Hubbell (NYSE:HUBB) Rating Lowered to Neutral at JPMorgan Chase & Co.

Hubbell (NYSE:HUBB) was downgraded by equities research analysts at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a research report issued to clients and investors on Thursday, Marketbeat Ratings reports. They currently have a $454.00 price objective on the industrial products company’s stock, up from their prior price objective of $385.00. JPMorgan Chase & Co.‘s price target would suggest a potential downside of 0.57% from the stock’s current price.

Other equities research analysts also recently issued research reports about the stock. Wells Fargo & Company increased their target price on shares of Hubbell from $400.00 to $445.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. Barclays increased their price objective on Hubbell from $368.00 to $400.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 2nd. Morgan Stanley assumed coverage on Hubbell in a report on Friday, September 6th. They issued an “equal weight” rating and a $407.00 target price on the stock. Deutsche Bank Aktiengesellschaft raised Hubbell from a “hold” rating to a “buy” rating and increased their price target for the stock from $431.00 to $441.00 in a report on Friday, September 6th. Finally, Stephens reissued an “overweight” rating and issued a $450.00 price objective on shares of Hubbell in a research note on Friday, August 2nd. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $423.13.

Hubbell Trading Up 3.0 %

HUBB opened at $456.60 on Thursday. The company has a quick ratio of 1.13, a current ratio of 1.81 and a debt-to-equity ratio of 0.62. Hubbell has a 52 week low of $248.37 and a 52 week high of $457.00. The business’s 50 day moving average is $398.01 and its two-hundred day moving average is $391.93. The firm has a market cap of $24.51 billion, a price-to-earnings ratio of 33.75, a price-to-earnings-growth ratio of 1.67 and a beta of 0.90.

Hubbell (NYSE:HUBB) last announced its earnings results on Tuesday, July 30th. The industrial products company reported $4.37 EPS for the quarter, beating analysts’ consensus estimates of $4.24 by $0.13. Hubbell had a net margin of 13.14% and a return on equity of 28.98%. The business had revenue of $1.45 billion for the quarter, compared to analysts’ expectations of $1.48 billion. During the same period in the previous year, the company posted $4.07 EPS. The company’s quarterly revenue was up 6.3% on a year-over-year basis. On average, research analysts predict that Hubbell will post 16.41 EPS for the current year.

Insiders Place Their Bets

In other news, Director Carlos M. Cardoso sold 450 shares of Hubbell stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $364.54, for a total transaction of $164,043.00. Following the completion of the sale, the director now directly owns 1,670 shares in the company, valued at approximately $608,781.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Carlos M. Cardoso sold 450 shares of Hubbell stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $364.54, for a total transaction of $164,043.00. Following the completion of the transaction, the director now owns 1,670 shares of the company’s stock, valued at $608,781.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Gerben Bakker sold 15,677 shares of the business’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $374.34, for a total transaction of $5,868,528.18. Following the completion of the sale, the chief executive officer now owns 66,415 shares in the company, valued at $24,861,791.10. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Hubbell

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in Hubbell by 15.9% in the 4th quarter. Vanguard Group Inc. now owns 6,696,582 shares of the industrial products company’s stock valued at $2,202,707,000 after purchasing an additional 918,808 shares in the last quarter. Impax Asset Management Group plc lifted its stake in shares of Hubbell by 53.8% during the second quarter. Impax Asset Management Group plc now owns 922,801 shares of the industrial products company’s stock valued at $336,984,000 after buying an additional 322,728 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Hubbell by 16.7% during the second quarter. Bank of New York Mellon Corp now owns 2,035,596 shares of the industrial products company’s stock valued at $743,970,000 after buying an additional 291,850 shares during the period. Price T Rowe Associates Inc. MD grew its stake in Hubbell by 16.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,980,456 shares of the industrial products company’s stock worth $821,989,000 after acquiring an additional 286,134 shares during the period. Finally, Goldman Sachs Group Inc. raised its holdings in Hubbell by 52.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 397,321 shares of the industrial products company’s stock valued at $130,691,000 after acquiring an additional 137,179 shares during the last quarter. Hedge funds and other institutional investors own 88.16% of the company’s stock.

About Hubbell

Hubbell Incorporated, together with its subsidiaries, designs, manufactures, and sells electrical and utility solutions in the United States and internationally. It operates through two segments, Electrical Solutions and Utility Solutions. The Electrical Solution segment offers standard and special application wiring device products, rough-in electrical products, connector and grounding products, lighting fixtures, 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.