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

StockNews.com lowered shares of Hubbell (NYSE:HUBBGet Rating) from a buy rating to a hold rating in a research report sent to investors on Monday morning.

A number of other analysts have also recently weighed in on the stock. Morgan Stanley boosted their target price on shares of Hubbell from $198.00 to $200.00 and gave the stock an equal weight rating in a research note on Thursday, April 7th. Mizuho cut their price target on shares of Hubbell from $240.00 to $220.00 and set a buy rating on the stock in a report on Monday, February 7th. Finally, Zacks Investment Research upgraded shares of Hubbell from a sell rating to a hold rating in a report on Tuesday, February 15th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of Hold and an average price target of $205.00.

Shares of HUBB opened at $183.07 on Monday. Hubbell has a 12 month low of $170.76 and a 12 month high of $212.54. The firm’s 50 day moving average is $183.50 and its 200-day moving average is $193.21. The stock has a market capitalization of $9.96 billion, a PE ratio of 25.15, a P/E/G ratio of 2.03 and a beta of 1.26. The company has a current ratio of 1.76, a quick ratio of 1.14 and a debt-to-equity ratio of 0.64.

Hubbell (NYSE:HUBBGet Rating) last announced its quarterly earnings data on Thursday, February 3rd. The industrial products company reported $2.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.09 by ($0.02). The firm had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.22 billion. Hubbell had a net margin of 8.72% and a return on equity of 21.21%. The business’s revenue was up 20.0% compared to the same quarter last year. During the same period last year, the business earned $1.76 earnings per share. Equities research analysts predict that Hubbell will post 9.08 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 15th. Shareholders of record on Monday, February 28th were paid a $1.05 dividend. This represents a $4.20 annualized dividend and a yield of 2.29%. The ex-dividend date of this dividend was Friday, February 25th. Hubbell’s dividend payout ratio (DPR) is currently 57.69%.

In other Hubbell news, CFO William R. Sperry sold 10,000 shares of the company’s stock in a transaction dated Thursday, February 10th. The shares were sold at an average price of $188.70, for a total value of $1,887,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Gerben Bakker sold 1,148 shares of the company’s stock in a transaction dated Friday, February 11th. The stock was sold at an average price of $186.37, for a total transaction of $213,952.76. The disclosure for this sale can be found here. Insiders own 0.82% of the company’s stock.

Hedge funds have recently modified their holdings of the business. ACG Wealth boosted its stake in Hubbell by 10.1% in the first quarter. ACG Wealth now owns 4,629 shares of the industrial products company’s stock valued at $851,000 after acquiring an additional 423 shares during the last quarter. First Hawaiian Bank boosted its stake in Hubbell by 3.3% in the first quarter. First Hawaiian Bank now owns 5,338 shares of the industrial products company’s stock valued at $981,000 after acquiring an additional 170 shares during the last quarter. Bradley Foster & Sargent Inc. CT purchased a new position in Hubbell in the fourth quarter valued at about $213,000. apricus wealth LLC purchased a new position in Hubbell in the fourth quarter valued at about $1,464,000. Finally, Norges Bank purchased a new position in Hubbell in the fourth quarter valued at about $95,039,000. 84.71% of the stock is owned by institutional investors and hedge funds.

Hubbell Company Profile (Get Rating)

Hubbell Incorporated, together with its subsidiaries, designs, manufactures, and sells electrical and electronic products in the United States and internationally. It operates through two segments, Electrical Solution and Utility Solution. 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 for the natural gas distribution market.

Further Reading

Receive News & Ratings for Hubbell Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hubbell and related companies with MarketBeat.com's FREE daily email newsletter.