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 research note released on Thursday morning.

HUBB has been the subject of several other reports. Barclays increased their target price on shares of Hubbell from $400.00 to $402.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Morgan Stanley upped their price target on Hubbell from $407.00 to $445.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Sanford C. Bernstein initiated coverage on Hubbell in a research note on Tuesday, November 5th. They issued an “outperform” rating and a $535.00 price target for the company. Mizuho upped their target price on shares of Hubbell from $450.00 to $490.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Finally, JPMorgan Chase & Co. lowered shares of Hubbell from an “overweight” rating to a “neutral” rating and increased their price objective for the stock from $385.00 to $454.00 in a research report on Thursday, October 10th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Hubbell has a consensus rating of “Moderate Buy” and a consensus target price of $445.56.

Hubbell Stock Performance

Shares of NYSE HUBB traded up $1.21 during midday trading on Thursday, hitting $441.30. 149,083 shares of the company’s stock traded hands, compared to its average volume of 442,927. Hubbell has a 1 year low of $287.06 and a 1 year high of $481.35. The stock has a market capitalization of $23.68 billion, a price-to-earnings ratio of 31.71, a price-to-earnings-growth ratio of 1.69 and a beta of 0.90. 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 firm has a fifty day moving average of $432.35 and a 200 day moving average of $399.10.

Hubbell (NYSE:HUBB) last released its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $4.49 EPS for the quarter, beating the consensus estimate 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 for the quarter was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.95 EPS. On average, analysts forecast that Hubbell will post 16.47 earnings per share for the current year.

Hubbell Increases Dividend

The company also recently announced 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. The ex-dividend date of this dividend is Friday, November 29th. This represents a $5.28 dividend on an annualized basis and a yield of 1.20%. Hubbell’s dividend payout ratio is presently 35.16%.

Insiders Place Their Bets

In other news, insider Mark Eugene Mikes sold 1,144 shares of Hubbell stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $466.20, for a total value of $533,332.80. Following the sale, the insider now owns 2,957 shares in the company, valued at $1,378,553.40. This trade represents a 27.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.66% of the company’s stock.

Hedge Funds Weigh In On Hubbell

A number of institutional investors have recently bought and sold shares of HUBB. Prospera Private Wealth LLC acquired a new position in Hubbell during the 3rd quarter worth approximately $33,000. Ashton Thomas Securities LLC acquired a new position in shares of Hubbell in the 3rd quarter valued at $41,000. Quarry LP acquired a new position in shares of Hubbell in the 2nd quarter valued at $49,000. Northwest Investment Counselors LLC purchased a new stake in Hubbell in the 3rd quarter valued at $58,000. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in Hubbell in the 2nd quarter valued at $62,000. 88.16% of the stock is owned by hedge funds and other 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.