Hubbell (NYSE:HUBB) Price Target Cut to $470.00 by Analysts at JPMorgan Chase & Co.

Hubbell (NYSE:HUBB) had its price target trimmed by JPMorgan Chase & Co. from $486.00 to $470.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a neutral rating on the industrial products company’s stock.

Several other analysts also recently issued reports on the stock. Mizuho set a $515.00 price target on shares of Hubbell in a report on Wednesday, October 28th. Morgan Stanley set a $600.00 price objective on shares of Hubbell in a research note on Friday, October 16th. Wells Fargo & Company dropped their price objective on shares of Hubbell from $531.00 to $525.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 28th. Wall Street Zen downgraded Hubbell from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Finally, Evercore reaffirmed an “outperform” rating and issued a $630.00 target price on shares of Hubbell in a research note on Friday, October 9th. Six equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Hubbell has a consensus rating of “Moderate Buy” and a consensus price target of $544.22.

Hubbell Stock Performance

Shares of HUBB stock opened at $443.34 on Wednesday. The stock has a fifty day moving average price of $455.10 and a 200 day moving average price of $486.00. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.87 and a current ratio of 1.53. The stock has a market cap of $23.42 billion, a PE ratio of 21.79, a P/E/G ratio of 2.09 and a beta of 0.84. Hubbell has a 1 year low of $403.82 and a 1 year high of $565.50.

Hubbell (NYSE:HUBB) last posted its earnings results on Tuesday, October 27th. The industrial products company reported $5.91 earnings per share for the quarter, beating the consensus estimate of $5.75 by $0.16. The company had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.85 billion. Hubbell had a return on equity of 27.33% and a net margin of 13.78%. Hubbell’s revenue was up 24.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $5.17 earnings per share. Sell-side analysts forecast that Hubbell will post 20.55 earnings per share for the current fiscal year.

Hubbell Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Monday, November 30th will be paid a $1.52 dividend. This represents a $6.08 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Monday, November 30th. This is an increase from Hubbell’s previous quarterly dividend of $1.42. Hubbell’s dividend payout ratio is presently 33.29%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Schuylkill Financial LLC acquired a new position in Hubbell during the second quarter worth approximately $30,000. Keating Financial Advisory Services Inc. purchased a new position in Hubbell during the second quarter worth approximately $35,000. Fiduciary Financial Advisors acquired a new position in shares of Hubbell in the 2nd quarter valued at $37,000. Gen Wealth Partners Inc acquired a new position in shares of Hubbell in the 3rd quarter valued at $35,000. Finally, Arlington Trust Co LLC boosted its holdings in shares of Hubbell by 83.7% in the 2nd quarter. Arlington Trust Co LLC now owns 79 shares of the industrial products company’s stock valued at $41,000 after purchasing an additional 36 shares during the last quarter. Hedge funds and other institutional investors own 88.16% of the company’s stock.

About Hubbell

Hubbell Incorporated is a manufacturer of electrical and utility products serving customers in the energy, industrial, commercial and residential markets. Its products help support the generation, transmission and distribution of electricity, as well as the installation and use of electrical systems. The company’s Utility Solutions business makes products such as connectors, insulators, arresters and other equipment used in electric utility networks. Its Electrical Solutions business supplies wiring devices, lighting and controls, enclosures and related products for buildings and industrial applications.