Hubbell (NYSE:HUBB) Rating Increased to Strong-Buy at Wall Street Zen

Hubbell (NYSE:HUBB) was upgraded by equities researchers at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a report released on Saturday.

Several other equities research analysts have also weighed in on HUBB. Evercore ISI started coverage on shares of Hubbell in a report on Monday, December 15th. They issued an “outperform” rating and a $575.00 target price on the stock. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Hubbell in a research note on Thursday, January 22nd. JPMorgan Chase & Co. boosted their target price on Hubbell from $417.00 to $458.00 and gave the company a “neutral” rating in a research note on Wednesday, October 15th. Barclays raised their price target on Hubbell from $456.00 to $465.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 7th. Finally, Mizuho boosted their price objective on Hubbell from $480.00 to $500.00 and gave the company an “outperform” rating in a research report on Monday, January 5th. Five analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, Hubbell presently has a consensus rating of “Moderate Buy” and an average price target of $497.25.

Hubbell Stock Down 2.0%

Shares of Hubbell stock opened at $488.11 on Friday. The business has a fifty day simple moving average of $457.30 and a 200 day simple moving average of $442.25. The stock has a market cap of $25.94 billion, a PE ratio of 30.28, a price-to-earnings-growth ratio of 2.52 and a beta of 1.02. The company has a quick ratio of 0.85, a current ratio of 1.36 and a debt-to-equity ratio of 0.28. Hubbell has a 12 month low of $299.42 and a 12 month high of $501.32.

Hubbell (NYSE:HUBB) last issued its earnings results on Tuesday, October 28th. The industrial products company reported $5.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.98 by $0.19. The firm had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.54 billion. Hubbell had a return on equity of 27.68% and a net margin of 15.24%.The company’s revenue was up 4.1% compared to the same quarter last year. During the same quarter last year, the business earned $4.49 earnings per share. Research analysts predict that Hubbell will post 17.63 EPS for the current year.

Insider Buying and Selling

In other Hubbell news, insider Mark Eugene Mikes sold 2,470 shares of the company’s stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $466.50, for a total transaction of $1,152,255.00. Following the completion of the transaction, the insider owned 4,785 shares of the company’s stock, valued at $2,232,202.50. This represents a 34.05% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Alyssa R. Flynn sold 2,011 shares of Hubbell stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $470.32, for a total transaction of $945,813.52. Following the completion of the sale, the insider owned 3,243 shares in the company, valued at $1,525,247.76. This trade represents a 38.28% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.66% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. Townsquare Capital LLC increased its stake in Hubbell by 0.8% in the 3rd quarter. Townsquare Capital LLC now owns 2,817 shares of the industrial products company’s stock valued at $1,212,000 after buying an additional 22 shares during the last quarter. BSW Wealth Partners grew its holdings in shares of Hubbell by 2.9% in the 4th quarter. BSW Wealth Partners now owns 769 shares of the industrial products company’s stock valued at $341,000 after acquiring an additional 22 shares in the last quarter. Unique Wealth LLC increased its position in shares of Hubbell by 2.6% in the third quarter. Unique Wealth LLC now owns 897 shares of the industrial products company’s stock valued at $386,000 after acquiring an additional 23 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Hubbell by 2.2% in the fourth quarter. GAMMA Investing LLC now owns 1,065 shares of the industrial products company’s stock valued at $473,000 after acquiring an additional 23 shares during the last quarter. Finally, Benjamin Edwards Inc. raised its holdings in Hubbell by 2.0% during the second quarter. Benjamin Edwards Inc. now owns 1,237 shares of the industrial products company’s stock worth $505,000 after acquiring an additional 24 shares in the last quarter. Institutional investors and hedge funds own 88.16% of the company’s stock.

About Hubbell

Hubbell Incorporated (NYSE: HUBB) is an industrial manufacturer and distributor of electrical and electronic products serving a range of end markets including commercial and residential construction, industrial, and utility customers. Founded in 1888 by Harvey Hubbell, the company has a long history in electrical innovation and product development and is headquartered in Connecticut. Hubbell designs, manufactures and sells components and systems that enable the distribution and control of electrical power and provide lighting solutions for indoor and outdoor environments.

The company’s offerings span a broad portfolio of products used by contractors, utilities, original equipment manufacturers and facility owners.