Hubbell (HUBB) – Analysts’ Weekly Ratings Changes

Share on StockTwits

Hubbell (NYSE: HUBB) recently received a number of ratings updates from brokerages and research firms:

  • 10/24/2018 – Hubbell was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Hubbell Incorporated is engaged in the design, manufacture and sale of electrical and electronic products to commercial, industrial, utility and telecommunications markets. The Company’s products include plugs, receptacles, connectors, lighting fixtures, high voltage test and measurement equipment and voice and data signal processing components. Hubbell Incorporated is based in SHELTON, United States. “
  • 10/24/2018 – Hubbell was given a new $131.00 price target on by analysts at Morgan Stanley. They now have a “buy” rating on the stock.
  • 10/24/2018 – Hubbell was upgraded by analysts at Wolfe Research to a “buy” rating. They now have a $131.00 price target on the stock. They noted that the move was a valuation call. They noted that the move was a valuation call.
  • 10/23/2018 – Hubbell was downgraded by analysts at ValuEngine from a “hold” rating to a “sell” rating.
  • 10/4/2018 – Hubbell was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $147.00 price target on the stock. According to Zacks, “Hubbell Incorporated is engaged in the design, manufacture and sale of electrical and electronic products to commercial, industrial, utility and telecommunications markets. The Company’s products include plugs, receptacles, connectors, lighting fixtures, high voltage test and measurement equipment and voice and data signal processing components. Hubbell Incorporated is based in SHELTON, United States. “
  • 10/3/2018 – Hubbell was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Hubbell Incorporated is engaged in the design, manufacture and sale of electrical and electronic products to commercial, industrial, utility and telecommunications markets. The Company’s products include plugs, receptacles, connectors, lighting fixtures, high voltage test and measurement equipment and voice and data signal processing components. Hubbell Incorporated is based in SHELTON, United States. “

Shares of HUBB stock traded up $0.81 during trading hours on Wednesday, hitting $110.54. The company’s stock had a trading volume of 10,307 shares, compared to its average volume of 813,673. The company has a market capitalization of $5.91 billion, a P/E ratio of 18.64, a price-to-earnings-growth ratio of 1.48 and a beta of 1.34. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.88 and a quick ratio of 1.16. Hubbell Incorporated has a 12-month low of $97.02 and a 12-month high of $149.03.

Hubbell (NYSE:HUBB) last announced its quarterly earnings results on Tuesday, October 23rd. The industrial products company reported $2.22 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.11 by $0.11. Hubbell had a net margin of 6.88% and a return on equity of 23.08%. The firm had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same period in the prior year, the firm posted $1.65 earnings per share. The firm’s quarterly revenue was up 24.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Hubbell Incorporated will post 7.27 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 14th. Investors of record on Friday, November 30th will be issued a dividend of $0.84 per share. The ex-dividend date of this dividend is Thursday, November 29th. This is an increase from Hubbell’s previous quarterly dividend of $0.77. This represents a $3.36 dividend on an annualized basis and a yield of 3.04%. Hubbell’s dividend payout ratio is 51.94%.

In other news, Director Neal J. Keating purchased 1,000 shares of the stock in a transaction that occurred on Monday, October 29th. The shares were purchased at an average cost of $101.55 per share, with a total value of $101,550.00. Following the completion of the acquisition, the director now owns 6,971 shares of the company’s stock, valued at approximately $707,905.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John F. Malloy purchased 994 shares of the stock in a transaction that occurred on Friday, October 26th. The shares were purchased at an average cost of $100.82 per share, for a total transaction of $100,215.08. Following the completion of the acquisition, the director now directly owns 13,020 shares of the company’s stock, valued at approximately $1,312,676.40. The disclosure for this purchase can be found here. Corporate insiders own 0.69% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. boosted its holdings in Hubbell by 7.1% during the second quarter. BlackRock Inc. now owns 4,951,945 shares of the industrial products company’s stock worth $523,619,000 after buying an additional 329,485 shares in the last quarter. American Century Companies Inc. raised its position in Hubbell by 46.5% during the second quarter. American Century Companies Inc. now owns 2,792,582 shares of the industrial products company’s stock worth $295,288,000 after acquiring an additional 885,909 shares during the period. FMR LLC raised its position in Hubbell by 25.5% during the second quarter. FMR LLC now owns 1,662,452 shares of the industrial products company’s stock worth $175,788,000 after acquiring an additional 337,915 shares during the period. Victory Capital Management Inc. raised its position in Hubbell by 6.2% during the third quarter. Victory Capital Management Inc. now owns 1,122,227 shares of the industrial products company’s stock worth $149,895,000 after acquiring an additional 65,241 shares during the period. Finally, Bank of New York Mellon Corp raised its position in Hubbell by 0.4% during the second quarter. Bank of New York Mellon Corp now owns 784,889 shares of the industrial products company’s stock worth $82,995,000 after acquiring an additional 3,184 shares during the period. 86.68% of the stock is currently owned by hedge funds and other institutional investors.

Hubbell Incorporated designs, manufactures, and sells electrical and electronic products in the United States and internationally. It operates through two segments, Electrical and Power. The Electrical segment offers standard and special application wiring device products, rough-in electrical products, connector and grounding products, lighting fixtures and controls, 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 for the natural gas distribution market.

Recommended Story: Diversification in Your Portfolio

Receive News & Ratings for Hubbell Incorporated Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hubbell Incorporated and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply