Hubbell Incorporated (NYSE:HUBB) Shares Sold by Northwest & Ethical Investments L.P.

Northwest & Ethical Investments L.P. cut its holdings in Hubbell Incorporated (NYSE:HUBB) by 0.2% during the third quarter, HoldingsChannel reports. The fund owned 62,216 shares of the industrial products company’s stock after selling 112 shares during the period. Northwest & Ethical Investments L.P.’s holdings in Hubbell were worth $26,650,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. IFG Advisory LLC purchased a new stake in shares of Hubbell in the 2nd quarter valued at $475,000. Acadian Asset Management LLC increased its position in shares of Hubbell by 51.3% in the 2nd quarter. Acadian Asset Management LLC now owns 3,693 shares of the industrial products company’s stock valued at $1,347,000 after purchasing an additional 1,252 shares during the last quarter. Great Valley Advisor Group Inc. lifted its position in shares of Hubbell by 24.6% during the 2nd quarter. Great Valley Advisor Group Inc. now owns 6,873 shares of the industrial products company’s stock worth $2,511,000 after purchasing an additional 1,359 shares during the last quarter. LGT Capital Partners LTD. acquired a new position in shares of Hubbell during the third quarter worth $39,687,000. Finally, DekaBank Deutsche Girozentrale increased its holdings in Hubbell by 2.9% in the first quarter. DekaBank Deutsche Girozentrale now owns 99,227 shares of the industrial products company’s stock valued at $40,731,000 after buying an additional 2,822 shares during the last quarter. 88.16% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Hubbell news, insider Mark Eugene Mikes sold 1,144 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now owns 2,957 shares in the company, valued at $1,378,553.40. This trade represents a 27.90 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.78% of the stock is currently owned by corporate insiders.

Hubbell Trading Down 0.4 %

Shares of HUBB stock traded down $1.89 during trading hours on Thursday, hitting $458.85. 253,964 shares of the company were exchanged, compared to its average volume of 443,969. Hubbell Incorporated has a 1 year low of $293.91 and a 1 year high of $481.35. The firm has a fifty day moving average of $444.28 and a 200 day moving average of $403.47. The firm has a market cap of $24.63 billion, a PE ratio of 33.06, a PEG ratio of 1.73 and a beta of 0.90. The company has a quick ratio of 1.05, a current ratio of 1.66 and a debt-to-equity ratio of 0.51.

Hubbell (NYSE:HUBB) last posted its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $4.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.47 by $0.02. The firm had revenue of $1.44 billion during 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%. During the same quarter in the previous year, the business earned $3.95 earnings per share. The firm’s quarterly revenue was up 4.9% compared to the same quarter last year. Analysts expect that Hubbell Incorporated will post 16.47 earnings per share for the current year.

Hubbell Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be issued a dividend of $1.32 per share. This is an increase 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 presently 35.16%.

Analyst Ratings Changes

A number of research firms have recently commented on HUBB. Stephens reiterated an “overweight” rating and issued a $450.00 price objective on shares of Hubbell in a report on Friday, August 2nd. Sanford C. Bernstein initiated coverage on shares of Hubbell in a report on Tuesday, November 5th. They set an “outperform” rating and a $535.00 price objective on the stock. JPMorgan Chase & Co. cut shares of Hubbell from an “overweight” rating to a “neutral” rating and upped their target price for the company from $385.00 to $454.00 in a report on Thursday, October 10th. StockNews.com raised shares of Hubbell from a “hold” rating to a “buy” rating in a research report on Monday. Finally, Wells Fargo & Company boosted their price target on shares of Hubbell from $445.00 to $455.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Hubbell presently has a consensus rating of “Moderate Buy” and an average price target of $449.11.

Hubbell 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.