StockNews.com Lowers Hubbell (NYSE:HUBB) to Buy

StockNews.com cut shares of Hubbell (NYSE:HUBB – Get Rating) from a strong-buy rating to a buy rating in a research report report published on Tuesday.

A number of other equities analysts also recently commented on HUBB. Morgan Stanley upped their target price on Hubbell from $226.00 to $238.00 and gave the company an equal weight rating in a report on Wednesday, February 1st. JPMorgan Chase & Co. upgraded Hubbell from an underweight rating to a neutral rating and upped their target price for the company from $200.00 to $205.00 in a report on Wednesday, February 1st. Wells Fargo & Company decreased their target price on Hubbell from $225.00 to $221.00 and set an equal weight rating for the company in a report on Thursday, April 13th. Finally, Mizuho upped their target price on Hubbell from $252.00 to $300.00 in a report on Wednesday, April 26th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of Hold and a consensus target price of $237.33.

Hubbell Stock Performance

NYSE:HUBB opened at $286.60 on Tuesday. The business has a 50 day moving average of $250.21 and a 200 day moving average of $245.20. The company has a market capitalization of $15.36 billion, a price-to-earnings ratio of 27.37, a PEG ratio of 2.00 and a beta of 0.99. Hubbell has a 1-year low of $170.21 and a 1-year high of $286.69. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.99 and a quick ratio of 1.25.

Hubbell (NYSE:HUBB – Get Rating) last announced its quarterly earnings data on Tuesday, April 25th. The industrial products company reported $3.61 earnings per share for the quarter, beating the consensus estimate of $2.46 by $1.15. Hubbell had a return on equity of 27.72% and a net margin of 11.15%. The firm had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.25 billion. During the same quarter in the previous year, the company posted $2.12 earnings per share. The business’s revenue was up 11.2% on a year-over-year basis. On average, sell-side analysts predict that Hubbell will post 13.81 earnings per share for the current fiscal year.

Hubbell Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 15th. Stockholders of record on Wednesday, May 31st will be paid a $1.12 dividend. The ex-dividend date of this dividend is Tuesday, May 30th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 1.56%. Hubbell’s dividend payout ratio is currently 42.79%.

Insider Transactions at Hubbell

In other news, Director Carlos M. Cardoso sold 560 shares of the stock in a transaction on Friday, May 5th. The stock was sold at an average price of $273.16, for a total value of $152,969.60. Following the sale, the director now directly owns 1,711 shares of the company’s stock, valued at $467,376.76. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.66% of the company’s stock.

Institutional Investors Weigh In On Hubbell

Several institutional investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its position in shares of Hubbell by 1.0% during the third quarter. Vanguard Group Inc. now owns 5,542,232 shares of the industrial products company’s stock valued at $1,235,918,000 after buying an additional 57,469 shares during the last quarter. BlackRock Inc. boosted its position in shares of Hubbell by 1.7% during the first quarter. BlackRock Inc. now owns 5,457,568 shares of the industrial products company’s stock valued at $1,327,881,000 after buying an additional 89,491 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Hubbell by 42.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 5,028,010 shares of the industrial products company’s stock valued at $1,223,367,000 after buying an additional 1,509,684 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Hubbell by 5.8% during the first quarter. JPMorgan Chase & Co. now owns 2,731,202 shares of the industrial products company’s stock valued at $664,529,000 after buying an additional 148,953 shares during the last quarter. Finally, FMR LLC boosted its position in shares of Hubbell by 2.6% during the first quarter. FMR LLC now owns 2,007,156 shares of the industrial products company’s stock valued at $488,361,000 after buying an additional 50,956 shares during the last quarter. 89.71% of the stock is owned by hedge funds and other institutional investors.

Hubbell Company Profile

(Get Rating)

Hubbell, Inc engages in the designing, manufacturing, and sale of electrical and electronic products for non-residential and residential construction, industrial, and utility applications. It operates through the Electrical Solutions and Utility Solutions segments. The Electrical Solutions segment manufactures and sells wiring and electrical, lighting fixtures, and controls for indoor and outdoor applications as well as specialty lighting and communications products.