Hubbell (NYSE:HUBB) Upgraded to Buy by Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft upgraded shares of Hubbell (NYSE:HUBB) from a hold rating to a buy rating in a research report report published on Friday, MarketBeat.com reports. They currently have $441.00 price objective on the industrial products company’s stock, up from their previous price objective of $431.00.

Several other research analysts also recently commented on HUBB. Stephens restated an overweight rating and issued a $450.00 target price on shares of Hubbell in a research note on Friday, August 2nd. Barclays decreased their target price on shares of Hubbell from $384.00 to $368.00 and set an equal weight rating on the stock in a report on Wednesday, July 31st. Wells Fargo & Company increased their target price on shares of Hubbell from $397.00 to $400.00 and gave the stock an equal weight rating in a research note on Wednesday, July 31st. Finally, JPMorgan Chase & Co. boosted their price target on shares of Hubbell from $383.00 to $385.00 and gave the company an overweight rating in a research report on Wednesday, July 31st. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average target price of $404.88.

Hubbell Price Performance

Shares of HUBB opened at $378.12 on Friday. The firm has a market cap of $20.30 billion, a PE ratio of 28.20, a price-to-earnings-growth ratio of 1.40 and a beta of 0.90. Hubbell has a 52-week low of $248.37 and a 52-week high of $429.61. The business’s 50 day moving average price is $375.57 and its two-hundred day moving average price is $386.79. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.13 and a current ratio of 1.81.

Hubbell (NYSE:HUBB) last issued 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 return on equity of 28.98% and a net margin of 13.14%. The business had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.48 billion. During the same period in the previous year, the company posted $4.07 EPS. The firm’s revenue was up 6.3% compared to the same quarter last year. On average, equities analysts anticipate that Hubbell will post 16.41 EPS for the current year.

Hubbell Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, August 30th will be given a dividend of $1.22 per share. This represents a $4.88 dividend on an annualized basis and a dividend yield of 1.29%. The ex-dividend date is Friday, August 30th. Hubbell’s dividend payout ratio (DPR) is presently 36.39%.

Insider Buying and Selling

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

Institutional Trading of Hubbell

Institutional investors and hedge funds have recently bought and sold shares of the stock. Nordea Investment Management AB lifted its holdings in shares of Hubbell by 4.1% in the 1st quarter. Nordea Investment Management AB now owns 160,085 shares of the industrial products company’s stock valued at $66,571,000 after purchasing an additional 6,275 shares during the last quarter. Clearbridge Investments LLC acquired a new position in shares of Hubbell during the 4th quarter valued at about $1,258,000. Focus Financial Network Inc. ADV acquired a new position in shares of Hubbell in the 4th quarter valued at about $636,000. TD Asset Management Inc raised its position in Hubbell by 343.8% in the fourth quarter. TD Asset Management Inc now owns 43,785 shares of the industrial products company’s stock valued at $14,402,000 after purchasing an additional 33,920 shares during the period. Finally, IFG Advisory LLC acquired a new position in Hubbell in the 2nd quarter worth $475,000. 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.