Hubbell (NYSE:HUBB) Cut to “Hold” at StockNews.com

StockNews.com downgraded shares of Hubbell (NYSE:HUBB) from a buy rating to a hold rating in a research report sent to investors on Tuesday morning.

A number of other equities research analysts have also recently issued reports on HUBB. Barclays boosted their target price on shares of Hubbell from $402.00 to $475.00 and gave the company an “equal weight” rating in a research report on Thursday, December 5th. Mizuho increased their price target on shares of Hubbell from $450.00 to $490.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Sanford C. Bernstein initiated coverage on shares of Hubbell in a research report on Tuesday, November 5th. They set an “outperform” rating and a $535.00 price objective for the company. Wells Fargo & Company reduced their target price on Hubbell from $455.00 to $450.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 7th. Finally, Morgan Stanley upped their price objective on Hubbell from $407.00 to $445.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $471.50.

Hubbell Trading Up 2.2 %

NYSE HUBB opened at $426.92 on Tuesday. The stock’s 50 day moving average price is $440.67 and its two-hundred day moving average price is $420.88. 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 has a 52 week low of $334.17 and a 52 week high of $481.35. The stock has a market capitalization of $22.91 billion, a price-to-earnings ratio of 30.76, a PEG ratio of 1.57 and a beta of 0.93.

Hubbell (NYSE:HUBB) last posted its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $4.49 EPS 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 business had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.48 billion. During the same quarter last year, the company posted $3.95 earnings per share. Hubbell’s quarterly revenue was up 4.9% on a year-over-year basis. As a group, analysts anticipate that Hubbell will post 16.48 earnings per share for the current fiscal year.

Insider Buying and Selling at Hubbell

In other news, insider Mark Eugene Mikes sold 1,144 shares of the firm’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 transaction, the insider now owns 2,957 shares of the company’s stock, valued at approximately $1,378,553.40. This trade represents a 27.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.66% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. 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 valued at $30,000 after buying an additional 1,010 shares during the period. Stonebridge Financial Group LLC bought a new stake in Hubbell in the fourth quarter valued at approximately $30,000. Prospera Private Wealth LLC acquired a new stake in Hubbell during the 3rd quarter valued at approximately $33,000. Versant Capital Management Inc raised its holdings in Hubbell by 64.6% during the 4th quarter. Versant Capital Management Inc now owns 79 shares of the industrial products company’s stock worth $33,000 after purchasing an additional 31 shares during the last quarter. Finally, Ashton Thomas Securities LLC acquired a new position in shares of Hubbell in the 3rd quarter worth approximately $41,000. 88.16% of the stock is owned by institutional investors.

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.