Hubbell (NYSE:HUBB) Stock Rating Lowered by StockNews.com

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

Other equities analysts also recently issued research reports about the stock. Barclays boosted their target price on shares of Hubbell from $402.00 to $475.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 5th. Mizuho increased their price objective on Hubbell from $450.00 to $490.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Sanford C. Bernstein started coverage on Hubbell in a research note on Tuesday, November 5th. They set an “outperform” rating and a $535.00 target price for the company. Morgan Stanley increased their price target on shares of Hubbell from $407.00 to $445.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Finally, JPMorgan Chase & Co. downgraded shares of Hubbell from an “overweight” rating to a “neutral” rating and boosted their price objective for the stock from $385.00 to $454.00 in a research report on Thursday, October 10th. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Hubbell presently has a consensus rating of “Hold” and an average price target of $471.50.

Hubbell Price Performance

HUBB stock opened at $412.85 on Tuesday. Hubbell has a 1 year low of $326.13 and a 1 year high of $481.35. The firm has a market capitalization of $22.16 billion, a P/E ratio of 29.74, a P/E/G ratio of 1.57 and a beta of 0.93. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.66 and a quick ratio of 1.05. The business’s 50-day moving average is $441.23 and its two-hundred day moving average is $420.90.

Hubbell (NYSE:HUBB) last issued its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $4.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.47 by $0.02. Hubbell had a net margin of 13.33% and a return on equity of 28.81%. The company had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter in the previous year, the firm earned $3.95 earnings per share. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. Analysts anticipate that Hubbell will post 16.48 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Mark Eugene Mikes sold 1,144 shares of the firm’s stock in a transaction dated Thursday, November 7th. The stock was 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 $1,378,553.40. This trade 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. Corporate insiders own 0.66% of the company’s stock.

Institutional Trading of Hubbell

A number of hedge funds have recently added to or reduced their stakes in HUBB. OLD National Bancorp IN lifted its holdings in shares of Hubbell by 3.8% during the third quarter. OLD National Bancorp IN now owns 596 shares of the industrial products company’s stock worth $255,000 after purchasing an additional 22 shares during the period. MassMutual Private Wealth & Trust FSB raised its position in Hubbell by 12.3% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 228 shares of the industrial products company’s stock worth $96,000 after buying an additional 25 shares during the last quarter. JGP Wealth Management LLC lifted its stake in shares of Hubbell by 1.2% in the 4th quarter. JGP Wealth Management LLC now owns 2,110 shares of the industrial products company’s stock worth $884,000 after acquiring an additional 26 shares during the period. Avestar Capital LLC boosted its holdings in shares of Hubbell by 5.1% in the third quarter. Avestar Capital LLC now owns 577 shares of the industrial products company’s stock valued at $247,000 after acquiring an additional 28 shares in the last quarter. Finally, Ballentine Partners LLC increased its stake in shares of Hubbell by 3.2% during the third quarter. Ballentine Partners LLC now owns 956 shares of the industrial products company’s stock worth $410,000 after acquiring an additional 30 shares during the period. 88.16% of the stock is 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.