Hubbell (NYSE:HUBB) Downgraded to “Hold” Rating by StockNews.com

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

HUBB has been the topic of a number of other reports. Barclays boosted their price target on shares of Hubbell from $402.00 to $475.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 5th. Wells Fargo & Company lowered their target price on Hubbell from $455.00 to $450.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 7th. JPMorgan Chase & Co. cut Hubbell from an “overweight” rating to a “neutral” rating and increased their price target for the company from $385.00 to $454.00 in a report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft lowered Hubbell from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $493.00 to $473.00 in a research note on Tuesday, November 26th. Finally, Morgan Stanley raised their target price on Hubbell from $407.00 to $445.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $471.50.

Hubbell Stock Performance

NYSE HUBB opened at $412.85 on Tuesday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.66 and a quick ratio of 1.05. Hubbell has a 1-year low of $326.13 and a 1-year high of $481.35. The company has a market cap of $22.16 billion, a PE ratio of 29.74, a price-to-earnings-growth ratio of 1.57 and a beta of 0.93. The stock’s 50 day simple moving average is $441.23 and its 200-day simple moving average is $420.90.

Hubbell (NYSE:HUBB) last announced its earnings results on Tuesday, October 29th. The industrial products company reported $4.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.47 by $0.02. Hubbell had a net margin of 13.33% and a return on equity of 28.81%. The company had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.48 billion. During the same quarter in the previous year, the company posted $3.95 EPS. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. As a group, equities research analysts anticipate that Hubbell will post 16.48 EPS for the current fiscal year.

Insider Transactions at Hubbell

In other news, insider Mark Eugene Mikes sold 1,144 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $466.20, for a total value of $533,332.80. Following the transaction, the insider now directly owns 2,957 shares in the company, valued at approximately $1,378,553.40. This represents a 27.90 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.66% of the company’s stock.

Institutional Trading of Hubbell

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Stephens Inc. AR raised its holdings in shares of Hubbell by 14.0% in the 4th quarter. Stephens Inc. AR now owns 1,895 shares of the industrial products company’s stock valued at $794,000 after buying an additional 232 shares during the period. Entropy Technologies LP purchased a new stake in Hubbell during the fourth quarter worth about $2,132,000. Triasima Portfolio Management inc. lifted its position in shares of Hubbell by 2.5% during the fourth quarter. Triasima Portfolio Management inc. now owns 13,771 shares of the industrial products company’s stock worth $5,769,000 after purchasing an additional 335 shares in the last quarter. Golden State Wealth Management LLC acquired a new stake in shares of Hubbell during the fourth quarter worth about $69,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in shares of Hubbell by 2.6% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 5,979 shares of the industrial products company’s stock valued at $2,505,000 after purchasing an additional 154 shares during the period. 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.