StockNews.com downgraded shares of Hubbell (NYSE:HUBB – Get Rating) from a strong-buy rating to a buy rating in a research note published on Friday.
A number of other research firms have also recently commented on HUBB. Wells Fargo & Company dropped their target price on Hubbell from $225.00 to $221.00 and set an equal weight rating on the stock in a research report on Thursday, April 13th. Mizuho raised their target price on shares of Hubbell from $252.00 to $300.00 in a research note on Wednesday, April 26th. Morgan Stanley upped their price target on Hubbell from $226.00 to $238.00 and gave the stock an equal weight rating in a research note on Wednesday, February 1st. Finally, JPMorgan Chase & Co. raised Hubbell from an underweight rating to a neutral rating and upped their price objective for the stock from $200.00 to $205.00 in a research report on Wednesday, February 1st. Two analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. According to MarketBeat, Hubbell has an average rating of Hold and an average target price of $237.33.
Hubbell Stock Up 1.0 %
Hubbell stock opened at $272.09 on Friday. Hubbell has a twelve month low of $170.21 and a twelve month high of $282.19. The business has a fifty day moving average of $243.02 and a two-hundred day moving average of $241.41. The company has a quick ratio of 1.25, a current ratio of 1.99 and a debt-to-equity ratio of 0.58. The firm has a market cap of $14.58 billion, a P/E ratio of 25.99, a P/E/G ratio of 1.95 and a beta of 0.99.
Hubbell (NYSE:HUBB – Get Rating) last released its earnings results on Tuesday, April 25th. The industrial products company reported $3.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.46 by $1.15. Hubbell had a return on equity of 27.72% and a net margin of 11.15%. The firm had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.25 billion. During the same period in the prior year, the firm earned $2.12 EPS. The firm’s revenue was up 11.2% on a year-over-year basis. On average, analysts forecast that Hubbell will post 13.81 earnings per share for the current fiscal year.
Hubbell Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, June 15th. Stockholders of record on Wednesday, May 31st will be given a $1.12 dividend. This represents a $4.48 annualized dividend and a dividend yield of 1.65%. The ex-dividend date of this dividend is Tuesday, May 30th. Hubbell’s payout ratio is currently 42.79%.
Institutional Investors Weigh In On Hubbell
A number of institutional investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in shares of Hubbell by 1.0% in the 3rd quarter. Vanguard Group Inc. now owns 5,542,232 shares of the industrial products company’s stock worth $1,235,918,000 after acquiring an additional 57,469 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in Hubbell by 69.4% during the third quarter. Price T Rowe Associates Inc. MD now owns 4,870,982 shares of the industrial products company’s stock valued at $1,086,230,000 after purchasing an additional 1,995,155 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Hubbell by 13.2% during the fourth quarter. JPMorgan Chase & Co. now owns 2,582,249 shares of the industrial products company’s stock valued at $606,003,000 after purchasing an additional 301,775 shares during the last quarter. Wellington Management Group LLP lifted its stake in Hubbell by 133.8% during the first quarter. Wellington Management Group LLP now owns 1,543,481 shares of the industrial products company’s stock valued at $283,646,000 after purchasing an additional 883,272 shares during the last quarter. Finally, State Street Corp lifted its stake in Hubbell by 4.1% during the first quarter. State Street Corp now owns 1,491,325 shares of the industrial products company’s stock valued at $274,061,000 after purchasing an additional 59,128 shares during the last quarter. Institutional investors own 89.71% of the company’s stock.
Hubbell Company Profile
Hubbell, Inc engages in the designing, manufacturing, and sale of electrical and electronic products for non-residential and residential construction, industrial, and utility applications. It operates through the Electrical Solutions and Utility Solutions segments. The Electrical Solutions segment manufactures and sells wiring and electrical, lighting fixtures, and controls for indoor and outdoor applications as well as specialty lighting and communications products.
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