Hubbell (NYSE:HUBB) Downgraded by StockNews.com to Hold

StockNews.com cut shares of Hubbell (NYSE:HUBB) from a buy rating to a hold rating in a research note published on Tuesday morning.

HUBB has been the subject of several other research reports. Mizuho boosted their price target on shares of Hubbell from $450.00 to $490.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Sanford C. Bernstein began coverage on Hubbell in a research note on Tuesday, November 5th. They set an “outperform” rating and a $535.00 target price for the company. Deutsche Bank Aktiengesellschaft lowered Hubbell from a “buy” rating to a “hold” rating and reduced their price target for the company from $493.00 to $473.00 in a research report on Tuesday, November 26th. Wells Fargo & Company raised their price objective on shares of Hubbell from $445.00 to $455.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Finally, Barclays lifted their price target on Hubbell from $400.00 to $402.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $449.11.

Hubbell Stock Performance

Shares of HUBB stock opened at $457.82 on Tuesday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.05 and a current ratio of 1.66. The firm has a market cap of $24.57 billion, a P/E ratio of 32.98, a P/E/G ratio of 1.70 and a beta of 0.91. The firm’s 50 day moving average price is $446.95 and its 200-day moving average price is $405.20. Hubbell has a one year low of $295.90 and a one year high of $481.35.

Hubbell (NYSE:HUBB) last announced its earnings results on Tuesday, October 29th. The industrial products company reported $4.49 EPS for the quarter, beating analysts’ consensus estimates of $4.47 by $0.02. The company had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.48 billion. Hubbell had a return on equity of 28.81% and a net margin of 13.33%. Hubbell’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period last year, the business posted $3.95 EPS. As a group, equities research analysts predict that Hubbell will post 16.47 EPS for the current year.

Hubbell Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be issued a $1.32 dividend. This is an increase from Hubbell’s previous quarterly dividend of $1.22. This represents a $5.28 annualized dividend and a dividend yield of 1.15%. The ex-dividend date of this dividend is Friday, November 29th. Hubbell’s dividend payout ratio is presently 38.04%.

Insiders Place Their Bets

In other news, insider Mark Eugene Mikes sold 1,144 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $466.20, for a total transaction of $533,332.80. Following the completion of the sale, the insider now owns 2,957 shares in the company, valued at approximately $1,378,553.40. This represents a 27.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.78% of the stock is currently owned by insiders.

Institutional Trading of Hubbell

Several institutional investors and hedge funds have recently added to or reduced their stakes in HUBB. OLD National Bancorp IN grew its stake in shares of Hubbell by 3.8% in the 3rd 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 during the last quarter. CWM LLC grew its position in Hubbell by 2.2% in the 2nd quarter. CWM LLC now owns 1,319 shares of the industrial products company’s stock valued at $482,000 after buying an additional 28 shares during the last quarter. Avestar Capital LLC increased its stake in Hubbell by 5.1% in the 3rd quarter. Avestar Capital LLC now owns 577 shares of the industrial products company’s stock valued at $247,000 after buying an additional 28 shares during the period. Detalus Advisors LLC raised its position in Hubbell by 3.0% during the 2nd quarter. Detalus Advisors LLC now owns 1,030 shares of the industrial products company’s stock worth $377,000 after buying an additional 30 shares during the last quarter. Finally, Ballentine Partners LLC lifted its stake in shares of Hubbell by 3.2% in the 3rd quarter. Ballentine Partners LLC now owns 956 shares of the industrial products company’s stock worth $410,000 after acquiring an additional 30 shares during the period. 88.16% of the stock is owned by hedge funds and other institutional investors.

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.