Hubbell (NYSE:HUBB) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Hubbell (NYSE:HUBB) from a buy rating to a strong-buy rating in a research note issued to investors on Saturday morning.

Several other research analysts have also recently weighed in on the stock. UBS Group restated a “neutral” rating and issued a $450.00 price objective on shares of Hubbell in a research report on Friday, December 12th. JPMorgan Chase & Co. increased their price target on shares of Hubbell from $417.00 to $458.00 and gave the stock a “neutral” rating in a report on Wednesday, October 15th. Morgan Stanley set a $515.00 price objective on shares of Hubbell in a research report on Wednesday, January 7th. Wells Fargo & Company lifted their price objective on shares of Hubbell from $500.00 to $515.00 and gave the stock an “overweight” rating in a report on Wednesday, January 7th. Finally, Barclays increased their target price on Hubbell from $456.00 to $465.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 7th. Five analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, Hubbell presently has a consensus rating of “Moderate Buy” and an average target price of $497.25.

Hubbell Stock Up 1.7%

HUBB opened at $496.25 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.36 and a quick ratio of 0.85. Hubbell has a one year low of $299.42 and a one year high of $501.32. The firm has a market capitalization of $26.38 billion, a P/E ratio of 30.78, a price-to-earnings-growth ratio of 2.47 and a beta of 1.02. The company has a fifty day moving average price of $458.74 and a 200-day moving average price of $443.03.

Hubbell Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Friday, February 27th will be paid a $1.42 dividend. This represents a $5.68 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Friday, February 27th. Hubbell’s payout ratio is 35.24%.

Insider Activity at Hubbell

In other news, insider Mark Eugene Mikes sold 2,470 shares of the stock in a transaction that occurred on Wednesday, November 5th. The stock was 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. This represents a 34.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director John F. Malloy bought 435 shares of the business’s stock in a transaction dated Monday, November 17th. The stock was purchased at an average price of $429.24 per share, for a total transaction of $186,719.40. Following the acquisition, the director directly owned 19,085 shares of the company’s stock, valued at approximately $8,192,045.40. The trade was a 2.33% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 0.76% of the stock is owned by company insiders.

Institutional Investors Weigh In On Hubbell

A number of large investors have recently added to or reduced their stakes in HUBB. Thurston Springer Miller Herd & Titak Inc. raised its stake in shares of Hubbell by 147.8% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 57 shares of the industrial products company’s stock valued at $25,000 after acquiring an additional 34 shares during the last quarter. NBT Bank N A NY purchased a new position in Hubbell during the 4th quarter valued at about $27,000. Hantz Financial Services Inc. raised its position in Hubbell by 141.4% during the 3rd quarter. Hantz Financial Services Inc. now owns 70 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 41 shares during the last quarter. Baillie Gifford & Co. raised its position in Hubbell by 62.8% during the 4th quarter. Baillie Gifford & Co. now owns 70 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 27 shares during the last quarter. Finally, Harbor Investment Advisory LLC lifted its holdings in Hubbell by 630.0% in the 4th quarter. Harbor Investment Advisory LLC now owns 73 shares of the industrial products company’s stock worth $32,000 after buying an additional 63 shares during the period. Institutional investors own 88.16% of the company’s stock.

Hubbell Company Profile

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.