Hubbell’s (HUBB) “Overweight” Rating Reiterated at Morgan Stanley
Morgan Stanley restated their overweight rating on shares of Hubbell Inc (NYSE:HUBB) in a research note released on Monday morning. The brokerage currently has a $132.00 price objective on the industrial products company’s stock, up from their prior price objective of $130.00.
HUBB has been the topic of several other reports. Wolfe Research initiated coverage on shares of Hubbell in a research note on Tuesday, July 11th. They set a market perform rating on the stock. Zacks Investment Research lowered shares of Hubbell from a hold rating to a sell rating in a research note on Wednesday, July 12th. JMP Securities initiated coverage on shares of Hubbell in a research note on Monday, June 19th. They set a market perform rating on the stock. Finally, BidaskClub upgraded shares of Hubbell from a sell rating to a hold rating in a research note on Wednesday, September 27th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average target price of $124.00.
Hubbell (HUBB) opened at 118.23 on Monday. The firm has a market capitalization of $6.47 billion, a P/E ratio of 22.43 and a beta of 1.04. The company has a 50 day moving average price of $113.11 and a 200 day moving average price of $115.50. Hubbell has a 52-week low of $101.15 and a 52-week high of $125.93.
Hubbell (NYSE:HUBB) last released its quarterly earnings data on Tuesday, July 25th. The industrial products company reported $1.51 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.40 by $0.11. The business had revenue of $948.30 million during the quarter, compared to analysts’ expectations of $937.35 million. Hubbell had a net margin of 8.23% and a return on equity of 19.77%. The company’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same period in the previous year, the company earned $1.53 EPS. On average, equities analysts forecast that Hubbell will post $5.49 EPS for the current fiscal year.
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The business also recently declared a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Thursday, August 31st were paid a dividend of $0.70 per share. The ex-dividend date was Tuesday, August 29th. This represents a $2.80 annualized dividend and a yield of 2.37%. Hubbell’s dividend payout ratio is currently 53.03%.
Large investors have recently made changes to their positions in the stock. Meeder Asset Management Inc. raised its stake in 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 acquiring an additional 935 shares in the last quarter. Acrospire Investment Management LLC raised its stake in 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 acquiring an additional 500 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new stake in Hubbell during the 2nd quarter worth $182,000. Global X Management Co. LLC raised its stake in 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 acquiring an additional 1,210 shares in the last quarter. Finally, Oxford Asset Management acquired a new stake in Hubbell during the 1st quarter worth $215,000. Hedge funds and other institutional investors own 85.15% of the company’s stock.
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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