Hubbell (NYSE:HUBB) Upgraded to “Buy” at StockNews.com

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

A number of other equities analysts have also recently commented on HUBB. Barclays boosted their price target on Hubbell from $402.00 to $475.00 and gave the stock an “equal weight” rating in a report on Thursday, December 5th. Wells Fargo & Company reduced their price target on Hubbell from $455.00 to $450.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 7th. Morgan Stanley upped their price target on Hubbell from $407.00 to $445.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Sanford C. Bernstein initiated coverage on Hubbell in a research report on Tuesday, November 5th. They set an “outperform” rating and a $535.00 target price on the stock. Finally, Deutsche Bank Aktiengesellschaft downgraded Hubbell from a “buy” rating to a “hold” rating and dropped their price target for the stock from $493.00 to $473.00 in a research note on Tuesday, November 26th. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Hubbell presently has a consensus rating of “Hold” and an average target price of $471.50.

Hubbell Stock Performance

HUBB opened at $389.93 on Monday. The business has a fifty day simple moving average of $425.25 and a 200 day simple moving average of $423.73. The company has a market capitalization of $20.93 billion, a PE ratio of 27.15, a price-to-earnings-growth ratio of 1.36 and a beta of 0.92. Hubbell has a 1 year low of $346.13 and a 1 year high of $481.35. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.64 and a quick ratio of 1.05.

Hubbell (NYSE:HUBB) last announced its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $4.10 earnings per share for the quarter, beating the consensus estimate of $4.02 by $0.08. The firm had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.41 billion. Hubbell had a return on equity of 28.62% and a net margin of 13.82%. The company’s quarterly revenue was down .9% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.69 EPS. Research analysts expect that Hubbell will post 17.63 EPS for the current year.

Hubbell Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be issued a $1.32 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $5.28 annualized dividend and a dividend yield of 1.35%. Hubbell’s dividend payout ratio is currently 36.77%.

Hubbell declared that its board has approved a stock buyback program on Wednesday, February 12th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the industrial products company to buy up to 2.4% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Creative Financial Designs Inc. ADV grew its stake in shares of Hubbell by 85.7% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 65 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 30 shares during the last quarter. Groupama Asset Managment boosted its position in Hubbell by 17.0% during the 3rd quarter. Groupama Asset Managment now owns 6,955 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 1,010 shares in the last quarter. Stonebridge Financial Group LLC bought a new stake in Hubbell during the 4th quarter valued at approximately $30,000. Prospera Private Wealth LLC bought a new stake in Hubbell during the 3rd quarter valued at approximately $33,000. Finally, Versant Capital Management Inc boosted its position in Hubbell by 64.6% during the 4th quarter. Versant Capital Management Inc now owns 79 shares of the industrial products company’s stock valued at $33,000 after acquiring an additional 31 shares in the last quarter. Hedge funds and other 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.