Hubbell (NYSE:HUBB) Rating Increased to Buy at StockNews.com

Hubbell (NYSE:HUBB) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Thursday.

A number of other brokerages have also recently commented on HUBB. JPMorgan Chase & Co. cut shares of Hubbell from an “overweight” rating to a “neutral” rating and increased their target price for the company from $385.00 to $454.00 in a research report on Thursday, October 10th. Mizuho increased their price objective on shares of Hubbell from $450.00 to $490.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Deutsche Bank Aktiengesellschaft cut Hubbell from a “buy” rating to a “hold” rating and lowered their target price for the stock from $493.00 to $473.00 in a report on Tuesday, November 26th. Wells Fargo & Company dropped their price target on Hubbell from $455.00 to $450.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 7th. Finally, Barclays lifted their price objective on Hubbell from $402.00 to $475.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 5th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $471.50.

Hubbell Price Performance

Shares of HUBB stock traded up $4.87 on Thursday, reaching $433.80. 444,928 shares of the company were exchanged, compared to its average volume of 459,821. Hubbell has a 1 year low of $319.06 and a 1 year 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 business has a 50-day moving average price of $443.15 and a 200 day moving average price of $416.47. The company has a market cap of $23.28 billion, a price-to-earnings ratio of 31.25, a P/E/G ratio of 1.45 and a beta of 0.93.

Hubbell (NYSE:HUBB) last announced its earnings results on Tuesday, October 29th. The industrial products company reported $4.49 EPS for the quarter, beating 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 in the prior year, the firm earned $3.95 earnings per share. The business’s revenue was up 4.9% compared to the same quarter last year. Equities research analysts forecast that Hubbell will post 16.47 earnings per share for the current fiscal year.

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 value of $533,332.80. Following the transaction, the insider now 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 filing with the SEC, which is available through this link. 0.66% of the stock is owned by insiders.

Hedge Funds Weigh In On Hubbell

Several large investors have recently made changes to their positions in HUBB. Envestnet Asset Management Inc. lifted its stake in Hubbell by 7.8% during the second quarter. Envestnet Asset Management Inc. now owns 69,492 shares of the industrial products company’s stock worth $25,398,000 after purchasing an additional 5,037 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Hubbell by 6.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 376,518 shares of the industrial products company’s stock valued at $137,622,000 after buying an additional 22,951 shares during the period. Edgestream Partners L.P. acquired a new position in Hubbell during the 2nd quarter worth about $2,781,000. Mercer Global Advisors Inc. ADV boosted its holdings in Hubbell by 2.6% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 11,578 shares of the industrial products company’s stock valued at $4,232,000 after acquiring an additional 297 shares during the period. Finally, Vanguard Personalized Indexing Management LLC boosted its holdings in Hubbell by 6.8% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 8,584 shares of the industrial products company’s stock valued at $3,130,000 after acquiring an additional 543 shares during the period. 88.16% of the stock is currently owned by institutional investors and hedge funds.

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.