Hubbell (NYSE:HUBB) Cut to “Hold” at Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft downgraded shares of Hubbell (NYSE:HUBB) from a buy rating to a hold rating in a research note published on Tuesday, MarketBeat reports. Deutsche Bank Aktiengesellschaft currently has $473.00 price target on the industrial products company’s stock, down from their previous price target of $493.00.

A number of other equities research analysts also recently issued reports on HUBB. JPMorgan Chase & Co. downgraded Hubbell from an “overweight” rating to a “neutral” rating and increased their price objective for the stock from $385.00 to $454.00 in a research report on Thursday, October 10th. Morgan Stanley increased their target price on Hubbell from $407.00 to $445.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Sanford C. Bernstein started coverage on Hubbell in a research note on Tuesday, November 5th. They issued an “outperform” rating and a $535.00 target price on the stock. Stephens reissued an “overweight” rating and issued a $450.00 target price on shares of Hubbell in a research note on Friday, August 2nd. Finally, Mizuho increased their target price on Hubbell from $450.00 to $490.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Hubbell has an average rating of “Moderate Buy” and a consensus target price of $449.11.

Hubbell Trading Down 0.4 %

Shares of HUBB stock opened at $458.85 on Tuesday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.05 and a current ratio of 1.66. Hubbell has a 52-week low of $293.91 and a 52-week high of $481.35. The company has a market capitalization of $24.63 billion, a PE ratio of 33.06, a price-to-earnings-growth ratio of 1.73 and a beta of 0.90. The business’s fifty day moving average is $445.01 and its 200 day moving average is $403.86.

Hubbell (NYSE:HUBB) last issued its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $4.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.47 by $0.02. Hubbell had a return on equity of 28.81% and a net margin of 13.33%. The company had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter last year, the business posted $3.95 earnings per share. The firm’s revenue was up 4.9% compared to the same quarter last year. On average, equities research analysts anticipate that Hubbell will post 16.47 EPS for the current fiscal year.

Hubbell Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be paid a $1.32 dividend. The ex-dividend date is Friday, November 29th. This is a boost from Hubbell’s previous quarterly dividend of $1.22. This represents a $5.28 annualized dividend and a dividend yield of 1.15%. Hubbell’s dividend payout ratio (DPR) is presently 35.16%.

Insiders Place Their Bets

In other Hubbell news, insider Mark Eugene Mikes sold 1,144 shares of the firm’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $466.20, for a total value of $533,332.80. Following the completion of the sale, the insider now directly owns 2,957 shares in the company, valued at $1,378,553.40. This trade represents a 27.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.78% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Hubbell

Large investors have recently made changes to their positions in the business. Prospera Private Wealth LLC purchased a new position in shares of Hubbell during the third quarter valued at approximately $33,000. Ashton Thomas Securities LLC purchased a new position in shares of Hubbell during the third quarter valued at approximately $41,000. Quarry LP purchased a new position in shares of Hubbell during the second quarter valued at approximately $49,000. Northwest Investment Counselors LLC purchased a new position in shares of Hubbell during the third quarter valued at approximately $58,000. Finally, GAMMA Investing LLC lifted its holdings in shares of Hubbell by 84.7% during the third quarter. GAMMA Investing LLC now owns 157 shares of the industrial products company’s stock valued at $67,000 after purchasing an additional 72 shares during the last quarter. 88.16% of the stock is currently owned by hedge funds and other institutional investors.

Hubbell Company Profile

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.