Hubbell (NYSE:HUBB) Rating Increased to Buy at StockNews.com

Hubbell (NYSE:HUBB) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Thursday.

HUBB has been the topic of several other reports. Barclays cut their price objective on shares of Hubbell from $422.00 to $400.00 and set an “equal weight” rating on the stock in a research report on Wednesday, March 26th. Wells Fargo & Company cut their price target 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. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $462.13.

Hubbell Price Performance

Shares of NYSE HUBB opened at $315.69 on Thursday. The company has a 50 day simple moving average of $367.74 and a two-hundred day simple moving average of $416.03. Hubbell has a fifty-two week low of $299.43 and a fifty-two week high of $481.35. The company has a market capitalization of $16.94 billion, a price-to-earnings ratio of 21.98, a P/E/G ratio of 1.34 and a beta of 0.95. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.98 and a current ratio of 1.64.

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

Hubbell announced that its Board of Directors has authorized a share repurchase plan on Wednesday, February 12th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the industrial products company to purchase up to 2.4% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its shares are undervalued.

Insider Activity

In other Hubbell news, insider Alyssa R. Flynn sold 1,164 shares of the business’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 $1,683,462.62. The trade was a 21.20 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.66% of the company’s stock.

Hedge Funds Weigh In On Hubbell

Institutional investors and hedge funds have recently made changes to their positions in the business. Versant Capital Management Inc raised its position in Hubbell by 597.5% in the first quarter. Versant Capital Management Inc now owns 551 shares of the industrial products company’s stock worth $182,000 after acquiring an additional 472 shares during the period. Boston Common Asset Management LLC bought a new position in Hubbell in the 1st quarter worth $3,264,000. Insight Wealth Strategies LLC lifted its position in Hubbell by 16.7% during the first quarter. Insight Wealth Strategies LLC now owns 11,901 shares of the industrial products company’s stock valued at $3,938,000 after purchasing an additional 1,699 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its holdings in Hubbell by 49.6% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 341 shares of the industrial products company’s stock valued at $113,000 after purchasing an additional 113 shares during the period. Finally, California State Teachers Retirement System increased its position in Hubbell by 1.2% in the fourth quarter. California State Teachers Retirement System now owns 81,619 shares of the industrial products company’s stock worth $34,189,000 after buying an additional 980 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.