Hubbell (NYSE:HUBB) Upgraded at StockNews.com

StockNews.com upgraded shares of Hubbell (NYSE:HUBB) from a hold rating to a buy rating in a report published on Tuesday.

HUBB has been the topic of a number of other research reports. Deutsche Bank Aktiengesellschaft raised shares of Hubbell from a “hold” rating to a “buy” rating and upped their price target for the company from $431.00 to $441.00 in a research note on Friday, September 6th. Morgan Stanley upped their target price on shares of Hubbell from $407.00 to $445.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Barclays lifted their price target on Hubbell from $400.00 to $402.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Wells Fargo & Company upped their price objective on Hubbell from $445.00 to $455.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. downgraded Hubbell from an “overweight” rating to a “neutral” rating and boosted their target price for the company from $385.00 to $454.00 in a research report on Thursday, October 10th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Hubbell presently has a consensus rating of “Moderate Buy” and a consensus price target of $445.56.

Hubbell Trading Up 3.5 %

Shares of Hubbell stock opened at $439.89 on Tuesday. Hubbell has a twelve month low of $274.42 and a twelve month high of $461.77. The company has a quick ratio of 1.05, a current ratio of 1.66 and a debt-to-equity ratio of 0.51. The business has a 50-day moving average price of $423.54 and a 200-day moving average price of $396.41. The firm has a market cap of $23.61 billion, a price-to-earnings ratio of 31.69, a PEG ratio of 1.58 and a beta of 0.90.

Hubbell (NYSE:HUBB) last released its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $4.49 earnings per share for the quarter, beating the consensus estimate of $4.47 by $0.02. The business had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.48 billion. Hubbell had a return on equity of 28.81% and a net margin of 13.33%. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter last year, the business posted $3.95 EPS. Equities research analysts anticipate that Hubbell will post 16.47 EPS for the current fiscal year.

Hubbell Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be issued a $1.32 dividend. This represents a $5.28 annualized dividend and a dividend yield of 1.20%. This is an increase from Hubbell’s previous quarterly dividend of $1.22. The ex-dividend date of this dividend is Friday, November 29th. Hubbell’s dividend payout ratio is presently 38.04%.

Insider Buying and Selling

In other Hubbell news, CEO Gerben Bakker sold 15,677 shares of the company’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $374.34, for a total value of $5,868,528.18. Following the transaction, the chief executive officer now owns 66,415 shares of the company’s stock, valued at $24,861,791.10. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.78% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Hubbell

Several large investors have recently added to or reduced their stakes in HUBB. Oppenheimer & Co. Inc. purchased a new position in shares of Hubbell during the third quarter worth approximately $255,000. Oppenheimer Asset Management Inc. increased its holdings in Hubbell by 37.0% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 1,321 shares of the industrial products company’s stock worth $566,000 after purchasing an additional 357 shares during the period. Bancreek Capital Management LP purchased a new position in Hubbell during the 3rd quarter worth $7,712,000. Nations Financial Group Inc. IA ADV raised its position in Hubbell by 3.3% during the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 5,484 shares of the industrial products company’s stock valued at $2,349,000 after purchasing an additional 176 shares in the last quarter. Finally, Ashton Thomas Securities LLC purchased a new stake in shares of Hubbell in the 3rd quarter worth $41,000. 88.16% of the stock is owned by hedge funds and other institutional investors.

About Hubbell

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.