Hubbell (NYSE:HUBB) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Tuesday, January 2nd.
According to Zacks, “Hubbell Incorporated is engaged in the design, manufacture and sale of electrical and electronic products to commercial, industrial, utility and telecommunications markets. The Company’s products include plugs, receptacles, connectors, lighting fixtures, high voltage test and measurement equipment and voice and data signal processing components. Hubbell Incorporated is based in SHELTON, United States. “
Several other analysts also recently weighed in on the stock. BidaskClub upgraded shares of Hubbell from a “hold” rating to a “buy” rating in a research report on Friday, October 27th. Wells Fargo & Co reiterated a “buy” rating and issued a $143.00 price objective (up from $136.00) on shares of Hubbell in a research report on Wednesday, December 20th. JPMorgan Chase & Co. reiterated a “hold” rating on shares of Hubbell in a research report on Thursday, December 28th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $132.00 price objective (up from $130.00) on shares of Hubbell in a research report on Monday, October 2nd. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $134.00.
Hubbell (NYSE HUBB) opened at $138.34 on Tuesday. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.28 and a quick ratio of 1.43. Hubbell has a 52-week low of $109.32 and a 52-week high of $141.67. The stock has a market cap of $7,400.36, a PE ratio of 23.57, a PEG ratio of 2.18 and a beta of 1.09.
Hubbell (NYSE:HUBB) last posted its quarterly earnings results on Tuesday, October 24th. The industrial products company reported $1.65 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.50 by $0.15. Hubbell had a net margin of 7.96% and a return on equity of 19.69%. The company had revenue of $950.50 million for the quarter, compared to the consensus estimate of $960.28 million. During the same period last year, the firm posted $1.63 EPS. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. research analysts anticipate that Hubbell will post 5.45 earnings per share for the current year.
Hubbell announced that its Board of Directors has authorized a stock buyback plan on Friday, October 20th that permits the company to repurchase $400.00 million in outstanding shares. This repurchase authorization permits the industrial products company to purchase shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.
In other Hubbell news, insider Gerben Bakker sold 590 shares of the business’s stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $125.34, for a total transaction of $73,950.60. Following the sale, the insider now directly owns 13,249 shares in the company, valued at approximately $1,660,629.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.28% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in shares of Hubbell by 2.0% during the 2nd quarter. Vanguard Group Inc. now owns 4,545,258 shares of the industrial products company’s stock worth $514,386,000 after buying an additional 89,275 shares in the last quarter. BlackRock Inc. raised its position in shares of Hubbell by 1.4% during the 2nd quarter. BlackRock Inc. now owns 4,282,003 shares of the industrial products company’s stock worth $484,595,000 after buying an additional 57,699 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Hubbell by 1.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,027,573 shares of the industrial products company’s stock worth $234,915,000 after buying an additional 25,710 shares in the last quarter. American Century Companies Inc. raised its position in shares of Hubbell by 3.8% during the 3rd quarter. American Century Companies Inc. now owns 1,770,634 shares of the industrial products company’s stock worth $205,429,000 after buying an additional 64,779 shares in the last quarter. Finally, State Street Corp raised its position in shares of Hubbell by 2.7% during the 2nd quarter. State Street Corp now owns 1,438,263 shares of the industrial products company’s stock worth $162,771,000 after buying an additional 37,792 shares in the last quarter. Institutional investors own 85.10% of the company’s stock.
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Hubbell Incorporated is engaged in the design, manufacture and sale of electrical and electronic products for a range of non-residential and residential construction, industrial and utility applications. The Company’s segments include Electrical and the Power. The Electrical segment consists of businesses that sell stock and custom products, including standard and special application wiring device products, rough-in electrical products, lighting fixtures and controls, components and assemblies for the natural gas distribution market, as well as other electrical equipment.
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