Hubbell (NYSE:HUBB) Lowered to Hold Rating by StockNews.com

StockNews.com lowered shares of Hubbell (NYSE:HUBB) from a buy rating to a hold rating in a report published on Wednesday.

A number of other analysts have also recently commented on HUBB. Barclays lowered their price target on Hubbell from $422.00 to $400.00 and set an “equal weight” rating for the company in a research note on Wednesday. Deutsche Bank Aktiengesellschaft downgraded shares of Hubbell from a “buy” rating to a “hold” rating and lowered their target price for the company from $493.00 to $473.00 in a research note on Tuesday, November 26th. Finally, Wells Fargo & Company reduced their price target on shares of Hubbell from $455.00 to $450.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 7th. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Hubbell presently has an average rating of “Hold” and an average target price of $462.13.

Hubbell Price Performance

Shares of HUBB stock opened at $346.54 on Wednesday. The firm’s 50 day moving average price is $383.92 and its two-hundred day moving average price is $419.27. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.98 and a current ratio of 1.64. Hubbell has a 52-week low of $330.32 and a 52-week high of $481.35. The stock has a market cap of $18.60 billion, a PE ratio of 24.13, a PEG ratio of 1.34 and a beta of 0.94.

Hubbell (NYSE:HUBB) last posted its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $4.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.02 by $0.08. The business had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.41 billion. Hubbell had a return on equity of 28.62% and a net margin of 13.82%. The firm’s revenue was down .9% on a year-over-year basis. During the same period last year, the company earned $3.69 EPS. As a group, analysts forecast that Hubbell will post 17.63 EPS for the current year.

Hubbell Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, February 28th were issued a $1.32 dividend. This represents a $5.28 annualized dividend and a dividend yield of 1.52%. The ex-dividend date of this dividend was Friday, February 28th. Hubbell’s dividend payout ratio (DPR) is presently 36.77%.

Hubbell announced that its Board of Directors has approved a share repurchase program on Wednesday, February 12th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the industrial products company to purchase up to 2.4% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

Insider Activity at Hubbell

In other Hubbell news, insider Alyssa R. Flynn sold 1,164 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $389.06, for a total transaction of $452,865.84. Following the completion of the transaction, the insider now owns 4,327 shares of the company’s stock, valued at $1,683,462.62. This represents a 21.20 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.66% of the stock is currently owned by insiders.

Institutional Trading of Hubbell

A number of institutional investors have recently made changes to their positions in the business. Norges Bank bought a new stake in Hubbell during the fourth quarter worth about $195,218,000. Marshall Wace LLP increased its position in shares of Hubbell by 418.1% during the 4th quarter. Marshall Wace LLP now owns 307,050 shares of the industrial products company’s stock worth $128,620,000 after purchasing an additional 247,786 shares during the last quarter. Bain Capital Public Equity Management II LLC bought a new stake in shares of Hubbell during the 4th quarter worth approximately $95,868,000. PointState Capital LP acquired a new stake in shares of Hubbell in the 4th quarter valued at approximately $78,443,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Hubbell by 268.3% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 231,130 shares of the industrial products company’s stock valued at $99,005,000 after buying an additional 168,380 shares in the last quarter. Institutional investors own 88.16% of the company’s stock.

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.