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 morning.

Other analysts have also recently issued research reports about the stock. Deutsche Bank Aktiengesellschaft upgraded shares of Hubbell from a “hold” rating to a “buy” rating and raised their price objective for the company from $431.00 to $441.00 in a research note on Friday, September 6th. Morgan Stanley lifted their price target on shares of Hubbell from $407.00 to $445.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Wells Fargo & Company upped their price target on Hubbell from $445.00 to $455.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Mizuho raised their price objective on Hubbell from $450.00 to $490.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Finally, Barclays boosted their target price on Hubbell from $400.00 to $402.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $445.56.

Hubbell Price Performance

Shares of HUBB opened at $463.78 on Monday. The firm has a market capitalization of $24.89 billion, a PE ratio of 33.41, a P/E/G ratio of 1.71 and a beta of 0.90. The stock’s 50 day moving average is $441.22 and its two-hundred day moving average is $402.32. Hubbell has a twelve month low of $293.91 and a twelve month high of $481.35. The company has a current ratio of 1.66, a quick ratio of 1.05 and a debt-to-equity ratio of 0.51.

Hubbell (NYSE:HUBB) last announced its quarterly earnings data 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. Hubbell had a return on equity of 28.81% and a net margin of 13.33%. The firm had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.48 billion. During the same quarter in the prior year, the company posted $3.95 earnings per share. Hubbell’s quarterly revenue was up 4.9% on a year-over-year basis. Research analysts anticipate 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. Stockholders of record on Friday, November 29th will be given a $1.32 dividend. This is an increase from Hubbell’s previous quarterly dividend of $1.22. This represents a $5.28 annualized dividend and a dividend yield of 1.14%. The ex-dividend date is Friday, November 29th. Hubbell’s dividend payout ratio is currently 35.16%.

Insider Buying and Selling

In related news, insider Mark Eugene Mikes sold 1,144 shares of the company’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 transaction, the insider now owns 2,957 shares of the company’s stock, valued at approximately $1,378,553.40. This represents a 27.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.78% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. IFG Advisory LLC acquired a new position in Hubbell in the second quarter valued at $475,000. Acadian Asset Management LLC increased its stake in shares of Hubbell by 51.3% during the 2nd quarter. Acadian Asset Management LLC now owns 3,693 shares of the industrial products company’s stock valued at $1,347,000 after acquiring an additional 1,252 shares during the last quarter. Great Valley Advisor Group Inc. lifted its holdings in shares of Hubbell by 24.6% during the 2nd quarter. Great Valley Advisor Group Inc. now owns 6,873 shares of the industrial products company’s stock worth $2,511,000 after acquiring an additional 1,359 shares during the period. LGT Capital Partners LTD. acquired a new stake in shares of Hubbell in the third quarter worth approximately $39,687,000. Finally, DekaBank Deutsche Girozentrale grew its holdings in Hubbell by 2.9% in the first quarter. DekaBank Deutsche Girozentrale now owns 99,227 shares of the industrial products company’s stock valued at $40,731,000 after purchasing an additional 2,822 shares during the period. 88.16% of the stock is currently owned by institutional investors and hedge funds.

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.