Hubbell (NYSE:HUBB) Rating Lowered to "Hold" at StockNews.com

Hubbell (NYSE:HUBB - Get Free Report) was downgraded by analysts at StockNews.com from a "buy" rating to a "hold" rating in a research note issued on Wednesday.

A number of other brokerages have also commented on HUBB. Wells Fargo & Company decreased their price objective on Hubbell from $455.00 to $450.00 and set an "equal weight" rating for the company in a research report on Tuesday, January 7th. Barclays dropped 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 note on Wednesday. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Hubbell from a "buy" rating to a "hold" rating and decreased their target price for the company from $493.00 to $473.00 in a research note on Tuesday, November 26th. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $462.13.

Hubbell Trading Down 3.0 %

Shares of Hubbell stock traded down $10.32 during trading on Wednesday, hitting $331.68. The stock had a trading volume of 387,277 shares, compared to its average volume of 492,605. Hubbell has a 1 year low of $330.32 and a 1 year high of $481.35. The stock has a 50 day simple moving average of $379.97 and a 200 day simple moving average of $418.68. The company has a quick ratio of 0.98, a current ratio of 1.64 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $17.80 billion, a PE ratio of 23.10, a P/E/G ratio of 1.34 and a beta of 0.94.

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Hubbell (NYSE:HUBB - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $4.10 earnings per share for the quarter, topping the consensus estimate of $4.02 by $0.08. The firm had revenue of $1.33 billion for the quarter, compared to analysts' expectations of $1.41 billion. Hubbell had a net margin of 13.82% and a return on equity of 28.62%. The company's quarterly revenue was down .9% compared to the same quarter last year. During the same period in the previous year, the company posted $3.69 EPS. On average, research analysts expect that Hubbell will post 17.63 EPS for the current fiscal year.

Hubbell announced that its board has initiated a share buyback plan on Wednesday, February 12th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the industrial products company to reacquire up to 2.4% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's leadership believes its stock is undervalued.

Insider Activity

In related news, insider Alyssa R. Flynn sold 1,164 shares of the company's stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $389.06, for a total value of $452,865.84. Following the completion of the transaction, the insider now directly owns 4,327 shares in the company, valued at approximately $1,683,462.62. This represents a 21.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.66% of the stock is owned by company insiders.

Hedge Funds Weigh In On Hubbell

A number of hedge funds have recently made changes to their positions in the business. MassMutual Private Wealth & Trust FSB increased its stake in Hubbell by 12.3% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 228 shares of the industrial products company's stock valued at $96,000 after acquiring an additional 25 shares during the period. JGP Wealth Management LLC raised its holdings in shares of Hubbell by 1.2% in the 4th quarter. JGP Wealth Management LLC now owns 2,110 shares of the industrial products company's stock worth $884,000 after buying an additional 26 shares in the last quarter. Huntington National Bank lifted its position in shares of Hubbell by 3.0% during the 4th quarter. Huntington National Bank now owns 886 shares of the industrial products company's stock worth $371,000 after buying an additional 26 shares during the period. Nissay Asset Management Corp Japan ADV boosted its stake in Hubbell by 0.4% in the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 6,515 shares of the industrial products company's stock valued at $2,757,000 after buying an additional 26 shares in the last quarter. Finally, Sanctuary Advisors LLC grew its position in Hubbell by 0.5% in the fourth quarter. Sanctuary Advisors LLC now owns 5,422 shares of the industrial products company's stock valued at $2,313,000 after acquiring an additional 27 shares during the period. Institutional investors and hedge funds own 88.16% of the company's stock.

Hubbell Company Profile

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.