Hubbell (NYSE:HUBB) Upgraded at Deutsche Bank Aktiengesellschaft

Hubbell (NYSE:HUBB) was upgraded by research analysts at Deutsche Bank Aktiengesellschaft from a “hold” rating to a “buy” rating in a note issued to investors on Friday, Briefing.com reports. The brokerage presently has a $441.00 target price on the industrial products company’s stock, up from their previous target price of $431.00. Deutsche Bank Aktiengesellschaft’s target price suggests a potential upside of 19.05% from the company’s current price.

HUBB has been the subject of a number of other research reports. Stephens restated an “overweight” rating and set a $450.00 target price on shares of Hubbell in a report on Friday, August 2nd. Wells Fargo & Company upped their target price on Hubbell from $397.00 to $400.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 31st. JPMorgan Chase & Co. upped their target price on Hubbell from $383.00 to $385.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Finally, Barclays lowered their target price on Hubbell from $384.00 to $368.00 and set an “equal weight” rating for the company in a report on Wednesday, July 31st. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Hubbell currently has a consensus rating of “Moderate Buy” and an average target price of $404.88.

Hubbell Stock Down 1.2 %

Shares of NYSE:HUBB opened at $370.42 on Friday. Hubbell has a 52-week low of $248.37 and a 52-week high of $429.61. The stock has a market cap of $19.89 billion, a P/E ratio of 27.62, a price-to-earnings-growth ratio of 1.51 and a beta of 0.90. The business’s 50 day moving average is $375.45 and its 200 day moving average is $386.38. The company has a quick ratio of 1.13, a current ratio of 1.81 and a debt-to-equity ratio of 0.62.

Hubbell (NYSE:HUBB) last posted its earnings results on Tuesday, July 30th. The industrial products company reported $4.37 earnings per share for the quarter, topping analysts’ consensus estimates of $4.24 by $0.13. The company had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.48 billion. Hubbell had a return on equity of 28.98% and a net margin of 13.14%. Hubbell’s revenue was up 6.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $4.07 earnings per share. Sell-side analysts predict that Hubbell will post 16.39 EPS for the current year.

Insider Buying and Selling

In related news, Director Carlos M. Cardoso sold 450 shares of the firm’s stock in a transaction on Tuesday, August 6th. The stock was 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 owns 1,670 shares in the company, valued at approximately $608,781.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Hubbell news, CEO Gerben Bakker sold 15,677 shares of the 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 directly owns 66,415 shares of the company’s stock, valued at approximately $24,861,791.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Carlos M. Cardoso sold 450 shares of the stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $364.54, for a total value of $164,043.00. Following the sale, 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 currently owned by company insiders.

Institutional Investors Weigh In On Hubbell

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. CWM LLC grew its position in Hubbell by 2.2% during the 2nd quarter. CWM LLC now owns 1,319 shares of the industrial products company’s stock worth $482,000 after purchasing an additional 28 shares during the period. Meeder Advisory Services Inc. grew its position in shares of Hubbell by 3.8% during the 1st quarter. Meeder Advisory Services Inc. now owns 816 shares of the industrial products company’s stock valued at $339,000 after acquiring an additional 30 shares during the period. Detalus Advisors LLC grew its position in shares of Hubbell by 3.0% during the 2nd quarter. Detalus Advisors LLC now owns 1,030 shares of the industrial products company’s stock valued at $377,000 after acquiring an additional 30 shares during the period. Savant Capital LLC grew its position in shares of Hubbell by 2.6% during the 2nd quarter. Savant Capital LLC now owns 1,205 shares of the industrial products company’s stock valued at $440,000 after acquiring an additional 31 shares during the period. Finally, Massmutual Trust Co. FSB ADV grew its position in shares of Hubbell by 23.5% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 184 shares of the industrial products company’s stock valued at $67,000 after acquiring an additional 35 shares during the period. 88.16% of the stock is owned by institutional investors and hedge funds.

About Hubbell

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.