Franklin Resources Inc. Has $45.78 Million Position in Hubbell Incorporated (NYSE:HUBB)

Franklin Resources Inc. lifted its position in Hubbell Incorporated (NYSE:HUBB) by 32.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 99,405 shares of the industrial products company’s stock after acquiring an additional 24,486 shares during the period. Franklin Resources Inc. owned approximately 0.19% of Hubbell worth $45,776,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Tidal Investments LLC increased its stake in Hubbell by 8.5% in the third quarter. Tidal Investments LLC now owns 2,358 shares of the industrial products company’s stock valued at $1,010,000 after purchasing an additional 184 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in Hubbell in the third quarter valued at approximately $247,000. M&T Bank Corp increased its stake in Hubbell by 0.5% in the third quarter. M&T Bank Corp now owns 26,242 shares of the industrial products company’s stock valued at $11,241,000 after purchasing an additional 124 shares in the last quarter. Unigestion Holding SA bought a new stake in Hubbell in the third quarter valued at approximately $861,000. Finally, Rehmann Capital Advisory Group increased its stake in Hubbell by 2.5% in the third quarter. Rehmann Capital Advisory Group now owns 1,707 shares of the industrial products company’s stock valued at $731,000 after purchasing an additional 41 shares in the last quarter. Institutional investors own 88.16% of the company’s stock.

Hubbell Stock Down 3.6 %

Hubbell stock opened at $439.33 on Wednesday. The company has a market cap of $23.58 billion, a P/E ratio of 31.65, a price-to-earnings-growth ratio of 1.70 and a beta of 0.91. Hubbell Incorporated has a 1-year low of $315.38 and a 1-year high of $481.35. The company has a fifty day simple moving average of $452.20 and a 200 day simple moving average of $408.82. 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 (NYSE:HUBB) last released its earnings results on Tuesday, October 29th. The industrial products company reported $4.49 earnings per share for the quarter, beating analysts’ consensus estimates of $4.47 by $0.02. The business had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.48 billion. Hubbell had a net margin of 13.33% and a return on equity of 28.81%. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter last year, the firm earned $3.95 earnings per share. Research analysts anticipate that Hubbell Incorporated will post 16.47 earnings per share for the current fiscal year.

Hubbell Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were paid a $1.32 dividend. The ex-dividend date was Friday, November 29th. This represents a $5.28 dividend on an annualized basis and a yield of 1.20%. This is a boost from Hubbell’s previous quarterly dividend of $1.22. Hubbell’s dividend payout ratio (DPR) is currently 38.04%.

Analyst Upgrades and Downgrades

HUBB has been the subject of several recent analyst reports. Morgan Stanley upped their target price on shares of Hubbell from $407.00 to $445.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft downgraded shares of Hubbell from a “buy” rating to a “hold” rating and lowered their target price for the company from $493.00 to $473.00 in a research note on Tuesday, November 26th. JPMorgan Chase & Co. downgraded shares of Hubbell from an “overweight” rating to a “neutral” rating and increased their price objective for the stock 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, December 3rd. Finally, Wells Fargo & Company increased their price objective on shares of Hubbell from $445.00 to $455.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Six analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $472.13.

Insider Buying and Selling at Hubbell

In other Hubbell news, insider Mark Eugene Mikes sold 1,144 shares of the stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $466.20, for a total value 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.66% of the company’s stock.

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.