Hubbell (HUBB) Rating Lowered to Sell at Zacks Investment Research
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 brokerages also recently commented on HUBB. ValuEngine upgraded shares of Hubbell from a “sell” rating to a “hold” rating in a research report on Monday, February 4th. JMP Securities set a $146.00 price objective on shares of Hubbell and gave the company a “buy” rating in a research report on Tuesday, April 2nd. Oppenheimer restated a “market perform” rating on shares of Hubbell in a research report on Tuesday, January 8th. Finally, CIBC restated a “market perform” rating on shares of Hubbell in a research report on Tuesday, January 8th. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $133.29.
Hubbell (NYSE:HUBB) last announced its quarterly earnings data on Tuesday, February 5th. The industrial products company reported $1.72 EPS for the quarter, beating the Zacks’ consensus estimate of $1.69 by $0.03. The firm had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.13 billion. Hubbell had a net margin of 8.04% and a return on equity of 23.08%. The firm’s revenue was up 24.7% compared to the same quarter last year. During the same quarter last year, the firm earned $1.54 earnings per share. On average, sell-side analysts anticipate that Hubbell will post 8.07 earnings per share for the current fiscal year.
In other news, VP An-Ping Hsieh sold 6,315 shares of Hubbell stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $122.32, for a total transaction of $772,450.80. Following the completion of the sale, the vice president now directly owns 24,376 shares in the company, valued at approximately $2,981,672.32. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 2.20% of the stock is currently owned by company insiders.
Several hedge funds have recently bought and sold shares of HUBB. Quantamental Technologies LLC acquired a new stake in shares of Hubbell during the 4th quarter valued at approximately $30,000. Meeder Asset Management Inc. acquired a new position in shares of Hubbell during the 4th quarter worth approximately $35,000. Essex Investment Management Co. LLC acquired a new position in shares of Hubbell during the 4th quarter worth approximately $35,000. Enlightenment Research LLC acquired a new position in shares of Hubbell during the 4th quarter worth approximately $40,000. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Hubbell during the 4th quarter worth approximately $65,000. Institutional investors own 86.56% of the company’s stock.
Hubbell Incorporated designs, manufactures, and sells electrical and electronic products in the United States and internationally. It operates through two segments, Electrical and Power. The Electrical segment offers standard and special application wiring device products, rough-in electrical products, connector and grounding products, lighting fixtures and controls, 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 for the natural gas distribution market.
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