Hubbell (NYSE:HUBB) Stock Rating Upgraded by StockNews.com

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

A number of other research firms have also issued reports on HUBB. Stephens reissued an “overweight” rating and issued a $450.00 price target on shares of Hubbell in a research report on Friday, August 2nd. Mizuho lifted their price objective on Hubbell from $450.00 to $490.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Sanford C. Bernstein assumed coverage on Hubbell in a research report on Tuesday, November 5th. They issued an “outperform” rating and a $535.00 target price on the stock. Wells Fargo & Company raised 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. Finally, Morgan Stanley boosted their price target on Hubbell from $407.00 to $445.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Hubbell presently has a consensus rating of “Moderate Buy” and an average target price of $449.11.

Hubbell Stock Down 0.4 %

HUBB stock opened at $458.85 on Monday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.66 and a quick ratio of 1.05. The firm has a market capitalization of $24.63 billion, a P/E ratio of 33.06, a P/E/G ratio of 1.73 and a beta of 0.90. Hubbell has a 52-week low of $293.91 and a 52-week high of $481.35. The company’s 50 day simple moving average is $445.01 and its 200-day simple moving average is $403.86.

Hubbell (NYSE:HUBB) last announced its earnings results on Tuesday, October 29th. The industrial products company reported $4.49 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to the consensus estimate of $1.48 billion. During the same period in the previous year, the business earned $3.95 EPS. The company’s revenue was up 4.9% on a year-over-year basis. As a group, equities research analysts anticipate that Hubbell will post 16.47 EPS for the current year.

Hubbell Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be given a dividend of $1.32 per share. 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 1.15%. This is a boost from Hubbell’s previous quarterly dividend of $1.22. Hubbell’s dividend payout ratio is presently 35.16%.

Insider Buying and Selling at Hubbell

In related news, insider Mark Eugene Mikes sold 1,144 shares of the company’s stock in a transaction 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 approximately $1,378,553.40. This represents a 27.90 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.78% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Groupama Asset Managment increased its stake in shares of Hubbell by 17.0% in the third 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 period. Prospera Private Wealth LLC acquired a new stake in Hubbell in the 3rd quarter valued at approximately $33,000. Ashton Thomas Securities LLC bought a new position in Hubbell during the third quarter valued at about $41,000. Quarry LP acquired a new position in Hubbell in the 2nd quarter valued at approximately $49,000. Finally, Northwest Investment Counselors LLC bought a new stake in shares of Hubbell in the 3rd quarter worth approximately $58,000. Institutional investors and hedge funds own 88.16% of the company’s stock.

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.