Hubbell Incorporated (NYSE:HUBB) Receives Average Rating of “Hold” from Analysts

Hubbell Incorporated (NYSE:HUBB) has earned a consensus rating of “Hold” from the eight ratings firms that are presently covering the company, Marketbeat reports. Five research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $471.50.

A number of equities research analysts recently weighed in on HUBB shares. Sanford C. Bernstein began coverage on Hubbell in a research report on Tuesday, November 5th. They set an “outperform” rating and a $535.00 price objective on the stock. Wells Fargo & Company lowered their price target on Hubbell from $455.00 to $450.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 7th. Barclays upped their price objective on Hubbell from $402.00 to $475.00 and gave the company an “equal weight” rating in a research note on Thursday, December 5th. Deutsche Bank Aktiengesellschaft lowered Hubbell from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $493.00 to $473.00 in a report on Tuesday, November 26th. Finally, Morgan Stanley increased their target price on shares of Hubbell from $407.00 to $445.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th.

Insider Buying and Selling

In related news, insider Mark Eugene Mikes sold 1,144 shares of the business’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $466.20, for a total value of $533,332.80. Following the completion of the sale, the insider now directly owns 2,957 shares of the company’s stock, valued at $1,378,553.40. The trade was 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 currently owned by corporate insiders.

Institutional Trading of Hubbell

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Mizuho Securities USA LLC raised its stake in shares of Hubbell by 192,421.1% during the third quarter. Mizuho Securities USA LLC now owns 7,980,000 shares of the industrial products company’s stock valued at $3,418,233,000 after purchasing an additional 7,975,855 shares in the last quarter. International Assets Investment Management LLC increased its stake in shares of Hubbell by 42,735.0% in the third quarter. International Assets Investment Management LLC now owns 1,919,865 shares of the industrial products company’s stock worth $8,223,740,000 after purchasing an additional 1,915,383 shares during the period. Impax Asset Management Group plc raised its stake in Hubbell by 30.3% during the 3rd quarter. Impax Asset Management Group plc now owns 1,202,455 shares of the industrial products company’s stock valued at $514,377,000 after purchasing an additional 279,654 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Hubbell by 268.3% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 231,130 shares of the industrial products company’s stock worth $99,005,000 after buying an additional 168,380 shares in the last quarter. Finally, LGT Capital Partners LTD. acquired a new stake in Hubbell during the third quarter worth $39,687,000. 88.16% of the stock is currently owned by hedge funds and other institutional investors.

Hubbell Stock Up 0.4 %

HUBB opened at $455.56 on Friday. The business has a 50 day moving average of $442.63 and a 200-day moving average of $419.77. The company has a current ratio of 1.66, a quick ratio of 1.05 and a debt-to-equity ratio of 0.51. Hubbell has a 1-year low of $326.13 and a 1-year high of $481.35. The stock has a market capitalization of $24.45 billion, a price-to-earnings ratio of 32.82, a P/E/G ratio of 1.57 and a beta of 0.93.

Hubbell (NYSE:HUBB) last released its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $4.49 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 for the quarter, compared to analysts’ expectations of $1.48 billion. During the same period in the prior year, the firm earned $3.95 earnings per share. Hubbell’s revenue was up 4.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Hubbell will post 16.48 earnings per share for the current year.

Hubbell Company Profile

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.