Amalgamated Bank Sells 350 Shares of Hubbell Incorporated (NYSE:HUBB)

Amalgamated Bank lessened its holdings in Hubbell Incorporated (NYSE:HUBB) by 3.2% during the third quarter, HoldingsChannel.com reports. The fund owned 10,546 shares of the industrial products company’s stock after selling 350 shares during the period. Amalgamated Bank’s holdings in Hubbell were worth $4,517,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. IFG Advisory LLC bought a new position in shares of Hubbell in the 2nd quarter valued at $475,000. Acadian Asset Management LLC raised its position in Hubbell by 51.3% in the second 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. boosted its stake in shares of Hubbell by 24.6% during the second quarter. Great Valley Advisor Group Inc. now owns 6,873 shares of the industrial products company’s stock valued at $2,511,000 after purchasing an additional 1,359 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its stake in shares of Hubbell by 2.9% during the first quarter. DekaBank Deutsche Girozentrale now owns 99,227 shares of the industrial products company’s stock valued at $40,731,000 after purchasing an additional 2,822 shares in the last quarter. Finally, Cetera Advisors LLC bought a new stake in shares of Hubbell during the first quarter worth about $582,000. Institutional investors and hedge funds own 88.16% of the company’s stock.

Hubbell Stock Up 0.2 %

Shares of NYSE:HUBB opened at $467.94 on Friday. Hubbell Incorporated has a 1 year low of $281.45 and a 1 year high of $481.35. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.66 and a quick ratio of 1.05. The business’s 50-day moving average is $427.99 and its 200-day moving average is $397.96. The company has a market capitalization of $25.11 billion, a price-to-earnings ratio of 33.71, a P/E/G ratio of 1.76 and a beta of 0.90.

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, topping analysts’ consensus estimates of $4.47 by $0.02. The firm 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 company’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period in the prior year, the business earned $3.95 EPS. Equities research analysts predict that Hubbell Incorporated will post 16.47 earnings per share for the current year.

Hubbell Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be paid a $1.32 dividend. This is an increase from Hubbell’s previous quarterly dividend of $1.22. This represents a $5.28 annualized dividend and a yield of 1.13%. The ex-dividend date of this dividend is Friday, November 29th. Hubbell’s payout ratio is 35.16%.

Analysts Set New Price Targets

Several research firms recently commented on HUBB. JPMorgan Chase & Co. downgraded shares of Hubbell from an “overweight” rating to a “neutral” rating and lifted their target price for the stock from $385.00 to $454.00 in a research report on Thursday, October 10th. Barclays lifted their price target on shares of Hubbell from $400.00 to $402.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Wells Fargo & Company raised their target price on Hubbell from $445.00 to $455.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Sanford C. Bernstein began coverage on Hubbell in a research report on Tuesday. They issued an “outperform” rating and a $535.00 price target on the stock. Finally, StockNews.com upgraded Hubbell from a “hold” rating to a “buy” rating in a research report on Tuesday. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Hubbell has a consensus rating of “Moderate Buy” and an average price target of $445.56.

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.