Hubbell (NYSE:HUBB) Cut to Hold at StockNews.com

StockNews.com lowered shares of Hubbell (NYSE:HUBB) from a buy rating to a hold rating in a research report report published on Wednesday morning.

Other equities analysts also recently issued reports about the stock. Deutsche Bank Aktiengesellschaft cut Hubbell from a “buy” rating to a “hold” rating and cut their price target for the stock from $493.00 to $473.00 in a report on Tuesday, November 26th. Wells Fargo & Company reduced their target price on shares of Hubbell from $455.00 to $450.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 7th. Finally, Barclays lowered their price target on shares of Hubbell from $422.00 to $400.00 and set an “equal weight” rating for the company in a report on Wednesday. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $462.13.

Hubbell Trading Down 3.0 %

NYSE HUBB opened at $331.68 on Wednesday. The firm’s fifty day moving average is $379.97 and its two-hundred day moving average is $418.41. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.98 and a current ratio of 1.64. The firm has a market cap of $17.80 billion, a PE ratio of 23.10, a P/E/G ratio of 1.34 and a beta of 0.94. Hubbell has a one year low of $330.32 and a one year high of $481.35.

Hubbell (NYSE:HUBB) last issued its earnings results on Tuesday, February 4th. The industrial products company reported $4.10 EPS for the quarter, topping the consensus estimate of $4.02 by $0.08. The company had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.41 billion. Hubbell had a net margin of 13.82% and a return on equity of 28.62%. The business’s revenue was down .9% on a year-over-year basis. During the same period in the previous year, the firm earned $3.69 EPS. Analysts expect that Hubbell will post 17.63 earnings per share for the current year.

Hubbell Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, February 28th were issued a $1.32 dividend. This represents a $5.28 dividend on an annualized basis and a yield of 1.59%. The ex-dividend date of this dividend was Friday, February 28th. Hubbell’s payout ratio is 36.77%.

Hubbell announced that its board has authorized a stock repurchase program on Wednesday, February 12th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the industrial products company to repurchase up to 2.4% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Insider Activity

In other Hubbell news, insider Alyssa R. Flynn sold 1,164 shares of the firm’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $389.06, for a total transaction of $452,865.84. Following the completion of the sale, the insider now directly owns 4,327 shares in the company, valued at approximately $1,683,462.62. This trade represents a 21.20 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.66% of the stock is owned by company insiders.

Hedge Funds Weigh In On Hubbell

Institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in Hubbell by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 6,634,705 shares of the industrial products company’s stock worth $2,779,212,000 after purchasing an additional 65,033 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Hubbell by 4.8% in the fourth quarter. Bank of New York Mellon Corp now owns 2,826,327 shares of the industrial products company’s stock valued at $1,183,920,000 after buying an additional 129,490 shares during the period. State Street Corp grew its position in Hubbell by 1.1% during the third quarter. State Street Corp now owns 2,092,215 shares of the industrial products company’s stock worth $896,200,000 after buying an additional 22,507 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in Hubbell by 6.6% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,510,430 shares of the industrial products company’s stock valued at $632,704,000 after acquiring an additional 92,954 shares during the period. Finally, Invesco Ltd. raised its stake in shares of Hubbell by 1.9% in the fourth quarter. Invesco Ltd. now owns 1,490,479 shares of the industrial products company’s stock valued at $624,347,000 after purchasing an additional 27,914 shares in the last quarter. 88.16% of the stock is currently owned by institutional investors.

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.