Hubbell (NYSE:HUBB) Raised to “Overweight” at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Hubbell (NYSE:HUBB) from a neutral rating to an overweight rating in a report issued on Friday morning, MarketBeat Ratings reports. JPMorgan Chase & Co. currently has $335.00 price objective on the industrial products company’s stock, up from their prior price objective of $333.00.

HUBB has been the topic of a number of other research reports. StockNews.com assumed coverage on shares of Hubbell in a report on Thursday, October 5th. They issued a buy rating on the stock. Wolfe Research raised shares of Hubbell from an underperform rating to a peer perform rating in a report on Friday, August 11th. Seaport Res Ptn reissued a buy rating on shares of Hubbell in a report on Wednesday, November 8th. Mizuho raised their target price on shares of Hubbell from $300.00 to $370.00 in a report on Wednesday, July 26th. Finally, Stephens reissued an overweight rating and issued a $375.00 target price on shares of Hubbell in a report on Wednesday, November 1st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Hubbell has an average rating of Hold and a consensus price target of $299.43.

Hubbell Stock Down 0.0 %

NYSE:HUBB opened at $300.82 on Friday. The company has a market capitalization of $16.13 billion, a price-to-earnings ratio of 22.86, a price-to-earnings-growth ratio of 1.91 and a beta of 0.93. Hubbell has a one year low of $219.77 and a one year high of $340.06. The stock has a 50-day simple moving average of $297.89 and a 200 day simple moving average of $305.64. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.43 and a current ratio of 2.16.

Hubbell (NYSE:HUBB) last posted its quarterly earnings results on Tuesday, October 31st. The industrial products company reported $3.95 EPS for the quarter, missing analysts’ consensus estimates of $4.07 by ($0.12). The firm had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.40 billion. Hubbell had a return on equity of 30.09% and a net margin of 13.56%. The firm’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same quarter last year, the business posted $3.08 earnings per share. Sell-side analysts predict that Hubbell will post 15.19 EPS for the current fiscal year.

Hubbell Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Thursday, November 30th will be given a $1.22 dividend. This is a positive change from Hubbell’s previous quarterly dividend of $1.12. The ex-dividend date of this dividend is Wednesday, November 29th. This represents a $4.88 annualized dividend and a yield of 1.62%. Hubbell’s payout ratio is 37.08%.

Insiders Place Their Bets

In other Hubbell news, VP Nero Jonathan M. Del sold 1,902 shares of Hubbell stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $285.54, for a total transaction of $543,097.08. Following the transaction, the vice president now directly owns 3,646 shares in the company, valued at approximately $1,041,078.84. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.66% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Hubbell

A number of institutional investors have recently modified their holdings of HUBB. Global Retirement Partners LLC lifted its position in Hubbell by 122.7% during the 1st quarter. Global Retirement Partners LLC now owns 98 shares of the industrial products company’s stock worth $27,000 after acquiring an additional 54 shares during the last quarter. V Square Quantitative Management LLC bought a new position in shares of Hubbell during the 2nd quarter worth about $28,000. First Manhattan Co. bought a new position in shares of Hubbell during the 1st quarter worth about $28,000. IFP Advisors Inc increased its holdings in shares of Hubbell by 120.6% during the 2nd quarter. IFP Advisors Inc now owns 289 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 158 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S increased its holdings in shares of Hubbell by 55.2% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 149 shares of the industrial products company’s stock worth $36,000 after purchasing an additional 53 shares during the period. Institutional investors and hedge funds own 85.97% 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.