Hubbell (NYSE:HUBB) Lowered to Neutral at JPMorgan Chase & Co.

JPMorgan Chase & Co. cut shares of Hubbell (NYSE:HUBB) from an overweight rating to a neutral rating in a research report sent to investors on Thursday morning, Marketbeat Ratings reports. They currently have $454.00 price objective on the industrial products company’s stock, up from their prior price objective of $385.00.

A number of other analysts have also issued reports on the company. Wells Fargo & Company increased their target price on Hubbell from $400.00 to $445.00 and gave the company an equal weight rating in a report on Monday, October 7th. Deutsche Bank Aktiengesellschaft upgraded Hubbell from a hold rating to a buy rating and raised their price objective for the stock from $431.00 to $441.00 in a research report on Friday, September 6th. Morgan Stanley started coverage on Hubbell in a research note on Friday, September 6th. They set an equal weight rating and a $407.00 target price on the stock. Stephens reissued an overweight rating and issued a $450.00 price target on shares of Hubbell in a research report on Friday, August 2nd. Finally, Barclays boosted their price objective on shares of Hubbell from $368.00 to $400.00 and gave the company an equal weight rating in a research report on Wednesday, October 2nd. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average target price of $423.13.

Hubbell Trading Up 3.0 %

Shares of NYSE HUBB opened at $456.57 on Thursday. The company has a quick ratio of 1.13, a current ratio of 1.81 and a debt-to-equity ratio of 0.62. Hubbell has a 12 month low of $248.37 and a 12 month high of $457.00. The company has a market cap of $24.51 billion, a price-to-earnings ratio of 34.05, a P/E/G ratio of 1.67 and a beta of 0.90. The business has a fifty day simple moving average of $399.82 and a 200-day simple moving average of $392.08.

Hubbell (NYSE:HUBB) last released its earnings results on Tuesday, July 30th. The industrial products company reported $4.37 earnings per share for the quarter, topping the consensus estimate of $4.24 by $0.13. The business had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.48 billion. Hubbell had a net margin of 13.14% and a return on equity of 28.98%. The firm’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same period last year, the firm posted $4.07 earnings per share. Sell-side analysts predict that Hubbell will post 16.41 EPS for the current year.

Hubbell Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 30th were given a $1.22 dividend. This represents a $4.88 annualized dividend and a yield of 1.07%. The ex-dividend date was Friday, August 30th. Hubbell’s dividend payout ratio is 36.39%.

Insider Transactions at Hubbell

In related news, Director Carlos M. Cardoso sold 450 shares of Hubbell stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $364.54, for a total value of $164,043.00. Following the completion of the sale, the director now owns 1,670 shares of the company’s stock, valued at approximately $608,781.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Hubbell news, Director Carlos M. Cardoso sold 450 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $364.54, for a total transaction of $164,043.00. Following the transaction, the director now directly owns 1,670 shares in the company, valued at $608,781.80. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Gerben Bakker sold 15,677 shares of the company’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $374.34, for a total value of $5,868,528.18. Following the sale, the chief executive officer now owns 66,415 shares of the company’s stock, valued at approximately $24,861,791.10. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Hubbell

A number of institutional investors have recently modified their holdings of the company. FIL Ltd increased its stake in shares of Hubbell by 0.6% in the fourth quarter. FIL Ltd now owns 1,115,510 shares of the industrial products company’s stock worth $366,925,000 after purchasing an additional 6,526 shares during the period. V Square Quantitative Management LLC acquired a new position in shares of Hubbell during the fourth quarter worth approximately $210,000. Goldman Sachs Group Inc. boosted its position in shares of Hubbell by 52.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 397,321 shares of the industrial products company’s stock valued at $130,691,000 after acquiring an additional 137,179 shares during the period. Royal London Asset Management Ltd. grew its stake in shares of Hubbell by 61.5% in the fourth quarter. Royal London Asset Management Ltd. now owns 20,868 shares of the industrial products company’s stock worth $6,864,000 after acquiring an additional 7,950 shares during the last quarter. Finally, Wahed Invest LLC increased its position in Hubbell by 9.1% during the fourth quarter. Wahed Invest LLC now owns 914 shares of the industrial products company’s stock worth $301,000 after acquiring an additional 76 shares during the period. 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.