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

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

A number of other equities research analysts have also recently issued reports on HUBB. Stephens reiterated an “overweight” rating and issued a $450.00 target price on shares of Hubbell in a research note on Friday, August 2nd. Mizuho raised their target price on Hubbell from $450.00 to $490.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. JPMorgan Chase & Co. cut Hubbell from an “overweight” rating to a “neutral” rating and raised their target price for the company from $385.00 to $454.00 in a research note on Thursday, October 10th. Sanford C. Bernstein assumed coverage on Hubbell in a research note on Tuesday, November 5th. They issued an “outperform” rating and a $535.00 target price on the stock. Finally, Wells Fargo & Company raised their target price on Hubbell from $445.00 to $455.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, Hubbell presently has an average rating of “Moderate Buy” and a consensus price target of $449.11.

Hubbell Stock Performance

Shares of HUBB opened at $458.81 on Monday. The business’s fifty day moving average price is $444.28 and its 200 day moving average price is $403.47. Hubbell has a 12-month low of $293.91 and a 12-month high of $481.35. The stock has a market capitalization of $24.62 billion, a PE ratio of 33.06, a price-to-earnings-growth ratio of 1.73 and a beta of 0.90. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.66 and a quick ratio of 1.05.

Hubbell (NYSE:HUBB) last announced its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $4.49 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $1.48 billion. During the same period last year, the business posted $3.95 earnings per share. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. Equities research analysts forecast that Hubbell will post 16.47 EPS for the current year.

Hubbell Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be issued a dividend of $1.32 per share. This is a positive change from Hubbell’s previous quarterly dividend of $1.22. This represents a $5.28 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date is Friday, November 29th. Hubbell’s payout ratio is presently 35.16%.

Insider Buying and Selling

In related news, insider Mark Eugene Mikes sold 1,144 shares of Hubbell stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $466.20, for a total value of $533,332.80. Following the transaction, the insider now owns 2,957 shares of the company’s stock, valued at approximately $1,378,553.40. This trade represents a 27.90 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.78% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Hubbell

Institutional investors have recently bought and sold shares of the stock. IFG Advisory LLC acquired a new stake in Hubbell during the 2nd quarter worth about $475,000. Acadian Asset Management LLC boosted its position in Hubbell by 51.3% during the 2nd quarter. Acadian Asset Management LLC now owns 3,693 shares of the industrial products company’s stock worth $1,347,000 after acquiring an additional 1,252 shares during the period. Great Valley Advisor Group Inc. boosted its position in Hubbell by 24.6% during the 2nd quarter. Great Valley Advisor Group Inc. now owns 6,873 shares of the industrial products company’s stock worth $2,511,000 after acquiring an additional 1,359 shares during the period. LGT Capital Partners LTD. acquired a new stake in Hubbell during the 3rd quarter worth about $39,687,000. Finally, DekaBank Deutsche Girozentrale boosted its position in Hubbell by 2.9% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 99,227 shares of the industrial products company’s stock worth $40,731,000 after acquiring an additional 2,822 shares during the period. Hedge funds and other institutional investors 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.