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

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

HUBB has been the subject of several other reports. Deutsche Bank Aktiengesellschaft upgraded Hubbell from a “hold” rating to a “buy” rating and increased their price target for the company from $431.00 to $441.00 in a report on Friday, September 6th. Sanford C. Bernstein began coverage on Hubbell in a report on Tuesday, November 5th. They set an “outperform” rating and a $535.00 target price on the stock. Mizuho upped their price target on Hubbell from $450.00 to $490.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. JPMorgan Chase & Co. lowered 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 research note on Thursday, October 10th. Finally, Wells Fargo & Company upped their target price on shares of Hubbell from $445.00 to $455.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $445.56.

Hubbell Stock Up 0.6 %

Shares of NYSE:HUBB opened at $463.78 on Monday. The stock has a 50-day simple moving average of $441.22 and a 200-day simple moving average of $402.32. The stock has a market capitalization of $24.89 billion, a P/E ratio of 33.41, a PEG ratio of 1.71 and a beta of 0.90. Hubbell has a 1 year low of $293.91 and a 1 year high of $481.35. 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 (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 the consensus estimate of $4.47 by $0.02. Hubbell had a net margin of 13.33% and a return on equity of 28.81%. The company had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same period in the previous year, the firm earned $3.95 earnings per share. Hubbell’s revenue for the quarter was up 4.9% on a year-over-year basis. Equities analysts forecast that Hubbell will post 16.47 earnings per share for the current year.

Hubbell Increases Dividend

The business also recently disclosed 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 is a positive change from Hubbell’s previous quarterly dividend of $1.22. This represents a $5.28 annualized dividend and a yield of 1.14%. The ex-dividend date of this dividend is Friday, November 29th. Hubbell’s dividend payout ratio (DPR) is currently 35.16%.

Insider Transactions at Hubbell

In other Hubbell news, insider Mark Eugene Mikes sold 1,144 shares of the stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $466.20, for a total transaction of $533,332.80. Following the transaction, the insider now owns 2,957 shares of the company’s stock, valued at $1,378,553.40. This trade represents a 27.90 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.78% of the company’s stock.

Institutional Investors Weigh In On Hubbell

Several institutional investors and hedge funds have recently made changes to their positions in the company. Mizuho Securities USA LLC increased its stake in Hubbell by 192,421.1% during 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 purchasing an additional 7,975,855 shares during the last quarter. State Street Corp grew its position in shares of Hubbell by 1.1% during the 3rd quarter. State Street Corp now owns 2,092,215 shares of the industrial products company’s stock valued at $896,200,000 after buying an additional 22,507 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Hubbell by 16.7% during the second quarter. Bank of New York Mellon Corp now owns 2,035,596 shares of the industrial products company’s stock worth $743,970,000 after acquiring an additional 291,850 shares during the period. International Assets Investment Management LLC lifted its holdings in Hubbell by 42,735.0% in the third quarter. International Assets Investment Management LLC now owns 1,919,865 shares of the industrial products company’s stock worth $8,223,740,000 after acquiring an additional 1,915,383 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its stake in Hubbell by 6.2% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,417,476 shares of the industrial products company’s stock valued at $607,176,000 after acquiring an additional 82,258 shares during the period. 88.16% of the stock is 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.