective points to a potential upside of 1.15% from the stock’s current price.

HUBB has been the topic of a number of other reports. Barclays upped their price target on Hubbell from $400.00 to $414.00 and gave the company an “equal weight” rating in a research report on Monday, June 9th. Wall Street Zen lowered shares of Hubbell from a “buy” rating to a “hold” rating in a report on Friday, April 11th. Finally, JPMorgan Chase & Co. increased their target price on shares of Hubbell from $352.00 to $417.00 and gave the stock a “neutral” rating in a research report on Friday, May 16th. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Hubbell currently has a consensus rating of “Hold” and a consensus price target of $455.50.

Hubbell Trading Up 1.1%

Shares of Hubbell stock opened at $415.23 on Tuesday. Hubbell has a 52-week low of $299.43 and a 52-week high of $481.35. The firm has a market capitalization of $22.16 billion, a PE ratio of 28.09, a price-to-earnings-growth ratio of 1.44 and a beta of 0.99. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.17 and a quick ratio of 0.73. The company’s fifty day moving average price is $384.47 and its two-hundred day moving average price is $383.99.

Hubbell (NYSE:HUBB) last issued its earnings results on Thursday, May 1st. The industrial products company reported $3.50 earnings per share for the quarter, missing the consensus estimate of $3.73 by ($0.23). The business had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.39 billion. Hubbell had a net margin of 14.29% and a return on equity of 27.68%. Hubbell’s revenue was down 2.4% on a year-over-year basis. During the same quarter last year, the firm posted $3.60 earnings per share. On average, analysts expect that Hubbell will post 17.63 EPS for the current year.

Insider Transactions at Hubbell

In other news, CEO Gerben Bakker sold 7,723 shares of the company’s stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $384.63, for a total transaction of $2,970,497.49. Following the transaction, the chief executive officer directly owned 82,101 shares in the company, valued at approximately $31,578,507.63. This represents a 8.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Carlos M. Cardoso sold 400 shares of the stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $386.29, for a total value of $154,516.00. Following the completion of the transaction, the director owned 1,727 shares in the company, valued at $667,122.83. The trade was a 18.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.66% of the company’s stock.

Institutional Trading of Hubbell

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HUBB. Nuveen LLC acquired a new position in shares of Hubbell in the 1st quarter valued at $213,283,000. Adage Capital Partners GP L.L.C. lifted its stake in Hubbell by 181.6% in the first quarter. Adage Capital Partners GP L.L.C. now owns 975,196 shares of the industrial products company’s stock valued at $322,702,000 after buying an additional 628,886 shares during the period. Norges Bank bought a new position in Hubbell during the fourth quarter worth about $195,218,000. Deutsche Bank AG increased its stake in shares of Hubbell by 35.1% in the 1st quarter. Deutsche Bank AG now owns 1,104,085 shares of the industrial products company’s stock valued at $365,353,000 after acquiring an additional 287,047 shares during the last quarter. Finally, Marshall Wace LLP raised its position in shares of Hubbell by 418.1% in the 4th quarter. Marshall Wace LLP now owns 307,050 shares of the industrial products company’s stock valued at $128,620,000 after acquiring an additional 247,786 shares during the period. 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.