Zacks Investment Research upgraded shares of Hubbell Inc (NYSE:HUBB) from a sell rating to a hold rating in a report published on Thursday, July 27th.
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. “
Other research analysts also recently issued reports about the company. JMP Securities initiated coverage on Hubbell in a research report on Monday, June 19th. They set a market perform rating for the company. Wolfe Research initiated coverage on Hubbell in a research report on Tuesday, July 11th. They set a market perform rating for the company. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The stock has an average rating of Hold and a consensus target price of $126.67.
Hubbell (HUBB) opened at 114.16 on Thursday. The firm has a market cap of $6.24 billion, a PE ratio of 21.66 and a beta of 1.01. Hubbell has a 12-month low of $101.15 and a 12-month high of $125.93. The company has a 50-day moving average price of $116.19 and a 200-day moving average price of $117.58.
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. On average, equities analysts predict that Hubbell will post $5.51 earnings per share for the current year.
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The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Thursday, August 31st will be given a dividend of $0.70 per share. The ex-dividend date is Tuesday, August 29th. This represents a $2.80 annualized dividend and a dividend yield of 2.45%. Hubbell’s dividend payout ratio is currently 53.03%.
A number of hedge funds and other institutional investors have recently modified their holdings of HUBB. BlackRock Inc. increased its position in shares of Hubbell by 10,789.9% in the first quarter. BlackRock Inc. now owns 4,224,304 shares of the industrial products company’s stock valued at $507,129,000 after buying an additional 4,185,513 shares during the period. Schroder Investment Management Group increased its position in shares of Hubbell by 2,991.4% in the second quarter. Schroder Investment Management Group now owns 537,900 shares of the industrial products company’s stock valued at $60,400,000 after buying an additional 520,500 shares during the period. Koch Industries Inc. acquired a new position in shares of Hubbell during the second quarter valued at $364,000. Principal Financial Group Inc. increased its position in shares of Hubbell by 65.1% in the second quarter. Principal Financial Group Inc. now owns 588,002 shares of the industrial products company’s stock valued at $66,545,000 after buying an additional 231,936 shares during the period. Finally, Cramer Rosenthal Mcglynn LLC increased its position in shares of Hubbell by 68.9% in the second quarter. Cramer Rosenthal Mcglynn LLC now owns 544,472 shares of the industrial products company’s stock valued at $61,618,000 after buying an additional 222,178 shares during the period. Institutional investors own 86.35% 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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