Hubbell (NYSE:HUBB) Lowered to “Hold” Rating by StockNews.com

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

Other analysts have also recently issued research reports about the stock. 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. Barclays upped their price target on Hubbell from $400.00 to $402.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. cut 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 report on Thursday, October 10th. Mizuho upped their target price on shares of Hubbell from $450.00 to $490.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Finally, Sanford C. Bernstein began coverage on shares of Hubbell in a report on Tuesday, November 5th. They set an “outperform” rating and a $535.00 price target for the company. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $449.11.

Hubbell Stock Performance

HUBB opened at $457.17 on Tuesday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.05 and a current ratio of 1.66. The company has a market cap of $24.54 billion, a PE ratio of 32.94, a price-to-earnings-growth ratio of 1.71 and a beta of 0.90. The stock has a 50-day moving average of $446.29 and a 200-day moving average of $404.74. Hubbell has a 52-week low of $295.90 and a 52-week high of $481.35.

Hubbell (NYSE:HUBB) last released its earnings results on Tuesday, October 29th. The industrial products company reported $4.49 earnings per share for the quarter, topping analysts’ consensus estimates of $4.47 by $0.02. The firm had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.48 billion. Hubbell had a net margin of 13.33% and a return on equity of 28.81%. The business’s revenue was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.95 EPS. As a group, equities research analysts forecast that Hubbell will post 16.47 earnings per share for the current fiscal year.

Insider Buying and Selling at Hubbell

In related news, insider Mark Eugene Mikes sold 1,144 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $466.20, for a total transaction of $533,332.80. Following the completion of the sale, the insider now directly owns 2,957 shares of the company’s stock, 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 SEC, which is available at this link. Corporate insiders own 0.66% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Atria Investments Inc bought a new position in Hubbell during the 1st quarter worth approximately $1,190,000. Cetera Investment Advisers lifted its holdings in Hubbell by 280.6% during the first quarter. Cetera Investment Advisers now owns 5,991 shares of the industrial products company’s stock worth $2,486,000 after acquiring an additional 4,417 shares in the last quarter. Cetera Advisors LLC acquired a new position in Hubbell in the first quarter valued at about $582,000. Massmutual Trust Co. FSB ADV increased its holdings in shares of Hubbell by 23.5% in the second quarter. Massmutual Trust Co. FSB ADV now owns 184 shares of the industrial products company’s stock worth $67,000 after acquiring an additional 35 shares in the last quarter. Finally, Harbor Capital Advisors Inc. raised its position in shares of Hubbell by 12.2% during the second quarter. Harbor Capital Advisors Inc. now owns 1,135 shares of the industrial products company’s stock worth $415,000 after purchasing an additional 123 shares during the period. 88.16% of the stock is currently owned by institutional investors.

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.