Hubbell (NYSE:HUBB) Upgraded to “Buy” at StockNews.com

Hubbell (NYSE:HUBB) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Tuesday.

HUBB has been the subject of a number of other reports. Stephens restated an “overweight” rating and issued a $450.00 target price on shares of Hubbell in a research report on Friday, August 2nd. Barclays upped their target price on Hubbell from $400.00 to $402.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft upgraded Hubbell from a “hold” rating to a “buy” rating and upped their target price for the stock from $431.00 to $441.00 in a research report on Friday, September 6th. Wells Fargo & Company upped their target price on Hubbell from $445.00 to $455.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Finally, Sanford C. Bernstein initiated coverage on Hubbell in a research report on Tuesday. They issued an “outperform” rating and a $535.00 target price for the company. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $445.56.

Hubbell Stock Performance

HUBB opened at $472.12 on Tuesday. The business’s 50 day moving average is $425.20 and its 200-day moving average is $396.93. The stock has a market cap of $25.34 billion, a PE ratio of 34.01, a price-to-earnings-growth ratio of 1.58 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 twelve month low of $274.42 and a twelve month high of $481.35.

Hubbell (NYSE:HUBB) last released its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $4.49 earnings per share for the quarter, beating analysts’ consensus estimates of $4.47 by $0.02. The company had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.48 billion. Hubbell had a return on equity of 28.81% and a net margin of 13.33%. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.95 earnings per share. On average, analysts predict that Hubbell will post 16.47 earnings per share for the current year.

Insider Buying and Selling at Hubbell

In other Hubbell news, CEO Gerben Bakker sold 15,677 shares of the company’s stock in a transaction on 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 transaction, the chief executive officer now owns 66,415 shares of the company’s stock, valued at approximately $24,861,791.10. This 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 accessible through this hyperlink. 0.78% of the stock is owned by corporate insiders.

Institutional Trading of Hubbell

Large investors have recently added to or reduced their stakes in the company. Adero Partners LLC acquired a new position in shares of Hubbell in the third quarter worth $234,000. Vaughan Nelson Investment Management L.P. increased its stake in shares of Hubbell by 10.7% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 71,295 shares of the industrial products company’s stock worth $30,539,000 after acquiring an additional 6,891 shares during the last quarter. KPP Advisory Services LLC acquired a new position in shares of Hubbell in the third quarter worth $225,000. Natixis Advisors LLC increased its stake in shares of Hubbell by 2.0% in the third quarter. Natixis Advisors LLC now owns 22,445 shares of the industrial products company’s stock worth $9,614,000 after acquiring an additional 445 shares during the last quarter. Finally, Mizuho Securities USA LLC increased its stake 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 worth $3,418,233,000 after acquiring an additional 7,975,855 shares during the last quarter. 88.16% of the stock is owned by institutional investors and hedge funds.

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.