ValuEngine upgraded shares of Hubbell (NYSE:HUBB) from a sell rating to a hold rating in a research report released on Monday, February 4th.
Other equities analysts have also recently issued research reports about the stock. Morgan Stanley set a $131.00 target price on shares of Hubbell and gave the company a buy rating in a research note on Wednesday, October 24th. Wolfe Research raised shares of Hubbell to a buy rating and set a $131.00 target price on the stock in a research note on Wednesday, October 24th. They noted that the move was a valuation call. Zacks Investment Research raised shares of Hubbell from a sell rating to a hold rating in a research note on Tuesday, January 22nd. CIBC reissued a market perform rating on shares of Hubbell in a research note on Tuesday, January 8th. Finally, Oppenheimer reaffirmed a market perform rating on shares of Hubbell in a research note on Tuesday, January 8th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company presently has a consensus rating of Buy and an average price target of $131.17.
Shares of HUBB stock traded up $0.05 on Monday, hitting $118.10. The stock had a trading volume of 243,271 shares, compared to its average volume of 364,287. The company has a current ratio of 1.96, a quick ratio of 1.18 and a debt-to-equity ratio of 0.97. Hubbell has a 52-week low of $91.88 and a 52-week high of $137.67. The company has a market capitalization of $6.56 billion, a PE ratio of 16.20, a price-to-earnings-growth ratio of 1.49 and a beta of 1.41.
Hubbell (NYSE:HUBB) last released its quarterly earnings data on Tuesday, February 5th. The industrial products company reported $1.72 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.69 by $0.03. The business had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.13 billion. Hubbell had a net margin of 8.04% and a return on equity of 23.08%. The company’s revenue for the quarter was up 24.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.54 EPS. Equities research analysts predict that Hubbell will post 8.09 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 15th. Shareholders of record on Thursday, February 28th will be issued a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 2.85%. The ex-dividend date is Wednesday, February 27th. Hubbell’s payout ratio is 46.09%.
Several institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc raised its position in Hubbell by 0.7% during the third quarter. Vanguard Group Inc now owns 5,362,450 shares of the industrial products company’s stock valued at $716,262,000 after acquiring an additional 39,278 shares in the last quarter. Legal & General Group Plc raised its position in Hubbell by 2.3% during the third quarter. Legal & General Group Plc now owns 75,365 shares of the industrial products company’s stock valued at $10,066,000 after acquiring an additional 1,670 shares in the last quarter. Inlet Private Wealth LLC bought a new position in Hubbell during the fourth quarter valued at approximately $467,000. Piedmont Investment Advisors Inc. raised its position in shares of Hubbell by 38,242.9% in the third quarter. Piedmont Investment Advisors Inc. now owns 2,684 shares of the industrial products company’s stock valued at $359,000 after purchasing an additional 2,677 shares during the period. Finally, Franklin Resources Inc. bought a new position in shares of Hubbell in the third quarter valued at approximately $235,000. Institutional investors own 85.90% of the company’s stock.
Hubbell Company Profile
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.
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