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

Hubbell (NYSE:HUBB) was downgraded by research analysts at Deutsche Bank Aktiengesellschaft from a “buy” rating to a “hold” rating in a report issued on Tuesday, MarketBeat reports. They presently have a $473.00 price objective on the industrial products company’s stock, down from their previous price objective of $493.00. Deutsche Bank Aktiengesellschaft’s price target indicates a potential upside of 3.09% from the company’s previous close.

Other equities research analysts have also issued research reports about the company. Barclays lifted 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 initiated coverage on Hubbell in a research note on Tuesday, November 5th. They issued an “outperform” rating and a $535.00 price target for the company. StockNews.com upgraded Hubbell from a “hold” rating to a “buy” rating in a research note on Monday. JPMorgan Chase & Co. downgraded Hubbell from an “overweight” rating to a “neutral” rating and raised their price target for the company from $385.00 to $454.00 in a research note on Thursday, October 10th. Finally, Wells Fargo & Company lifted their target price on Hubbell from $445.00 to $455.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $449.11.

Hubbell Price Performance

Shares of HUBB opened at $458.81 on Tuesday. The company has a current ratio of 1.66, a quick ratio of 1.05 and a debt-to-equity ratio of 0.51. Hubbell has a 1 year low of $293.91 and a 1 year high of $481.35. The stock has a market cap of $24.62 billion, a P/E ratio of 33.06, a price-to-earnings-growth ratio of 1.73 and a beta of 0.90. The stock’s 50-day moving average price is $444.28 and its two-hundred day moving average price is $403.47.

Hubbell (NYSE:HUBB) last issued its earnings results 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 firm had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.48 billion. During the same quarter last year, the business earned $3.95 earnings per share. The company’s revenue was up 4.9% compared to the same quarter last year. On average, equities analysts predict that Hubbell will post 16.47 earnings per share for the current year.

Insider Activity at Hubbell

In other Hubbell news, insider Mark Eugene Mikes sold 1,144 shares of Hubbell stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $466.20, for a total value 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 $1,378,553.40. The trade was a 27.90 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.78% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Hubbell

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Lazard Asset Management LLC grew its position in shares of Hubbell by 85.3% in the 1st quarter. Lazard Asset Management LLC now owns 1,781 shares of the industrial products company’s stock valued at $739,000 after buying an additional 820 shares during the last quarter. Janus Henderson Group PLC boosted its position in shares of Hubbell by 6.5% during the 1st quarter. Janus Henderson Group PLC now owns 6,586 shares of the industrial products company’s stock valued at $2,731,000 after purchasing an additional 403 shares in the last quarter. Tidal Investments LLC boosted its position in shares of Hubbell by 499.3% during the 1st quarter. Tidal Investments LLC now owns 4,992 shares of the industrial products company’s stock valued at $2,072,000 after purchasing an additional 4,159 shares in the last quarter. Plato Investment Management Ltd acquired a new position in Hubbell during the 1st quarter worth approximately $552,000. Finally, Wahed Invest LLC raised its stake in Hubbell by 14.8% during the 1st quarter. Wahed Invest LLC now owns 1,049 shares of the industrial products company’s stock worth $435,000 after buying an additional 135 shares during the period. 88.16% of the stock is owned by institutional investors and hedge funds.

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.