Gulf International Bank UK Ltd Sells 205 Shares of Hubbell Incorporated (NYSE:HUBB)

Gulf International Bank UK Ltd cut its holdings in Hubbell Incorporated (NYSE:HUBB) by 4.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,232 shares of the industrial products company’s stock after selling 205 shares during the quarter. Gulf International Bank UK Ltd’s holdings in Hubbell were worth $1,812,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in HUBB. Nvwm LLC purchased a new position in shares of Hubbell in the 1st quarter valued at $25,000. Quarry LP bought a new stake in Hubbell during the second quarter valued at about $49,000. Northwest Investment Counselors LLC purchased a new position in Hubbell in the third quarter valued at about $58,000. Ashton Thomas Private Wealth LLC purchased a new position in Hubbell in the second quarter valued at about $62,000. Finally, Massmutual Trust Co. FSB ADV raised its holdings in Hubbell by 23.5% in the second quarter. Massmutual Trust Co. FSB ADV now owns 184 shares of the industrial products company’s stock worth $67,000 after purchasing an additional 35 shares in the last quarter. 88.16% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on HUBB shares. Mizuho lifted their price objective on shares of Hubbell from $450.00 to $490.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Morgan Stanley lifted their price target on shares of Hubbell from $407.00 to $445.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Wells Fargo & Company upped their price target on Hubbell from $445.00 to $455.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. cut Hubbell from an “overweight” rating to a “neutral” rating and raised their price objective for the stock from $385.00 to $454.00 in a research report on Thursday, October 10th. Finally, Sanford C. Bernstein assumed coverage on Hubbell in a research note on Tuesday. They set an “outperform” rating and a $535.00 target price on the stock. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Hubbell currently has an average rating of “Moderate Buy” and an average price target of $445.56.

Hubbell Stock Down 1.1 %

Hubbell stock opened at $466.98 on Friday. The business’s 50-day simple moving average is $426.63 and its two-hundred day simple moving average is $397.42. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.05 and a current ratio of 1.66. The company has a market cap of $25.07 billion, a PE ratio of 33.64, a PEG ratio of 1.58 and a beta of 0.90. Hubbell Incorporated has a fifty-two week low of $278.62 and a fifty-two week high of $481.35.

Hubbell (NYSE:HUBB) last released its earnings results on Tuesday, October 29th. The industrial products company reported $4.49 EPS for the quarter, topping analysts’ consensus estimates of $4.47 by $0.02. Hubbell had a return on equity of 28.81% and a net margin of 13.33%. The firm had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter in the previous year, the company posted $3.95 earnings per share. The company’s revenue was up 4.9% compared to the same quarter last year. Equities analysts anticipate that Hubbell Incorporated will post 16.47 EPS for the current year.

Hubbell Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be paid a $1.32 dividend. The ex-dividend date is Friday, November 29th. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.13%. This is a positive change from Hubbell’s previous quarterly dividend of $1.22. Hubbell’s dividend payout ratio is presently 35.16%.

Hubbell Company 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.