Hubbell (NYSE:HUBB) Given New $207.00 Price Target at Morgan Stanley

Hubbell (NYSE:HUBB) had its price target decreased by Morgan Stanley from $209.00 to $207.00 in a report released on Friday, PriceTargets.com reports. Morgan Stanley currently has an equal weight rating on the industrial products company’s stock.

Several other research analysts have also recently issued reports on the company. Zacks Investment Research cut Hubbell from a hold rating to a sell rating in a research note on Wednesday, December 29th. Mizuho initiated coverage on Hubbell in a research note on Thursday, December 16th. They issued a buy rating and a $240.00 price objective for the company. Finally, Wells Fargo & Company initiated coverage on Hubbell in a research note on Thursday, October 7th. They issued an equal weight rating and a $192.00 price objective for the company.

Hubbell stock opened at $200.05 on Friday. The stock has a 50-day moving average of $205.72 and a two-hundred day moving average of $197.75. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.09 and a current ratio of 1.77. Hubbell has a one year low of $149.07 and a one year high of $212.54. The stock has a market cap of $10.88 billion, a PE ratio of 30.22, a price-to-earnings-growth ratio of 2.17 and a beta of 1.23.

Hubbell (NYSE:HUBB) last announced its quarterly earnings data on Tuesday, October 26th. The industrial products company reported $2.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.29 by ($0.05). Hubbell had a return on equity of 20.80% and a net margin of 8.03%. The firm had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.24 billion. During the same quarter in the previous year, the business earned $2.30 earnings per share. The company’s revenue for the quarter was up 9.5% compared to the same quarter last year. As a group, sell-side analysts predict that Hubbell will post 8.41 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 15th. Stockholders of record on Tuesday, November 30th were paid a $1.05 dividend. The ex-dividend date was Monday, November 29th. This is a positive change from Hubbell’s previous quarterly dividend of $0.98. This represents a $4.20 dividend on an annualized basis and a dividend yield of 2.10%. Hubbell’s payout ratio is currently 63.44%.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bogart Wealth LLC purchased a new stake in Hubbell in the third quarter valued at $36,000. Benjamin Edwards Inc. raised its holdings in shares of Hubbell by 12.7% in the 3rd quarter. Benjamin Edwards Inc. now owns 543 shares of the industrial products company’s stock valued at $98,000 after buying an additional 61 shares during the period. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Hubbell in the 2nd quarter valued at $107,000. First Horizon Advisors Inc. raised its holdings in shares of Hubbell by 12,940.0% in the 3rd quarter. First Horizon Advisors Inc. now owns 652 shares of the industrial products company’s stock valued at $118,000 after buying an additional 647 shares during the period. Finally, Rockefeller Capital Management L.P. increased its holdings in Hubbell by 60.1% during the 2nd quarter. Rockefeller Capital Management L.P. now owns 690 shares of the industrial products company’s stock worth $128,000 after purchasing an additional 259 shares during the period. 85.06% of the stock is currently owned by institutional investors.

About Hubbell

Hubbell, Inc engages in designing, manufacturing and sale of electrical and electronic products for non-residential and residential construction, industrial, and utility applications. It operates though the following segments: Electrical and Utility Solutions. The Electrical segment manufactures and sells wiring and electrical, lighting fixtures and controls for indoor and outdoor applications as well as specialty lighting and communications products.

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