Hubbell (NYSE:HUBB) Raised to “Strong-Buy” at Wall Street Zen

Hubbell (NYSE:HUBB) was upgraded by Wall Street Zen from a “buy” rating to a “strong-buy” rating in a report released on Saturday.

Several other brokerages have also weighed in on HUBB. Barclays raised their target price on Hubbell from $456.00 to $465.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 7th. Mizuho upped their target price on shares of Hubbell from $480.00 to $500.00 and gave the company an “outperform” rating in a report on Monday, January 5th. Wells Fargo & Company lifted their price target on shares of Hubbell from $500.00 to $515.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 7th. UBS Group reissued a “neutral” rating and issued a $450.00 target price on shares of Hubbell in a research report on Friday, December 12th. Finally, Morgan Stanley set a $515.00 price target on Hubbell in a research report on Wednesday, January 7th. Five equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $497.25.

Hubbell Trading Down 2.0%

HUBB stock opened at $488.11 on Friday. The company has a current ratio of 1.36, a quick ratio of 0.85 and a debt-to-equity ratio of 0.28. Hubbell has a 12-month low of $299.42 and a 12-month high of $501.32. The stock has a market cap of $25.94 billion, a price-to-earnings ratio of 30.28, a PEG ratio of 2.47 and a beta of 1.02. The business’s 50-day moving average is $457.30 and its 200 day moving average is $442.61.

Insider Buying and Selling

In other news, insider Mark Eugene Mikes sold 2,470 shares of the stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $466.50, for a total value of $1,152,255.00. Following the completion of the transaction, the insider owned 4,785 shares in the company, valued at $2,232,202.50. This trade represents a 34.05% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director John F. Malloy bought 435 shares of the stock in a transaction on Monday, November 17th. The shares were bought at an average price of $429.24 per share, for a total transaction of $186,719.40. Following the completion of the transaction, the director directly owned 19,085 shares of the company’s stock, valued at $8,192,045.40. This trade represents a 2.33% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 0.76% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Jones Financial Companies Lllp boosted its position in Hubbell by 171.9% during the first quarter. Jones Financial Companies Lllp now owns 2,401 shares of the industrial products company’s stock worth $795,000 after acquiring an additional 1,518 shares during the last quarter. Empowered Funds LLC lifted its stake in shares of Hubbell by 18.9% during the 1st quarter. Empowered Funds LLC now owns 1,233 shares of the industrial products company’s stock worth $408,000 after purchasing an additional 196 shares during the period. Geneos Wealth Management Inc. boosted its holdings in shares of Hubbell by 271.9% during the first quarter. Geneos Wealth Management Inc. now owns 212 shares of the industrial products company’s stock worth $70,000 after purchasing an additional 155 shares during the last quarter. Acadian Asset Management LLC acquired a new stake in shares of Hubbell during the first quarter worth $599,000. Finally, Janney Montgomery Scott LLC grew its position in shares of Hubbell by 9.7% in the second quarter. Janney Montgomery Scott LLC now owns 31,317 shares of the industrial products company’s stock valued at $12,790,000 after purchasing an additional 2,772 shares during the period. 88.16% of the stock is owned by hedge funds and other institutional investors.

Hubbell Company Profile

Hubbell Incorporated (NYSE: HUBB) is an industrial manufacturer and distributor of electrical and electronic products serving a range of end markets including commercial and residential construction, industrial, and utility customers. Founded in 1888 by Harvey Hubbell, the company has a long history in electrical innovation and product development and is headquartered in Connecticut. Hubbell designs, manufactures and sells components and systems that enable the distribution and control of electrical power and provide lighting solutions for indoor and outdoor environments.

The company’s offerings span a broad portfolio of products used by contractors, utilities, original equipment manufacturers and facility owners.