Hubbell (NYSE:HUBB) Upgraded at StockNews.com

StockNews.com upgraded shares of Hubbell (NYSE:HUBB - Free Report) from a hold rating to a buy rating in a research note issued to investors on Thursday.

HUBB has been the subject of a number of other research reports. Barclays dropped their price target on Hubbell from $422.00 to $400.00 and set an "equal weight" rating for the company in a research note on Wednesday, March 26th. Wells Fargo & Company dropped their target price on shares of Hubbell from $455.00 to $450.00 and set an "equal weight" rating for the company in a research report on Tuesday, January 7th. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $462.13.

Hubbell Trading Down 1.8 %

HUBB traded down $5.66 during trading on Thursday, hitting $315.69. 1,202,137 shares of the stock traded hands, compared to its average volume of 499,847. The firm has a 50-day moving average of $370.54 and a 200 day moving average of $416.68. Hubbell has a 12-month low of $299.36 and a 12-month high of $481.35. The firm has a market capitalization of $16.94 billion, a P/E ratio of 21.98, a price-to-earnings-growth ratio of 1.34 and a beta of 0.95. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.64 and a quick ratio of 0.98.

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

Hubbell declared that its Board of Directors has initiated a share buyback plan on Wednesday, February 12th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the industrial products company to reacquire up to 2.4% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's management believes its shares are undervalued.

Hubbell Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, February 28th were paid a dividend of $1.32 per share. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date of this dividend was Friday, February 28th. Hubbell's dividend payout ratio is 36.77%.

Insiders Place Their Bets

In related news, insider Alyssa R. Flynn sold 1,164 shares of the business's stock in a transaction that occurred on Thursday, February 20th. The shares were 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 $1,683,462.62. The trade was a 21.20 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.66% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of HUBB. Creative Financial Designs Inc. ADV grew its stake in shares of Hubbell by 85.7% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 65 shares of the industrial products company's stock worth $27,000 after acquiring an additional 30 shares during the period. Groupama Asset Managment grew its position in Hubbell by 17.0% in the 3rd quarter. Groupama Asset Managment now owns 6,955 shares of the industrial products company's stock worth $30,000 after purchasing an additional 1,010 shares during the period. Stonebridge Financial Group LLC purchased a new stake in Hubbell during the 4th quarter valued at $30,000. Versant Capital Management Inc lifted its holdings in shares of Hubbell by 64.6% during the 4th quarter. Versant Capital Management Inc now owns 79 shares of the industrial products company's stock valued at $33,000 after buying an additional 31 shares during the period. Finally, Johnson Financial Group Inc. boosted its stake in shares of Hubbell by 166.7% in the 4th quarter. Johnson Financial Group Inc. now owns 104 shares of the industrial products company's stock worth $44,000 after buying an additional 65 shares during the last quarter. 88.16% of the stock is owned by institutional investors.

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.