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

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

HUBB has been the subject of a number of other reports. Barclays boosted their price objective on Hubbell from $400.00 to $402.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Morgan Stanley boosted their price objective on Hubbell from $407.00 to $445.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Stephens reissued an “overweight” rating and set a $450.00 price objective on shares of Hubbell in a report on Friday, August 2nd. StockNews.com raised Hubbell from a “hold” rating to a “buy” rating in a report on Monday. Finally, Sanford C. Bernstein began coverage on Hubbell in a report on Tuesday, November 5th. They issued an “outperform” rating and a $535.00 target price for the company. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $449.11.

Hubbell Stock Down 0.4 %

HUBB stock opened at $458.85 on Tuesday. The stock’s 50 day simple moving average is $445.01 and its 200 day simple moving average is $403.86. Hubbell has a fifty-two week low of $293.91 and a fifty-two week high of $481.35. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.05 and a current ratio of 1.66. The company has a market cap of $24.63 billion, a P/E ratio of 33.06, a price-to-earnings-growth ratio of 1.73 and a beta of 0.90.

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

Hubbell Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be issued a dividend of $1.32 per share. This represents a $5.28 annualized dividend and a yield of 1.15%. This is a positive change from Hubbell’s previous quarterly dividend of $1.22. The ex-dividend date is Friday, November 29th. Hubbell’s dividend payout ratio is 35.16%.

Insider Buying and Selling at Hubbell

In other Hubbell news, insider Mark Eugene Mikes sold 1,144 shares of the stock in a transaction on 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 transaction, the insider now directly owns 2,957 shares of the company’s stock, valued at approximately $1,378,553.40. This represents a 27.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.78% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Hubbell

Several institutional investors and hedge funds have recently bought and sold shares of the company. Prospera Private Wealth LLC purchased a new stake in shares of Hubbell during the third quarter worth $33,000. Ashton Thomas Securities LLC purchased a new stake in shares of Hubbell during the third quarter worth $41,000. Quarry LP purchased a new stake in shares of Hubbell during the second quarter worth $49,000. Northwest Investment Counselors LLC purchased a new stake in shares of Hubbell during the third quarter worth $58,000. Finally, GAMMA Investing LLC lifted its position 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 worth $67,000 after acquiring an additional 72 shares in the last quarter. 88.16% of the stock is owned by 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.