Hubbell (NYSE:HUBB) Stock Rating Upgraded by StockNews.com

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

HUBB has been the subject of a number of other research reports. Sanford C. Bernstein assumed coverage on shares of Hubbell in a research report on Tuesday, November 5th. They set an “outperform” rating and a $535.00 target price for the company. Barclays raised their price objective on shares of Hubbell from $402.00 to $475.00 and gave the stock an “equal weight” rating in a report on Thursday, December 5th. Wells Fargo & Company reduced their target price on Hubbell from $455.00 to $450.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 7th. Morgan Stanley raised their price target on Hubbell from $407.00 to $445.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Finally, Deutsche Bank Aktiengesellschaft cut Hubbell from a “buy” rating to a “hold” rating and decreased their target price for the stock from $493.00 to $473.00 in a report on Tuesday, November 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, Hubbell presently has an average rating of “Hold” and an average target price of $471.50.

Hubbell Stock Down 0.8 %

Shares of HUBB opened at $392.25 on Monday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.98 and a current ratio of 1.64. The company has a 50-day simple moving average of $422.89 and a 200-day simple moving average of $423.71. Hubbell has a 52 week low of $346.13 and a 52 week high of $481.35. The firm has a market capitalization of $21.05 billion, a P/E ratio of 27.32, a P/E/G ratio of 1.35 and a beta of 0.92.

Hubbell (NYSE:HUBB) last announced its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $4.10 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $1.41 billion. During the same quarter in the previous year, the firm posted $3.69 EPS. The business’s revenue for the quarter was down .9% on a year-over-year basis. On average, equities research analysts expect that Hubbell will post 17.63 earnings per share for the current year.

Hubbell Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be given a $1.32 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.35%. Hubbell’s payout ratio is 36.77%.

Hubbell announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, February 12th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the industrial products company to buy up to 2.4% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Institutional Trading of Hubbell

Several hedge funds have recently added to or reduced their stakes in HUBB. Creative Planning grew its stake in Hubbell by 19.3% during the third quarter. Creative Planning now owns 4,144 shares of the industrial products company’s stock worth $1,775,000 after buying an additional 671 shares in the last quarter. Blue Trust Inc. boosted its position in shares of Hubbell by 61.9% during the 3rd quarter. Blue Trust Inc. now owns 518 shares of the industrial products company’s stock worth $222,000 after acquiring an additional 198 shares in the last quarter. Raymond James & Associates increased its stake in Hubbell by 1.6% in the third quarter. Raymond James & Associates now owns 60,582 shares of the industrial products company’s stock valued at $25,950,000 after acquiring an additional 931 shares during the last quarter. Resonant Capital Advisors LLC increased its stake in Hubbell by 7.0% in the third quarter. Resonant Capital Advisors LLC now owns 716 shares of the industrial products company’s stock valued at $307,000 after acquiring an additional 47 shares during the last quarter. Finally, OLD National Bancorp IN raised its position in Hubbell by 3.8% during the third quarter. OLD National Bancorp IN now owns 596 shares of the industrial products company’s stock valued at $255,000 after purchasing an additional 22 shares in the last quarter. 88.16% of the stock is 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.