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 report issued on Thursday morning.

Other research analysts have also recently issued reports about the company. Deutsche Bank Aktiengesellschaft upgraded Hubbell from a “hold” rating to a “buy” rating and upped their price target for the stock from $431.00 to $441.00 in a research note on Friday, September 6th. Mizuho lifted their target price on Hubbell from $450.00 to $490.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Wells Fargo & Company increased their price target on shares of Hubbell from $445.00 to $455.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. cut shares of Hubbell from an “overweight” rating to a “neutral” rating and lifted their price objective for the company from $385.00 to $454.00 in a report on Thursday, October 10th. Finally, Sanford C. Bernstein started coverage on shares of Hubbell in a report on Tuesday, November 5th. They set an “outperform” rating and a $535.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $445.56.

Hubbell Price Performance

NYSE:HUBB opened at $437.61 on Thursday. Hubbell has a 52 week low of $287.06 and a 52 week high of $481.35. The stock’s fifty day moving average is $435.08 and its two-hundred day moving average is $399.80. The company has a market capitalization of $23.49 billion, a P/E ratio of 31.53, a P/E/G ratio of 1.63 and a beta of 0.90. The company has a quick ratio of 1.05, a current ratio of 1.66 and a debt-to-equity ratio of 0.51.

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

Hubbell Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be issued a dividend of $1.32 per share. This represents a $5.28 annualized dividend and a yield of 1.21%. The ex-dividend date is Friday, November 29th. This is a boost from Hubbell’s previous quarterly dividend of $1.22. Hubbell’s payout ratio is 38.04%.

Insider Buying and Selling at Hubbell

In related news, insider Mark Eugene Mikes sold 1,144 shares of the company’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 value of $533,332.80. Following the completion of the transaction, the insider now directly owns 2,957 shares of the company’s stock, valued at $1,378,553.40. This represents a 27.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.66% of the company’s stock.

Institutional Trading of Hubbell

Several institutional investors have recently modified their holdings of HUBB. Mizuho Securities USA LLC boosted its holdings in shares of Hubbell by 192,421.1% in the third quarter. Mizuho Securities USA LLC now owns 7,980,000 shares of the industrial products company’s stock valued at $3,418,233,000 after acquiring an additional 7,975,855 shares during the period. International Assets Investment Management LLC raised its stake in Hubbell by 42,735.0% during the 3rd quarter. International Assets Investment Management LLC now owns 1,919,865 shares of the industrial products company’s stock valued at $8,223,740,000 after acquiring an additional 1,915,383 shares during the last quarter. Impax Asset Management Group plc lifted its position in Hubbell by 53.8% during the 2nd quarter. Impax Asset Management Group plc now owns 922,801 shares of the industrial products company’s stock worth $336,984,000 after acquiring an additional 322,728 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Hubbell by 16.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,035,596 shares of the industrial products company’s stock valued at $743,970,000 after purchasing an additional 291,850 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its holdings in shares of Hubbell by 16.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,980,456 shares of the industrial products company’s stock valued at $821,989,000 after purchasing an additional 286,134 shares during the period. Hedge funds and other 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.