Hubbell (NYSE:HUBB) Cut to Hold at StockNews.com

Hubbell (NYSE:HUBB) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday.

Several other research firms have also recently issued reports on HUBB. Wells Fargo & Company dropped their price target on Hubbell from $455.00 to $450.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 7th. Barclays decreased their target price on Hubbell from $422.00 to $400.00 and set an “equal weight” rating on the stock in a report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft downgraded Hubbell from a “buy” rating to a “hold” rating and reduced their target price for the company from $493.00 to $473.00 in a report on Tuesday, November 26th. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Hubbell currently has an average rating of “Hold” and a consensus target price of $462.13.

Hubbell Price Performance

Shares of Hubbell stock traded down $7.08 during trading on Wednesday, hitting $346.54. The stock had a trading volume of 714,453 shares, compared to its average volume of 477,370. The business has a fifty day moving average of $383.92 and a two-hundred day moving average of $419.27. Hubbell has a fifty-two week low of $330.32 and a fifty-two week high of $481.35. The firm has a market cap of $18.60 billion, a P/E ratio of 24.13, a PEG ratio of 1.34 and a beta of 0.94. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.64 and a quick ratio of 0.98.

Hubbell (NYSE:HUBB) last posted its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $4.10 earnings per share for the quarter, beating the consensus estimate of $4.02 by $0.08. Hubbell had a net margin of 13.82% and a return on equity of 28.62%. The company had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.41 billion. During the same quarter last year, the firm posted $3.69 EPS. The business’s revenue for the quarter was down .9% on a year-over-year basis. On average, sell-side analysts expect that Hubbell will post 17.63 earnings per share for the current fiscal year.

Hubbell declared that its board has authorized a share buyback program on Wednesday, February 12th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the industrial products company to purchase up to 2.4% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

Insider Activity at Hubbell

In other news, insider Alyssa R. Flynn sold 1,164 shares of the firm’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $389.06, for a total value of $452,865.84. Following the sale, the insider now directly owns 4,327 shares of the company’s stock, valued at approximately $1,683,462.62. This trade represents a 21.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.66% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of HUBB. Cerity Partners LLC raised its holdings in shares of Hubbell by 54.1% in the third quarter. Cerity Partners LLC now owns 9,326 shares of the industrial products company’s stock valued at $3,995,000 after buying an additional 3,273 shares during the last quarter. Kingsview Wealth Management LLC lifted its stake in Hubbell by 1.0% in the 3rd quarter. Kingsview Wealth Management LLC now owns 3,288 shares of the industrial products company’s stock valued at $1,408,000 after acquiring an additional 31 shares in the last quarter. Swedbank AB grew its holdings in shares of Hubbell by 5.1% in the 3rd quarter. Swedbank AB now owns 43,308 shares of the industrial products company’s stock valued at $18,551,000 after acquiring an additional 2,100 shares in the last quarter. DRW Securities LLC bought a new stake in Hubbell during the third quarter worth $206,000. Finally, Brooklyn Investment Group acquired a new position in shares of Hubbell during the 3rd quarter worth approximately $133,000. 88.16% of the stock is owned by 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.