Hubbell (NYSE:HUBB) Rating Increased to Buy at StockNews.com

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

HUBB has been the subject of a number of other research reports. Deutsche Bank Aktiengesellschaft raised shares of Hubbell from a “hold” rating to a “buy” rating and increased their target price for the company from $431.00 to $441.00 in a research report on Friday, September 6th. Sanford C. Bernstein began coverage on shares of Hubbell in a research report on Tuesday. They set an “outperform” rating and a $535.00 target price for the company. JPMorgan Chase & Co. cut shares of Hubbell from an “overweight” rating to a “neutral” rating and increased their target price for the company from $385.00 to $454.00 in a research report on Thursday, October 10th. Mizuho increased their target price on shares of Hubbell from $450.00 to $490.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Finally, Morgan Stanley raised their price target on shares of Hubbell from $407.00 to $445.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Hubbell has an average rating of “Moderate Buy” and an average target price of $445.56.

Hubbell Price Performance

HUBB stock traded up $1.00 during mid-day trading on Tuesday, hitting $467.98. The company had a trading volume of 72,467 shares, compared to its average volume of 442,127. The company has a 50-day moving average price of $426.63 and a 200 day moving average price of $397.42. The company has a quick ratio of 1.05, a current ratio of 1.66 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $25.12 billion, a price-to-earnings ratio of 33.64, a P/E/G ratio of 1.58 and a beta of 0.90. Hubbell has a 12-month low of $281.45 and a 12-month high of $481.35.

Hubbell (NYSE:HUBB) last issued its earnings results on Tuesday, October 29th. The industrial products company reported $4.49 EPS for the quarter, topping analysts’ consensus estimates of $4.47 by $0.02. Hubbell had a net margin of 13.33% and a return on equity of 28.81%. The business had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.48 billion. During the same period in the prior year, the firm earned $3.95 EPS. The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. On average, research analysts anticipate that Hubbell will post 16.47 earnings per share for the current year.

Hubbell Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be given a dividend of $1.32 per share. This represents a $5.28 annualized dividend and a yield of 1.13%. The ex-dividend date of this dividend is Friday, November 29th. This is a positive change from Hubbell’s previous quarterly dividend of $1.22. Hubbell’s dividend payout ratio (DPR) is currently 35.16%.

Institutional Trading of Hubbell

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. OLD National Bancorp IN grew 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 buying an additional 22 shares during the period. CWM LLC grew its position in shares of Hubbell by 2.2% in the second quarter. CWM LLC now owns 1,319 shares of the industrial products company’s stock valued at $482,000 after purchasing an additional 28 shares during the period. Meeder Advisory Services Inc. grew its position in shares of Hubbell by 3.8% in the first quarter. Meeder Advisory Services Inc. now owns 816 shares of the industrial products company’s stock valued at $339,000 after purchasing an additional 30 shares during the period. Detalus Advisors LLC grew its position in shares of Hubbell by 3.0% in the second quarter. Detalus Advisors LLC now owns 1,030 shares of the industrial products company’s stock valued at $377,000 after purchasing an additional 30 shares during the period. Finally, Ballentine Partners LLC grew its position in shares of Hubbell by 3.2% in the third quarter. Ballentine Partners LLC now owns 956 shares of the industrial products company’s stock valued at $410,000 after purchasing an additional 30 shares during the period. Institutional investors and hedge funds own 88.16% of the company’s stock.

About Hubbell

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.