Hubbell (NYSE:HUBB) Downgraded by StockNews.com to “Hold”

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

Several other equities research analysts also recently commented on the company. Wells Fargo & Company decreased their price objective on Hubbell from $455.00 to $450.00 and set an “equal weight” rating for the company in a report on Tuesday, January 7th. Mizuho lifted their price target on Hubbell from $450.00 to $490.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Morgan Stanley boosted their price objective on Hubbell from $407.00 to $445.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Sanford C. Bernstein assumed coverage on Hubbell in a report on Tuesday, November 5th. They issued an “outperform” rating and a $535.00 target price on the stock. Finally, Deutsche Bank Aktiengesellschaft downgraded Hubbell from a “buy” rating to a “hold” rating and decreased their price target for the stock from $493.00 to $473.00 in a report on Tuesday, November 26th. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $471.50.

Hubbell Stock Performance

NYSE:HUBB opened at $426.92 on Tuesday. The firm has a market capitalization of $22.91 billion, a P/E ratio of 30.76, a P/E/G ratio of 1.57 and a beta of 0.93. Hubbell has a twelve month low of $334.17 and a twelve month high of $481.35. The company has a fifty day moving average of $440.67 and a 200-day moving average of $420.88. The company has a quick ratio of 1.05, a current ratio of 1.66 and a debt-to-equity ratio of 0.51.

Hubbell (NYSE:HUBB) last issued its earnings results on Tuesday, October 29th. The industrial products company reported $4.49 EPS for the quarter, beating the consensus estimate of $4.47 by $0.02. Hubbell had a return on equity of 28.81% and a net margin of 13.33%. The company had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same period last year, the business posted $3.95 EPS. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Hubbell will post 16.48 EPS for the current year.

Insider Activity at Hubbell

In related news, insider Mark Eugene Mikes sold 1,144 shares of the business’s stock in a transaction 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 sale, 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.66% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in HUBB. OLD National Bancorp IN boosted its position in shares of Hubbell by 3.8% in the third quarter. OLD National Bancorp IN now owns 596 shares of the industrial products company’s stock valued at $255,000 after acquiring an additional 22 shares during the period. MassMutual Private Wealth & Trust FSB lifted its stake in Hubbell by 12.3% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 228 shares of the industrial products company’s stock worth $96,000 after purchasing an additional 25 shares in the last quarter. JGP Wealth Management LLC boosted its holdings in Hubbell by 1.2% in the 4th quarter. JGP Wealth Management LLC now owns 2,110 shares of the industrial products company’s stock valued at $884,000 after purchasing an additional 26 shares during the period. Avestar Capital LLC grew its position in shares of Hubbell by 5.1% during the 3rd quarter. Avestar Capital LLC now owns 577 shares of the industrial products company’s stock valued at $247,000 after purchasing an additional 28 shares in the last quarter. Finally, Ballentine Partners LLC increased its holdings in shares of Hubbell by 3.2% in the third quarter. Ballentine Partners LLC now owns 956 shares of the industrial products company’s stock worth $410,000 after purchasing an additional 30 shares during the period. Hedge funds and other institutional investors own 88.16% of the company’s stock.

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.