Hubbell (NYSE:HUBB) Upgraded at StockNews.com

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

Several other research analysts also recently issued reports on HUBB. Deutsche Bank Aktiengesellschaft raised Hubbell from a “hold” rating to a “buy” rating and upped their price objective for the company from $431.00 to $441.00 in a research note on Friday, September 6th. Wells Fargo & Company upped their price target on shares of Hubbell from $445.00 to $455.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Mizuho lifted their price target on shares of Hubbell from $450.00 to $490.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Morgan Stanley boosted their price objective on shares of Hubbell from $407.00 to $445.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Finally, Sanford C. Bernstein started coverage on Hubbell in a research report on Tuesday, November 5th. They set an “outperform” rating and a $535.00 target price for the company. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $445.56.

Hubbell Stock Down 0.6 %

Shares of NYSE HUBB opened at $437.61 on Thursday. The company has a market cap of $23.49 billion, a price-to-earnings ratio of 31.53, a PEG ratio of 1.63 and a beta of 0.90. The company has a current ratio of 1.66, a quick ratio of 1.05 and a debt-to-equity ratio of 0.51. Hubbell has a 12 month low of $287.06 and a 12 month high of $481.35. The stock has a 50-day moving average price of $435.08 and a two-hundred day moving average price of $399.60.

Hubbell (NYSE:HUBB) last released its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $4.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.47 by $0.02. Hubbell had a net margin of 13.33% and a return on equity of 28.81%. The business had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.48 billion. During the same period in the prior year, the company earned $3.95 EPS. The firm’s quarterly revenue was up 4.9% compared to the same quarter last year. As a group, analysts forecast that Hubbell will post 16.47 earnings per share for the current fiscal 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 given a dividend of $1.32 per share. The ex-dividend date is Friday, November 29th. This represents a $5.28 dividend on an annualized basis and a yield of 1.21%. This is a boost from Hubbell’s previous quarterly dividend of $1.22. Hubbell’s dividend payout ratio is 35.16%.

Insiders Place Their Bets

In other Hubbell news, insider Mark Eugene Mikes sold 1,144 shares of the business’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 transaction, the insider now directly owns 2,957 shares of the company’s stock, valued at approximately $1,378,553.40. The trade was a 27.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.66% of the company’s stock.

Institutional Trading of Hubbell

Several hedge funds have recently modified their holdings of the stock. Envestnet Portfolio Solutions Inc. increased its stake in Hubbell by 32.0% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 1,629 shares of the industrial products company’s stock valued at $676,000 after purchasing an additional 395 shares in the last quarter. Empowered Funds LLC acquired a new position in Hubbell during the 1st quarter worth approximately $327,000. Oppenheimer Asset Management Inc. boosted its holdings in Hubbell by 5.7% in the first quarter. Oppenheimer Asset Management Inc. now owns 968 shares of the industrial products company’s stock worth $402,000 after acquiring an additional 52 shares in the last quarter. Russell Investments Group Ltd. grew its stake in Hubbell by 4.1% in the first quarter. Russell Investments Group Ltd. now owns 36,282 shares of the industrial products company’s stock valued at $15,059,000 after acquiring an additional 1,421 shares during the period. Finally, Bleakley Financial Group LLC increased its holdings in shares of Hubbell by 4.5% during the first quarter. Bleakley Financial Group LLC now owns 2,146 shares of the industrial products company’s stock valued at $891,000 after acquiring an additional 92 shares in the last quarter. 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.