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 Thursday.

Other research analysts have also recently issued reports about the stock. Wells Fargo & Company dropped their target price on shares of Hubbell from $455.00 to $450.00 and set an “equal weight” rating for the company in a report on Tuesday, January 7th. Barclays dropped their price objective on Hubbell from $422.00 to $400.00 and set an “equal weight” rating for the company in a research note on Wednesday, March 26th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $462.13.

Hubbell Price Performance

Shares of HUBB opened at $315.69 on Thursday. The firm has a fifty day moving average price of $367.74 and a 200 day moving average price of $416.07. The stock has a market cap of $16.94 billion, a PE ratio of 21.98, a price-to-earnings-growth ratio of 1.34 and a beta of 0.95. Hubbell has a 1-year low of $299.43 and a 1-year high of $481.35. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.64 and a quick ratio of 0.98.

Hubbell (NYSE:HUBB) last issued its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $4.10 earnings per share for the quarter, topping analysts’ consensus estimates of $4.02 by $0.08. Hubbell had a net margin of 13.82% and a return on equity of 28.62%. The firm had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.41 billion. During the same quarter in the prior year, the business earned $3.69 EPS. Hubbell’s quarterly revenue was down .9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Hubbell will post 17.63 EPS for the current year.

Hubbell Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, February 28th were given a dividend of $1.32 per share. This represents a $5.28 annualized dividend and a yield of 1.67%. The ex-dividend date was Friday, February 28th. Hubbell’s payout ratio is 36.77%.

Hubbell announced that its board has authorized a stock buyback program on Wednesday, February 12th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the industrial products company to purchase up to 2.4% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In related news, insider Alyssa R. Flynn sold 1,164 shares of the stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $389.06, for a total value of $452,865.84. Following the completion of the sale, the insider now owns 4,327 shares in the company, valued at approximately $1,683,462.62. This trade represents a 21.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.66% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Salem Investment Counselors Inc. raised its holdings in Hubbell by 26.0% during the 4th quarter. Salem Investment Counselors Inc. now owns 9,144 shares of the industrial products company’s stock worth $3,830,000 after purchasing an additional 1,886 shares during the last quarter. Janney Montgomery Scott LLC grew its position in shares of Hubbell by 122.4% during the 4th quarter. Janney Montgomery Scott LLC now owns 28,723 shares of the industrial products company’s stock worth $12,032,000 after buying an additional 15,806 shares during the period. Principal Financial Group Inc. raised its stake in shares of Hubbell by 7.1% during the third quarter. Principal Financial Group Inc. now owns 229,210 shares of the industrial products company’s stock worth $98,187,000 after buying an additional 15,215 shares during the last quarter. Nordea Investment Management AB lifted its holdings in Hubbell by 29.6% in the fourth quarter. Nordea Investment Management AB now owns 160,630 shares of the industrial products company’s stock valued at $67,503,000 after buying an additional 36,643 shares during the period. Finally, SPX Gestao de Recursos Ltda bought a new position in Hubbell in the third quarter valued at approximately $9,985,000. 88.16% of the stock is currently 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.