National Pension Service Sells 14,848 Shares of Hubbell Incorporated (NYSE:HUBB)

National Pension Service cut its stake in shares of Hubbell Incorporated (NYSE:HUBB) by 15.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 78,952 shares of the industrial products company’s stock after selling 14,848 shares during the quarter. National Pension Service owned 0.15% of Hubbell worth $33,819,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of HUBB. International Assets Investment Management LLC lifted its holdings in shares of Hubbell by 42,735.0% during the 3rd quarter. International Assets Investment Management LLC now owns 1,919,865 shares of the industrial products company’s stock worth $8,223,740,000 after acquiring an additional 1,915,383 shares during the last quarter. Impax Asset Management Group plc lifted its stake in Hubbell by 53.8% during the second quarter. Impax Asset Management Group plc now owns 922,801 shares of the industrial products company’s stock worth $336,984,000 after purchasing an additional 322,728 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Hubbell by 16.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,035,596 shares of the industrial products company’s stock worth $743,970,000 after purchasing an additional 291,850 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Hubbell by 16.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,980,456 shares of the industrial products company’s stock valued at $821,989,000 after purchasing an additional 286,134 shares during the last quarter. Finally, Ceredex Value Advisors LLC raised its holdings in shares of Hubbell by 60.9% during the 2nd quarter. Ceredex Value Advisors LLC now owns 204,720 shares of the industrial products company’s stock valued at $74,821,000 after buying an additional 77,500 shares in the last quarter. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on HUBB. JPMorgan Chase & Co. cut shares of Hubbell from an “overweight” rating to a “neutral” rating and increased their price target for the company from $385.00 to $454.00 in a research report on Thursday, October 10th. StockNews.com upgraded Hubbell from a “hold” rating to a “buy” rating in a research report on Tuesday. Barclays lifted their target price on shares of Hubbell from $400.00 to $402.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft raised shares of Hubbell from a “hold” rating to a “buy” rating and raised their price target for the stock from $431.00 to $441.00 in a report on Friday, September 6th. Finally, Mizuho boosted their price objective 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. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, Hubbell currently has an average rating of “Moderate Buy” and an average target price of $445.56.

Hubbell Stock Up 7.4 %

HUBB stock opened at $472.12 on Thursday. Hubbell Incorporated has a fifty-two week low of $274.42 and a fifty-two week high of $481.35. The company has a market capitalization of $25.34 billion, a price-to-earnings ratio of 34.01, a price-to-earnings-growth ratio of 1.58 and a beta of 0.90. The business’s 50 day moving average price is $425.20 and its two-hundred day moving average price is $396.93. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.05 and a current ratio of 1.66.

Hubbell (NYSE:HUBB) last issued its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $4.49 earnings per share for the quarter, topping the consensus estimate of $4.47 by $0.02. The company had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.48 billion. Hubbell had a return on equity of 28.81% and a net margin of 13.33%. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period in the prior year, the firm earned $3.95 earnings per share. As a group, analysts forecast that Hubbell Incorporated will post 16.47 earnings per share for the current fiscal year.

Hubbell Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be issued a $1.32 dividend. This represents a $5.28 dividend on an annualized basis and a yield of 1.12%. The ex-dividend date of this dividend is Friday, November 29th. This is a boost from Hubbell’s previous quarterly dividend of $1.22. Hubbell’s dividend payout ratio is 35.16%.

Insider Buying and Selling at Hubbell

In other news, CEO Gerben Bakker sold 15,677 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The stock was 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 of the company’s stock, valued at $24,861,791.10. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.78% 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.