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 published on Thursday.

A number of other research firms have also weighed in on HUBB. Morgan Stanley raised 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. Mizuho lifted their target price 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. Deutsche Bank Aktiengesellschaft upgraded Hubbell from a “hold” rating to a “buy” rating and boosted their target price for the stock from $431.00 to $441.00 in a research note on Friday, September 6th. Stephens reaffirmed an “overweight” rating and set a $450.00 price target on shares of Hubbell in a research report on Friday, August 2nd. Finally, Barclays boosted their price objective 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 issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Hubbell currently has a consensus rating of “Moderate Buy” and an average price target of $445.56.

Hubbell Stock Performance

Shares of HUBB opened at $437.61 on Thursday. Hubbell has a 52 week low of $287.06 and a 52 week high of $481.35. 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 stock has a 50 day moving average price of $435.08 and a two-hundred day moving average price of $399.60. The firm has a market capitalization of $23.49 billion, a P/E ratio of 31.53, a P/E/G ratio of 1.63 and a beta of 0.90.

Hubbell (NYSE:HUBB) last announced its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $4.49 earnings per share (EPS) for the quarter, topping the consensus estimate 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 the consensus estimate of $1.48 billion. During the same quarter in the prior year, the company posted $3.95 earnings per share. Hubbell’s revenue was up 4.9% compared to the same quarter last year. Equities analysts forecast that Hubbell will post 16.47 earnings per share for the current fiscal year.

Hubbell Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be paid a $1.32 dividend. This is an increase from Hubbell’s previous quarterly dividend of $1.22. The ex-dividend date is Friday, November 29th. This represents a $5.28 annualized dividend and a yield of 1.21%. Hubbell’s dividend payout ratio is presently 35.16%.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Hubbell

Large investors have recently modified their holdings of the business. Envestnet Portfolio Solutions Inc. boosted its holdings in Hubbell by 32.0% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 1,629 shares of the industrial products company’s stock worth $676,000 after buying an additional 395 shares during the period. Empowered Funds LLC purchased a new stake in shares of Hubbell during the first quarter worth $327,000. Oppenheimer Asset Management Inc. lifted its position in shares of Hubbell by 5.7% during the first quarter. Oppenheimer Asset Management Inc. now owns 968 shares of the industrial products company’s stock worth $402,000 after acquiring an additional 52 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of Hubbell by 4.1% in the first quarter. Russell Investments Group Ltd. now owns 36,282 shares of the industrial products company’s stock worth $15,059,000 after acquiring an additional 1,421 shares during the period. Finally, Bleakley Financial Group LLC grew its position in shares of Hubbell by 4.5% in the first quarter. Bleakley Financial Group LLC now owns 2,146 shares of the industrial products company’s stock valued at $891,000 after purchasing an additional 92 shares in the last quarter. Hedge funds and other institutional investors 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.