Hubbell (NYSE:HUBB) Upgraded at Wall Street Zen

Hubbell (NYSE:HUBB) was upgraded by equities researchers at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a report issued on Saturday.

Several other brokerages also recently issued reports on HUBB. Morgan Stanley set a $515.00 target price on shares of Hubbell in a research note on Wednesday, January 7th. Weiss Ratings restated a “buy (b-)” rating on shares of Hubbell in a research note on Thursday, January 22nd. Evercore ISI started coverage on Hubbell in a research note on Monday, December 15th. They set an “outperform” rating and a $575.00 target price for the company. Mizuho boosted their target price on Hubbell from $480.00 to $500.00 and gave the stock an “outperform” rating in a report on Monday, January 5th. Finally, Barclays raised their price target on Hubbell from $456.00 to $465.00 and gave the company an “equal weight” rating in a report on Wednesday, January 7th. Five research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $497.25.

Hubbell Price Performance

Shares of HUBB opened at $488.11 on Friday. The company has a current ratio of 1.36, a quick ratio of 0.85 and a debt-to-equity ratio of 0.28. The company’s fifty day simple moving average is $457.30 and its 200 day simple moving average is $442.25. Hubbell has a 1-year low of $299.42 and a 1-year high of $501.32. The company has a market cap of $25.94 billion, a price-to-earnings ratio of 30.28, a PEG ratio of 2.52 and a beta of 1.02.

Hubbell (NYSE:HUBB) last announced its quarterly earnings results on Tuesday, October 28th. The industrial products company reported $5.17 EPS for the quarter, beating analysts’ consensus estimates of $4.98 by $0.19. The firm had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.54 billion. Hubbell had a net margin of 15.24% and a return on equity of 27.68%. The company’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same quarter last year, the company posted $4.49 earnings per share. On average, research analysts forecast that Hubbell will post 17.63 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Hubbell news, Director John F. Malloy bought 435 shares of the stock in a transaction dated Monday, November 17th. The shares were bought at an average cost of $429.24 per share, with a total value of $186,719.40. Following the completion of the acquisition, the director owned 19,085 shares of the company’s stock, valued at $8,192,045.40. This trade represents a 2.33% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Mark Eugene Mikes sold 2,470 shares of Hubbell stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $466.50, for a total transaction of $1,152,255.00. Following the completion of the sale, the insider owned 4,785 shares of the company’s stock, valued at approximately $2,232,202.50. The trade was a 34.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.66% of the stock is owned by insiders.

Hedge Funds Weigh In On Hubbell

A number of hedge funds have recently added to or reduced their stakes in HUBB. McKinley Carter Wealth Services Inc. raised its stake in Hubbell by 16.7% in the second quarter. McKinley Carter Wealth Services Inc. now owns 19,829 shares of the industrial products company’s stock valued at $8,098,000 after purchasing an additional 2,843 shares in the last quarter. Belpointe Asset Management LLC bought a new position in Hubbell in the 2nd quarter valued at about $320,000. Venturi Wealth Management LLC bought a new position in Hubbell in the 2nd quarter valued at about $490,000. Nordea Investment Management AB raised its position in shares of Hubbell by 15.7% in the 3rd quarter. Nordea Investment Management AB now owns 203,399 shares of the industrial products company’s stock valued at $87,333,000 after buying an additional 27,576 shares in the last quarter. Finally, Walter Public Investments Inc. lifted its holdings in shares of Hubbell by 33.3% during the 3rd quarter. Walter Public Investments Inc. now owns 35,086 shares of the industrial products company’s stock worth $15,098,000 after acquiring an additional 8,774 shares during the period. Institutional investors own 88.16% of the company’s stock.

About Hubbell

Hubbell Incorporated (NYSE: HUBB) is an industrial manufacturer and distributor of electrical and electronic products serving a range of end markets including commercial and residential construction, industrial, and utility customers. Founded in 1888 by Harvey Hubbell, the company has a long history in electrical innovation and product development and is headquartered in Connecticut. Hubbell designs, manufactures and sells components and systems that enable the distribution and control of electrical power and provide lighting solutions for indoor and outdoor environments.

The company’s offerings span a broad portfolio of products used by contractors, utilities, original equipment manufacturers and facility owners.