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

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

A number of other equities research analysts have also recently commented on HUBB. Stephens reissued an “overweight” rating and set a $450.00 target price on shares of Hubbell in a research report on Friday, August 2nd. JPMorgan Chase & Co. lowered Hubbell from an “overweight” rating to a “neutral” rating and increased their price objective for the company from $385.00 to $454.00 in a report on Thursday, October 10th. Mizuho boosted their target price on Hubbell from $450.00 to $490.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Sanford C. Bernstein assumed coverage on Hubbell in a research report on Tuesday, November 5th. They set an “outperform” rating and a $535.00 target price on the stock. Finally, Wells Fargo & Company boosted their price target on Hubbell from $445.00 to $455.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Hubbell currently has a consensus rating of “Moderate Buy” and an average price target of $445.56.

Hubbell Price Performance

NYSE HUBB opened at $437.61 on Thursday. The company has a market cap of $23.49 billion, a PE ratio of 31.53, a P/E/G ratio of 1.63 and a beta of 0.90. The firm’s 50 day moving average price is $435.08 and its 200-day moving average price is $399.80. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.05 and a current ratio of 1.66. Hubbell has a 52-week low of $287.06 and a 52-week high of $481.35.

Hubbell (NYSE:HUBB) last issued its quarterly earnings data 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 the consensus estimate of $1.48 billion. Hubbell had a return on equity of 28.81% and a net margin of 13.33%. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter last year, the company earned $3.95 earnings per share. Sell-side analysts forecast that Hubbell will post 16.47 EPS for the current fiscal year.

Hubbell Increases Dividend

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

Insider Activity at Hubbell

In other 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 completion of the sale, the insider now directly owns 2,957 shares in the company, valued at $1,378,553.40. The trade was a 27.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.66% of the company’s stock.

Institutional Investors Weigh In On Hubbell

Several institutional investors have recently bought and sold shares of the company. Groupama Asset Managment boosted its stake in Hubbell by 17.0% during the 3rd quarter. Groupama Asset Managment now owns 6,955 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 1,010 shares during the last quarter. Prospera Private Wealth LLC acquired a new stake in Hubbell in the 3rd quarter valued at about $33,000. Ashton Thomas Securities LLC purchased a new stake in shares of Hubbell in the third quarter valued at approximately $41,000. Quarry LP purchased a new position in Hubbell during the second quarter worth approximately $49,000. Finally, Northwest Investment Counselors LLC purchased a new stake in Hubbell in the 3rd quarter valued at $58,000. 88.16% of the stock is currently owned by institutional investors and hedge funds.

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.