Hubbell Incorporated (NYSE:HUBB – Get Free Report) has received a consensus rating of “Hold” from the eight research firms that are covering the firm, Marketbeat reports. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $471.50.
A number of brokerages have issued reports on HUBB. Deutsche Bank Aktiengesellschaft downgraded shares of Hubbell from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $493.00 to $473.00 in a research report on Tuesday, November 26th. Barclays boosted their price target on shares of Hubbell from $402.00 to $475.00 and gave the company an “equal weight” rating in a research report on Thursday, December 5th. Sanford C. Bernstein began coverage on Hubbell in a research note on Tuesday, November 5th. They issued an “outperform” rating and a $535.00 target price for the company. StockNews.com cut Hubbell from a “buy” rating to a “hold” rating in a research report on Tuesday. Finally, JPMorgan Chase & Co. cut Hubbell from an “overweight” rating to a “neutral” rating and upped their price target for the company from $385.00 to $454.00 in a research report on Thursday, October 10th.
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Hubbell Stock Performance
Hubbell (NYSE:HUBB – Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $4.49 earnings per share for the quarter, beating analysts’ consensus estimates of $4.47 by $0.02. The business had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.48 billion. Hubbell had a return on equity of 28.81% and a net margin of 13.33%. Hubbell’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period in the prior year, the business posted $3.95 earnings per share. Sell-side analysts expect that Hubbell will post 16.48 EPS for the current year.
Insider Activity
In related news, insider Mark Eugene Mikes sold 1,144 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $466.20, for a total value of $533,332.80. Following the transaction, the insider now owns 2,957 shares in the company, valued at approximately $1,378,553.40. This represents a 27.90 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.66% of the company’s stock.
Institutional Trading of Hubbell
A number of hedge funds have recently added to or reduced their stakes in the company. Stonebridge Financial Group LLC acquired a new stake in shares of Hubbell in the fourth quarter worth approximately $30,000. Prospera Private Wealth LLC purchased a new stake in shares of Hubbell in the 3rd quarter valued at approximately $33,000. Versant Capital Management Inc lifted its stake in Hubbell by 64.6% during the fourth quarter. Versant Capital Management Inc now owns 79 shares of the industrial products company’s stock worth $33,000 after purchasing an additional 31 shares in the last quarter. Ashton Thomas Securities LLC acquired a new position in Hubbell in the 3rd quarter valued at about $41,000. Finally, Quarry LP acquired a new stake in Hubbell during the 2nd quarter worth approximately $49,000. 88.16% of the stock is owned by hedge funds and other institutional investors.
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.
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