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

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

Other equities research analysts have also issued research reports about the company. Deutsche Bank Aktiengesellschaft lowered Hubbell from a “buy” rating to a “hold” rating and dropped their target price for the company from $493.00 to $473.00 in a research report on Tuesday, November 26th. Barclays lifted their target price on Hubbell from $400.00 to $402.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Sanford C. Bernstein began coverage on Hubbell in a research report on Tuesday, November 5th. They issued an “outperform” rating and a $535.00 target price on the stock. Wells Fargo & Company lifted their target price 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, Morgan Stanley lifted their target price on Hubbell from $407.00 to $445.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $457.22.

Hubbell Stock Performance

Shares of NYSE:HUBB opened at $466.76 on Tuesday. Hubbell has a twelve month low of $300.54 and a twelve month high of $481.35. The firm has a market cap of $25.05 billion, a PE ratio of 33.63, a price-to-earnings-growth ratio of 1.70 and a beta of 0.91. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.05 and a current ratio of 1.66. The business has a fifty day moving average of $448.62 and a 200-day moving average of $406.07.

Hubbell (NYSE:HUBB) last issued its 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 return on equity of 28.81% and a net margin of 13.33%. The firm had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.48 billion. During the same quarter last year, the business earned $3.95 earnings per share. The company’s revenue was up 4.9% compared to the same quarter last year. On average, equities research analysts predict that Hubbell will post 16.47 EPS for the current fiscal year.

Hubbell Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be paid a dividend of $1.32 per share. This is an increase from Hubbell’s previous quarterly dividend of $1.22. This represents a $5.28 annualized dividend and a dividend yield of 1.13%. The ex-dividend date is Friday, November 29th. Hubbell’s payout ratio is currently 38.04%.

Insider Transactions at Hubbell

In other news, insider Mark Eugene Mikes sold 1,144 shares of Hubbell stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $466.20, for a total transaction of $533,332.80. Following the completion of the transaction, the insider now directly owns 2,957 shares in the company, valued at approximately $1,378,553.40. The trade was a 27.90 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.66% of the stock is currently owned by corporate insiders.

Institutional Trading of Hubbell

Several institutional investors have recently added to or reduced their stakes in HUBB. Atria Investments Inc bought a new stake in Hubbell in the 1st quarter valued at $1,190,000. Cetera Investment Advisers boosted its stake in Hubbell by 280.6% in the 1st quarter. Cetera Investment Advisers now owns 5,991 shares of the industrial products company’s stock valued at $2,486,000 after purchasing an additional 4,417 shares during the period. Cetera Advisors LLC bought a new stake in Hubbell in the 1st quarter valued at $582,000. Massmutual Trust Co. FSB ADV boosted its stake in Hubbell by 23.5% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 184 shares of the industrial products company’s stock valued at $67,000 after purchasing an additional 35 shares during the period. Finally, Harbor Capital Advisors Inc. boosted its stake in Hubbell by 12.2% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 1,135 shares of the industrial products company’s stock valued at $415,000 after purchasing an additional 123 shares during the period. 88.16% of the stock is currently owned by institutional investors.

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.