Hubbell (NYSE:HUBB) Downgraded to “Hold” Rating by Deutsche Bank Aktiengesellschaft

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

A number of other equities analysts also recently commented on HUBB. Wells Fargo & Company upped their target price on shares of Hubbell from $445.00 to $455.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Barclays upped their target price on Hubbell from $400.00 to $402.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Sanford C. Bernstein started coverage on Hubbell in a research report on Tuesday, November 5th. They set an “outperform” rating and a $535.00 price target for the company. JPMorgan Chase & Co. lowered shares of 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 note on Thursday, October 10th. Finally, Morgan Stanley boosted their target price on shares of Hubbell from $407.00 to $445.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $449.11.

Hubbell Stock Up 0.2 %

Shares of HUBB stock opened at $459.89 on Tuesday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.66 and a quick ratio of 1.05. Hubbell has a one year low of $295.60 and a one year high of $481.35. The company’s fifty day moving average price is $445.68 and its 200-day moving average price is $404.26. The company has a market capitalization of $24.68 billion, a price-to-earnings ratio of 33.13, a PEG ratio of 1.71 and a beta of 0.90.

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 the consensus estimate of $4.47 by $0.02. Hubbell had a return on equity of 28.81% and a net margin of 13.33%. The business had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.48 billion. During the same period in the prior year, the firm earned $3.95 EPS. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. Sell-side analysts expect that Hubbell will post 16.47 EPS for the current fiscal year.

Hubbell Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be issued a $1.32 dividend. 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%. The ex-dividend date is Friday, November 29th. Hubbell’s dividend payout ratio (DPR) is currently 35.16%.

Insiders Place Their Bets

In related news, insider Mark Eugene Mikes sold 1,144 shares of Hubbell stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $466.20, for a total transaction of $533,332.80. Following the completion of the sale, the insider now owns 2,957 shares in the company, valued at approximately $1,378,553.40. This trade represents a 27.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.66% of the company’s stock.

Hedge Funds Weigh In On Hubbell

Several institutional investors and hedge funds have recently modified their holdings of the company. Groupama Asset Managment boosted its stake in Hubbell by 17.0% in the 3rd quarter. Groupama Asset Managment now owns 6,955 shares of the industrial products company’s stock worth $30,000 after buying an additional 1,010 shares during the last quarter. Prospera Private Wealth LLC acquired a new stake in shares of Hubbell in the third quarter worth approximately $33,000. Ashton Thomas Securities LLC purchased a new stake in Hubbell in the third quarter valued at approximately $41,000. Quarry LP acquired a new position in Hubbell during the second quarter worth approximately $49,000. Finally, Northwest Investment Counselors LLC purchased a new position in Hubbell during the third quarter worth approximately $58,000. Hedge funds and other institutional investors own 88.16% of the company’s stock.

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.