Hubbell Inc (HUBB) Downgraded to “Hold” at Zacks Investment Research
Zacks Investment Research lowered shares of Hubbell Inc (NYSE:HUBB) from a buy rating to a hold rating in a research note released on Wednesday.
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. “
A number of other research analysts have also recently weighed in on HUBB. BidaskClub raised shares of Hubbell from a strong sell rating to a sell rating in a research note on Friday, September 1st. JMP Securities assumed coverage on shares of Hubbell in a research note on Monday, June 19th. They set a market perform rating for the company. Wolfe Research assumed coverage on shares of Hubbell in a research note on Tuesday, July 11th. They set a market perform rating for the company. Finally, Morgan Stanley reissued an overweight rating and set a $132.00 price objective (up from $130.00) on shares of Hubbell in a research note on Monday. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus price target of $124.00.
Shares of Hubbell (HUBB) traded down 0.19% during trading on Wednesday, hitting $118.00. The company had a trading volume of 96,462 shares. The firm has a market capitalization of $6.45 billion, a P/E ratio of 22.39 and a beta of 1.04. Hubbell has a 52-week low of $101.15 and a 52-week high of $125.93. The stock’s 50-day moving average is $113.11 and its 200 day moving average is $115.50.
Hubbell (NYSE:HUBB) last posted its quarterly earnings results on Tuesday, July 25th. The industrial products company reported $1.51 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.40 by $0.11. Hubbell had a net margin of 8.23% and a return on equity of 19.77%. The company had revenue of $948.30 million during the quarter, compared to the consensus estimate of $937.35 million. During the same period last year, the firm earned $1.53 EPS. The company’s revenue for the quarter was up 4.3% on a year-over-year basis. Equities research analysts predict that Hubbell will post $5.49 earnings per share for the current fiscal year.
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The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Thursday, August 31st were paid a dividend of $0.70 per share. The ex-dividend date of this dividend was Tuesday, August 29th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.37%. Hubbell’s dividend payout ratio (DPR) is 53.03%.
Several institutional investors and hedge funds have recently modified their holdings of HUBB. Meeder Asset Management Inc. increased its stake in shares of Hubbell by 2,397.4% during the 2nd quarter. Meeder Asset Management Inc. now owns 974 shares of the industrial products company’s stock worth $110,000 after purchasing an additional 935 shares in the last quarter. Acrospire Investment Management LLC increased its stake in shares of Hubbell by 103.1% during the 2nd quarter. Acrospire Investment Management LLC now owns 985 shares of the industrial products company’s stock worth $111,000 after purchasing an additional 500 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new position in shares of Hubbell during the 2nd quarter worth approximately $182,000. Global X Management Co. LLC increased its stake in shares of Hubbell by 220.0% during the 2nd quarter. Global X Management Co. LLC now owns 1,760 shares of the industrial products company’s stock worth $199,000 after purchasing an additional 1,210 shares in the last quarter. Finally, Oxford Asset Management purchased a new position in shares of Hubbell during the 1st quarter worth approximately $215,000. 85.15% of the stock is owned by institutional investors and hedge funds.
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’s segments include Electrical and the Power. The Electrical segment consists of businesses that sell stock and custom products, including standard and special application wiring device products, rough-in electrical products, lighting fixtures and controls, components and assemblies for the natural gas distribution market, as well as other electrical equipment.
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