Zacks Investment Research cut shares of Hubbell (NYSE:HUBB) from a hold rating to a sell rating in a report published on Tuesday morning.
According to Zacks, “Hubbell Incorporated is engaged in the design, manufacture and sale of electrical and electronic products to commercial, industrial, utility and telecommunications markets. The Company’s products include plugs, receptacles, connectors, lighting fixtures, high voltage test and measurement equipment and voice and data signal processing components. Hubbell Incorporated is based in SHELTON, United States. “
HUBB has been the subject of several other reports. Wolfe Research raised Hubbell to a buy rating and set a $131.00 target price for the company in a report on Wednesday, October 24th. They noted that the move was a valuation call. ValuEngine cut Hubbell from a hold rating to a sell rating in a report on Tuesday, October 23rd. Finally, Morgan Stanley cut Hubbell from an overweight rating to an equal weight rating and lowered their target price for the stock from $131.00 to $109.00 in a report on Tuesday, December 18th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the stock. The stock has a consensus rating of Hold and an average price target of $134.17.
Shares of HUBB stock traded up $1.72 during trading on Tuesday, reaching $105.41. 31,674 shares of the company’s stock were exchanged, compared to its average volume of 361,735. The company has a current ratio of 1.88, a quick ratio of 1.16 and a debt-to-equity ratio of 1.01. The firm has a market capitalization of $5.60 billion, a PE ratio of 17.72, a PEG ratio of 1.31 and a beta of 1.32. Hubbell has a twelve month low of $91.88 and a twelve month high of $149.03.
Hubbell (NYSE:HUBB) last released its quarterly earnings results on Tuesday, October 23rd. The industrial products company reported $2.22 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.11 by $0.11. The business had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.17 billion. Hubbell had a return on equity of 23.08% and a net margin of 6.88%. The firm’s quarterly revenue was up 24.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.65 EPS. As a group, sell-side analysts predict that Hubbell will post 7.26 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, December 14th. Shareholders of record on Friday, November 30th were issued a $0.84 dividend. The ex-dividend date was Thursday, November 29th. This represents a $3.36 annualized dividend and a yield of 3.19%. This is a positive change from Hubbell’s previous quarterly dividend of $0.77. Hubbell’s dividend payout ratio is presently 56.66%.
In other Hubbell news, Director John F. Malloy purchased 994 shares of the firm’s stock in a transaction that occurred on Friday, October 26th. The stock was bought at an average cost of $100.82 per share, with a total value of $100,215.08. Following the completion of the transaction, the director now owns 13,020 shares of the company’s stock, valued at approximately $1,312,676.40. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Neal J. Keating purchased 1,000 shares of the firm’s stock in a transaction that occurred on Monday, October 29th. The shares were acquired at an average cost of $101.55 per share, with a total value of $101,550.00. Following the completion of the transaction, the director now directly owns 6,971 shares of the company’s stock, valued at approximately $707,905.05. The disclosure for this purchase can be found here. 0.69% of the stock is currently owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in HUBB. Cerebellum GP LLC grew its position in shares of Hubbell by 21.7% in the fourth quarter. Cerebellum GP LLC now owns 1,671 shares of the industrial products company’s stock valued at $166,000 after purchasing an additional 298 shares in the last quarter. MML Investors Services LLC boosted its stake in Hubbell by 16.2% during the third quarter. MML Investors Services LLC now owns 3,515 shares of the industrial products company’s stock valued at $469,000 after buying an additional 490 shares during the period. Oregon Public Employees Retirement Fund boosted its stake in Hubbell by 3.0% during the second quarter. Oregon Public Employees Retirement Fund now owns 21,415 shares of the industrial products company’s stock valued at $2,264,000 after buying an additional 617 shares during the period. Valeo Financial Advisors LLC boosted its stake in Hubbell by 156.4% during the third quarter. Valeo Financial Advisors LLC now owns 1,164 shares of the industrial products company’s stock valued at $118,000 after buying an additional 710 shares during the period. Finally, Envestnet Asset Management Inc. boosted its stake in Hubbell by 16.0% during the second quarter. Envestnet Asset Management Inc. now owns 5,227 shares of the industrial products company’s stock valued at $553,000 after buying an additional 722 shares during the period. 86.33% of the stock is owned by institutional investors and hedge funds.
Hubbell Incorporated designs, manufactures, and sells electrical and electronic products in the United States and internationally. It operates through two segments, Electrical and Power. The Electrical segment offers standard and special application wiring device products, rough-in electrical products, connector and grounding products, lighting fixtures and controls, 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.
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