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

Hubbell (NYSE:HUBB) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday.

Other equities analysts also recently issued research reports about the stock. Deutsche Bank Aktiengesellschaft downgraded shares of Hubbell from a “buy” rating to a “hold” rating and cut their target price for the company from $493.00 to $473.00 in a research note on Tuesday, November 26th. Barclays decreased their target price on Hubbell from $422.00 to $400.00 and set an “equal weight” rating for the company in a research report on Wednesday. Finally, Wells Fargo & Company dropped 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. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Hubbell has an average rating of “Hold” and an average price target of $462.13.

Hubbell Trading Down 2.0 %

Shares of HUBB traded down $7.08 during mid-day trading on Wednesday, hitting $346.54. The company had a trading volume of 714,453 shares, compared to its average volume of 477,370. Hubbell has a 1-year low of $330.32 and a 1-year high of $481.35. The business’s 50-day simple moving average is $383.92 and its 200-day simple moving average is $419.27. The stock has a market cap of $18.60 billion, a PE ratio of 24.13, a P/E/G ratio of 1.34 and a beta of 0.94. The company has a quick ratio of 0.98, a current ratio of 1.64 and a debt-to-equity ratio of 0.44.

Hubbell (NYSE:HUBB) last announced its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $4.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.02 by $0.08. The company had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.41 billion. Hubbell had a net margin of 13.82% and a return on equity of 28.62%. The business’s quarterly revenue was down .9% compared to the same quarter last year. During the same period in the previous year, the company earned $3.69 EPS. Sell-side analysts forecast that Hubbell will post 17.63 earnings per share for the current year.

Hubbell announced that its Board of Directors has authorized a share repurchase plan on Wednesday, February 12th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the industrial products company to buy up to 2.4% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling

In other Hubbell news, insider Alyssa R. Flynn sold 1,164 shares of the firm’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $389.06, for a total value of $452,865.84. Following the sale, the insider now directly owns 4,327 shares in the company, valued at approximately $1,683,462.62. This trade represents a 21.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.66% of the stock is owned by company insiders.

Institutional Investors Weigh In On Hubbell

A number of hedge funds have recently made changes to their positions in the business. Creative Financial Designs Inc. ADV increased its position in Hubbell by 85.7% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 65 shares of the industrial products company’s stock valued at $27,000 after acquiring an additional 30 shares during the period. Stonebridge Financial Group LLC bought a new position in shares of Hubbell in the fourth quarter worth $30,000. Versant Capital Management Inc increased its holdings in shares of Hubbell by 64.6% during the fourth quarter. Versant Capital Management Inc now owns 79 shares of the industrial products company’s stock valued at $33,000 after purchasing an additional 31 shares during the period. Johnson Financial Group Inc. raised its stake in shares of Hubbell by 166.7% during the fourth quarter. Johnson Financial Group Inc. now owns 104 shares of the industrial products company’s stock valued at $44,000 after purchasing an additional 65 shares in the last quarter. Finally, Venturi Wealth Management LLC lifted its holdings in Hubbell by 69.7% in the fourth quarter. Venturi Wealth Management LLC now owns 129 shares of the industrial products company’s stock worth $54,000 after purchasing an additional 53 shares during the period. Institutional investors own 88.16% of the company’s stock.

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.