Mutual of America Capital Management LLC Sells 160 Shares of Hubbell Incorporated (NYSE:HUBB)

Mutual of America Capital Management LLC cut its stake in shares of Hubbell Incorporated (NYSE:HUBB) by 2.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,612 shares of the industrial products company’s stock after selling 160 shares during the period. Mutual of America Capital Management LLC’s holdings in Hubbell were worth $2,832,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of HUBB. OLD National Bancorp IN boosted its stake in Hubbell by 3.8% during the third quarter. OLD National Bancorp IN now owns 596 shares of the industrial products company’s stock valued at $255,000 after buying an additional 22 shares during the period. CWM LLC boosted its position in shares of Hubbell by 2.2% during the 2nd quarter. CWM LLC now owns 1,319 shares of the industrial products company’s stock valued at $482,000 after acquiring an additional 28 shares during the last quarter. Detalus Advisors LLC grew its holdings in shares of Hubbell by 3.0% during the second quarter. Detalus Advisors LLC now owns 1,030 shares of the industrial products company’s stock worth $377,000 after purchasing an additional 30 shares in the last quarter. Ballentine Partners LLC increased its position in shares of Hubbell by 3.2% in the third quarter. Ballentine Partners LLC now owns 956 shares of the industrial products company’s stock worth $410,000 after purchasing an additional 30 shares during the last quarter. Finally, Savant Capital LLC raised its stake in Hubbell by 2.6% in the second quarter. Savant Capital LLC now owns 1,205 shares of the industrial products company’s stock valued at $440,000 after purchasing an additional 31 shares in the last quarter. 88.16% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

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 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 directly 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 filing with the SEC, which is available at this link. Insiders own 0.66% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Mizuho increased their price target on shares of Hubbell from $450.00 to $490.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Deutsche Bank Aktiengesellschaft raised Hubbell from a “hold” rating to a “buy” rating and increased their target price for the company from $431.00 to $441.00 in a research note on Friday, September 6th. Barclays raised their price objective on Hubbell from $400.00 to $402.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Morgan Stanley raised their price objective on Hubbell from $407.00 to $445.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Finally, StockNews.com upgraded Hubbell from a “hold” rating to a “buy” rating in a report on Thursday, November 14th. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $445.56.

Hubbell Stock Up 0.9 %

Shares of NYSE:HUBB opened at $460.81 on Friday. Hubbell Incorporated has a 1 year low of $293.91 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 stock’s 50-day moving average is $441.22 and its 200 day moving average is $402.22. The company has a market cap of $24.73 billion, a PE ratio of 33.20, a P/E/G ratio of 1.70 and a beta of 0.90.

Hubbell (NYSE:HUBB) last posted its earnings results on Tuesday, October 29th. The industrial products company reported $4.49 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations of $1.48 billion. During the same period in the previous year, the firm earned $3.95 earnings per share. The business’s revenue was up 4.9% compared to the same quarter last year. Sell-side analysts anticipate that Hubbell Incorporated will post 16.47 EPS for the current year.

Hubbell Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be given a $1.32 dividend. This represents a $5.28 annualized dividend and a dividend yield of 1.15%. This is a boost from Hubbell’s previous quarterly dividend of $1.22. The ex-dividend date is Friday, November 29th. Hubbell’s dividend payout ratio (DPR) is currently 35.16%.

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.