ValuEngine upgraded shares of Hubbell (NYSE:HUBB) from a sell rating to a hold rating in a research report report published on Tuesday morning.
A number of other brokerages have also commented on HUBB. Zacks Investment Research upgraded Hubbell from a hold rating to a buy rating and set a $136.00 price target for the company in a report on Thursday, July 26th. Morgan Stanley upped their price target on Hubbell from $133.00 to $136.00 and gave the stock an overweight rating in a report on Wednesday, July 25th. Wells Fargo & Co reiterated an outperform rating and set a $140.00 price target (up from $135.00) on shares of Hubbell in a report on Wednesday, July 25th. JMP Securities upgraded Hubbell from a market perform rating to an outperform rating in a report on Monday, June 18th. Finally, Oppenheimer cut their price target on Hubbell from $160.00 to $140.00 and set an outperform rating for the company in a report on Wednesday, April 25th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Hubbell presently has an average rating of Buy and a consensus price target of $141.67.
HUBB opened at $120.85 on Tuesday. Hubbell has a twelve month low of $100.55 and a twelve month high of $149.03. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.99 and a quick ratio of 1.20. The company has a market capitalization of $6.46 billion, a P/E ratio of 20.38, a P/E/G ratio of 1.62 and a beta of 1.10.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 14th. Stockholders of record on Friday, August 31st will be given a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a dividend yield of 2.55%. The ex-dividend date of this dividend is Thursday, August 30th. Hubbell’s dividend payout ratio is presently 51.94%.
In other news, Director Neal J. Keating acquired 1,000 shares of the stock in a transaction dated Thursday, May 17th. The shares were acquired at an average cost of $105.96 per share, for a total transaction of $105,960.00. Following the completion of the transaction, the director now owns 6,571 shares in the company, valued at approximately $696,263.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.69% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in HUBB. American Century Companies Inc. increased its position in shares of Hubbell by 46.5% during the second quarter. American Century Companies Inc. now owns 2,792,582 shares of the industrial products company’s stock valued at $295,288,000 after purchasing an additional 885,909 shares during the period. Ceredex Value Advisors LLC bought a new stake in shares of Hubbell during the first quarter valued at approximately $64,010,000. FMR LLC increased its position in shares of Hubbell by 25.5% during the second quarter. FMR LLC now owns 1,662,452 shares of the industrial products company’s stock valued at $175,788,000 after purchasing an additional 337,915 shares during the period. BlackRock Inc. increased its position in shares of Hubbell by 7.1% during the second quarter. BlackRock Inc. now owns 4,951,945 shares of the industrial products company’s stock valued at $523,619,000 after purchasing an additional 329,485 shares during the period. Finally, Selz Capital LLC bought a new stake in shares of Hubbell during the second quarter valued at approximately $26,224,000. Institutional investors and hedge funds own 86.05% of the company’s stock.
Hubbell Incorporated designs, manufactures, and sells electrical and electronic products in the United States and internationally. It operates through two segments, Electrical and Power. The Electrical segment offers standard and special application wiring device products, rough-in electrical products, connector and grounding products, lighting fixtures and controls, 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 for the natural gas distribution market.
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