Hubbell (NYSE:HUBB) had its target price hoisted by Morgan Stanley from $129.00 to $130.00 in a research report released on Wednesday, Stock Target Advisor reports. They currently have an equal weight rating on the industrial products company’s stock.

A number of other research firms have also recently issued reports on HUBB. Zacks Investment Research upgraded HB Fuller from a sell rating to a hold rating in a research note on Wednesday, July 3rd. JMP Securities set a $146.00 target price on Hubbell and gave the company a buy rating in a research note on Tuesday, April 2nd. Finally, Stephens initiated coverage on Itron in a research note on Monday, July 8th. They issued an equal weight rating and a $64.00 target price on the stock. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock has an average rating of Hold and an average price target of $139.67.

Hubbell stock opened at $128.00 on Wednesday. The firm has a market capitalization of $6.83 billion, a P/E ratio of 16.74, a PEG ratio of 1.55 and a beta of 1.49. The stock has a fifty day simple moving average of $123.98. The company has a current ratio of 1.95, a quick ratio of 1.16 and a debt-to-equity ratio of 0.95. Hubbell has a 12 month low of $91.88 and a 12 month high of $137.67.

Hubbell (NYSE:HUBB) last released its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $1.57 EPS for the quarter, topping analysts’ consensus estimates of $1.55 by $0.02. The firm had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.10 billion. Hubbell had a net margin of 8.17% and a return on equity of 23.09%. The firm’s revenue was up 9.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.39 earnings per share. On average, research analysts predict that Hubbell will post 8.1 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Friday, May 31st were paid a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 2.63%. The ex-dividend date was Thursday, May 30th. Hubbell’s payout ratio is 46.09%.

In related news, insider Darrin S. Wegman sold 3,925 shares of Hubbell stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $127.06, for a total transaction of $498,710.50. Following the sale, the insider now directly owns 19,149 shares in the company, valued at $2,433,071.94. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Kevin Arthur Poyck sold 247 shares of Hubbell stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $122.00, for a total transaction of $30,134.00. Following the sale, the insider now owns 15,572 shares in the company, valued at $1,899,784. The disclosure for this sale can be found here. Insiders sold 19,177 shares of company stock worth $2,477,468 over the last quarter. 2.20% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of HUBB. CENTRAL TRUST Co raised its stake in shares of Hubbell by 125.0% during the second quarter. CENTRAL TRUST Co now owns 360 shares of the industrial products company’s stock valued at $45,000 after purchasing an additional 200 shares in the last quarter. Quadrant Capital Group LLC raised its stake in shares of Hubbell by 1,030.8% during the first quarter. Quadrant Capital Group LLC now owns 588 shares of the industrial products company’s stock valued at $68,000 after purchasing an additional 536 shares in the last quarter. Cutler Group LP raised its stake in shares of Hubbell by 300.0% during the first quarter. Cutler Group LP now owns 800 shares of the industrial products company’s stock valued at $94,000 after purchasing an additional 600 shares in the last quarter. Osborn Williams & Donohoe LLC bought a new stake in shares of Hubbell during the first quarter valued at about $100,000. Finally, Advisor Group Inc. raised its stake in shares of Hubbell by 49.7% during the fourth quarter. Advisor Group Inc. now owns 1,090 shares of the industrial products company’s stock valued at $108,000 after purchasing an additional 362 shares in the last quarter. Institutional investors and hedge funds own 85.48% of the company’s stock.

Hubbell Company Profile

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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Analyst Recommendations for Hubbell (NYSE:HUBB)

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