Hubbell (NYSE:HUBB) Upgraded by StockNews.com to Buy Rating

StockNews.com upgraded shares of Hubbell (NYSE:HUBB) from a hold rating to a buy rating in a research report report published on Thursday morning.

Several other equities research analysts have also recently weighed in on HUBB. Morgan Stanley upped their price target on Hubbell from $407.00 to $445.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Mizuho upped their target price on shares of Hubbell from $450.00 to $490.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Barclays raised their price target on shares of Hubbell from $402.00 to $475.00 and gave the company an “equal weight” rating in a report on Thursday, December 5th. Wells Fargo & Company reduced their price target on shares of Hubbell from $455.00 to $450.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 7th. Finally, JPMorgan Chase & Co. downgraded Hubbell from an “overweight” rating to a “neutral” rating and increased their price objective for the stock from $385.00 to $454.00 in a research report on Thursday, October 10th. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $471.50.

Hubbell Stock Performance

Shares of HUBB stock opened at $433.80 on Thursday. Hubbell has a 12 month low of $319.06 and a 12 month high of $481.35. The stock has a market capitalization of $23.28 billion, a P/E ratio of 31.25, a PEG ratio of 1.45 and a beta of 0.93. The company has a current ratio of 1.66, a quick ratio of 1.05 and a debt-to-equity ratio of 0.51. The firm’s 50 day moving average is $443.15 and its 200 day moving average is $416.47.

Hubbell (NYSE:HUBB) last posted its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $4.49 EPS for the quarter, topping analysts’ consensus estimates of $4.47 by $0.02. Hubbell had a return on equity of 28.81% and a net margin of 13.33%. The firm had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.48 billion. During the same period last year, the company earned $3.95 earnings per share. The business’s revenue for the quarter was up 4.9% on a year-over-year basis. On average, sell-side analysts anticipate that Hubbell will post 16.47 earnings per share for the current year.

Hubbell Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were given a dividend of $1.32 per share. This is an increase from Hubbell’s previous quarterly dividend of $1.22. The ex-dividend date was Friday, November 29th. This represents a $5.28 dividend on an annualized basis and a yield of 1.22%. Hubbell’s dividend payout ratio (DPR) is presently 38.04%.

Insider Buying and Selling

In related news, insider Mark Eugene Mikes sold 1,144 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $466.20, for a total transaction of $533,332.80. Following the transaction, the insider now directly owns 2,957 shares in the company, valued at $1,378,553.40. This trade represents a 27.90 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.66% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Hubbell

Several hedge funds and other institutional investors have recently modified their holdings of HUBB. Mizuho Securities USA LLC grew its position in shares of Hubbell by 192,421.1% in the 3rd quarter. Mizuho Securities USA LLC now owns 7,980,000 shares of the industrial products company’s stock worth $3,418,233,000 after buying an additional 7,975,855 shares during the last quarter. International Assets Investment Management LLC lifted its stake in Hubbell by 42,735.0% in the third quarter. International Assets Investment Management LLC now owns 1,919,865 shares of the industrial products company’s stock worth $8,223,740,000 after acquiring an additional 1,915,383 shares during the period. Impax Asset Management Group plc boosted its holdings in Hubbell by 30.3% in the third quarter. Impax Asset Management Group plc now owns 1,202,455 shares of the industrial products company’s stock valued at $514,377,000 after acquiring an additional 279,654 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Hubbell by 268.3% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 231,130 shares of the industrial products company’s stock valued at $99,005,000 after purchasing an additional 168,380 shares during the period. Finally, LGT Capital Partners LTD. bought a new position in Hubbell in the 3rd quarter worth $39,687,000. 88.16% of the stock is owned by institutional investors.

Hubbell Company Profile

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.