Hubbell Inc (HUBB) Lifted to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Hubbell Inc (NYSE:HUBB) from a sell rating to a hold rating in a research note published on Friday.

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. “

Separately, Morgan Stanley raised shares of Hubbell from an equal weight rating to an overweight rating and raised their price target for the stock from $113.00 to $131.00 in a research report on Monday, December 19th. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus price target of $109.20.

Shares of Hubbell (NYSE:HUBB) traded up 0.54% during trading on Friday, reaching $118.10. 65,603 shares of the company’s stock were exchanged. The stock has a market capitalization of $6.54 billion, a PE ratio of 23.02 and a beta of 0.97. The company’s 50-day moving average is $115.78 and its 200 day moving average is $108.26. Hubbell has a 52 week low of $83.16 and a 52 week high of $119.09.

Hubbell (NYSE:HUBB) last released its quarterly earnings results on Tuesday, October 25th. The company reported $1.63 earnings per share for the quarter, topping analysts’ consensus estimates of $1.50 by $0.13. Hubbell had a net margin of 8.33% and a return on equity of 19.40%. The business earned $907 million during the quarter, compared to the consensus estimate of $910.78 million. The company’s revenue was up 3.5% compared to the same quarter last year. On average, analysts forecast that Hubbell will post $5.31 earnings per share for the current year.

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The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 15th. Shareholders of record on Wednesday, November 30th were issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 2.38%. The ex-dividend date was Monday, November 28th. This is an increase from Hubbell’s previous quarterly dividend of $0.63. Hubbell’s payout ratio is currently 54.37%.

A number of institutional investors have recently added to or reduced their stakes in the company. Capstone Asset Management Co. increased its position in Hubbell by 4.2% in the second quarter. Capstone Asset Management Co. now owns 5,277 shares of the company’s stock worth $557,000 after buying an additional 211 shares in the last quarter. LS Investment Advisors LLC increased its position in Hubbell by 67.7% in the second quarter. LS Investment Advisors LLC now owns 3,216 shares of the company’s stock worth $339,000 after buying an additional 1,298 shares in the last quarter. Oakbrook Investments LLC increased its position in Hubbell by 6.9% in the second quarter. Oakbrook Investments LLC now owns 5,450 shares of the company’s stock worth $575,000 after buying an additional 350 shares in the last quarter. Rehmann Capital Advisory Group acquired a new position in Hubbell during the second quarter worth approximately $620,000. Finally, American Century Companies Inc. increased its position in Hubbell by 9.3% in the second quarter. American Century Companies Inc. now owns 1,081,037 shares of the company’s stock worth $114,017,000 after buying an additional 92,077 shares in the last quarter. 82.69% of the stock is owned by hedge funds and other institutional investors.

Hubbell Company Profile

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 operates through two segments: Electrical and Power. The Electrical segment consists of electrical systems products and lighting products.

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