Hubbell (NYSE:HUBB) Rating Lowered to “Hold” at StockNews.com

Hubbell (NYSE:HUBB) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Tuesday.

Several other equities research analysts have also issued reports on the stock. Morgan Stanley lifted their price objective on shares of Hubbell from $407.00 to $445.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Wells Fargo & Company boosted their target price on shares of Hubbell from $445.00 to $455.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft lowered shares of Hubbell from a “buy” rating to a “hold” rating and cut their target price for the stock from $493.00 to $473.00 in a research report on Tuesday, November 26th. Mizuho boosted their price objective on shares of Hubbell from $450.00 to $490.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Finally, Sanford C. Bernstein started coverage on shares of Hubbell in a report on Tuesday, November 5th. They set an “outperform” rating and a $535.00 price objective on the stock. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $449.11.

Hubbell Trading Up 2.5 %

Shares of NYSE:HUBB opened at $469.17 on Tuesday. The firm has a fifty day moving average of $447.85 and a two-hundred day moving average of $405.65. The firm has a market capitalization of $25.18 billion, a P/E ratio of 33.80, a price-to-earnings-growth ratio of 1.70 and a beta of 0.91. Hubbell has a 12-month low of $295.90 and a 12-month high of $481.35. The company has a quick ratio of 1.05, a current ratio of 1.66 and a debt-to-equity ratio of 0.51.

Hubbell (NYSE:HUBB) last released its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $4.49 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $1.48 billion. During the same quarter in the previous year, the business earned $3.95 EPS. Hubbell’s quarterly revenue was up 4.9% compared to the same quarter last year. On average, equities analysts expect that Hubbell will post 16.47 EPS for the current fiscal year.

Insider Transactions at Hubbell

In other news, insider Mark Eugene Mikes sold 1,144 shares of the stock in a transaction on 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 of the company’s stock, valued at $1,378,553.40. This represents a 27.90 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.66% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Groupama Asset Managment raised its stake in Hubbell by 17.0% in the 3rd quarter. Groupama Asset Managment now owns 6,955 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 1,010 shares in the last quarter. Prospera Private Wealth LLC acquired a new stake in Hubbell in the 3rd quarter worth about $33,000. Ashton Thomas Securities LLC acquired a new stake in Hubbell in the 3rd quarter worth about $41,000. Quarry LP acquired a new stake in Hubbell in the 2nd quarter worth about $49,000. Finally, Northwest Investment Counselors LLC acquired a new stake in Hubbell in the 3rd quarter worth about $58,000. Institutional investors 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.