OLD National Bancorp IN Purchases 75 Shares of Hubbell Incorporated (NYSE:HUBB)

OLD National Bancorp IN grew its position in shares of Hubbell Incorporated (NYSE:HUBB) by 12.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 671 shares of the industrial products company’s stock after acquiring an additional 75 shares during the period. OLD National Bancorp IN’s holdings in Hubbell were worth $281,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Creative Planning boosted its holdings in Hubbell by 31.9% in the second quarter. Creative Planning now owns 3,473 shares of the industrial products company’s stock valued at $1,269,000 after acquiring an additional 839 shares in the last quarter. Cetera Investment Advisers lifted its position in shares of Hubbell by 8.2% in the 2nd quarter. Cetera Investment Advisers now owns 6,484 shares of the industrial products company’s stock worth $2,370,000 after purchasing an additional 493 shares during the period. Sanctuary Advisors LLC bought a new stake in shares of Hubbell during the 2nd quarter valued at about $2,176,000. Czech National Bank increased its position in shares of Hubbell by 6.9% during the third quarter. Czech National Bank now owns 10,935 shares of the industrial products company’s stock valued at $4,684,000 after buying an additional 705 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in Hubbell by 84.7% in the third quarter. GAMMA Investing LLC now owns 157 shares of the industrial products company’s stock worth $67,000 after buying an additional 72 shares during the period. 88.16% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on HUBB. Sanford C. Bernstein started coverage on Hubbell in a research report on Tuesday, November 5th. They issued an “outperform” rating and a $535.00 target price for the company. JPMorgan Chase & Co. lowered Hubbell from an “overweight” rating to a “neutral” rating and raised their price objective for the company from $385.00 to $454.00 in a research report on Thursday, October 10th. StockNews.com downgraded shares of Hubbell from a “buy” rating to a “hold” rating in a research report on Tuesday, January 28th. Mizuho lifted their price target on shares of Hubbell from $450.00 to $490.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Finally, Barclays upped their price objective on shares of Hubbell from $402.00 to $475.00 and gave the stock an “equal weight” rating in a report on Thursday, December 5th. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Hubbell currently has an average rating of “Hold” and an average target price of $471.50.

Hubbell Stock Down 0.9 %

HUBB stock opened at $422.94 on Monday. The stock has a market capitalization of $22.70 billion, a P/E ratio of 30.47, a P/E/G ratio of 1.43 and a beta of 0.93. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.66 and a quick ratio of 1.05. Hubbell Incorporated has a 1-year low of $334.17 and a 1-year high of $481.35. The business has a fifty day moving average price of $439.29 and a 200-day moving average price of $421.85.

Hubbell Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Friday, February 28th will be issued a $1.32 dividend. This represents a $5.28 dividend on an annualized basis and a yield of 1.25%. Hubbell’s dividend payout ratio is 38.04%.

Insider Buying and Selling at Hubbell

In other Hubbell news, insider Mark Eugene Mikes sold 1,144 shares of the firm’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $466.20, for a total transaction of $533,332.80. Following the sale, the insider now directly owns 2,957 shares of the company’s stock, valued at $1,378,553.40. This trade represents a 27.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.66% of the company’s stock.

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.