Public Sector Pension Investment Board Grows Holdings in Hubbell Incorporated (NYSE:HUBB)

Public Sector Pension Investment Board boosted its holdings in shares of Hubbell Incorporated (NYSE:HUBB) by 14.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,348 shares of the industrial products company’s stock after acquiring an additional 300 shares during the period. Public Sector Pension Investment Board’s holdings in Hubbell were worth $1,006,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Prospera Private Wealth LLC bought a new position in shares of Hubbell during the third quarter valued at $33,000. Ashton Thomas Securities LLC purchased a new stake in Hubbell during the 3rd quarter valued at about $41,000. Quarry LP bought a new stake in Hubbell during the 2nd quarter valued at about $49,000. Northwest Investment Counselors LLC purchased a new position in Hubbell in the third quarter worth about $58,000. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in shares of Hubbell during the second quarter valued at approximately $62,000. Institutional investors own 88.16% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on HUBB. Sanford C. Bernstein initiated coverage on Hubbell in a research report on Tuesday, November 5th. They issued an “outperform” rating and a $535.00 price objective on the stock. Mizuho boosted their price target on Hubbell from $450.00 to $490.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Wells Fargo & Company increased their price objective on Hubbell from $445.00 to $455.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. StockNews.com cut shares of Hubbell from a “buy” rating to a “hold” rating in a research note on Tuesday, December 3rd. Finally, JPMorgan Chase & Co. downgraded shares of Hubbell from an “overweight” rating to a “neutral” rating and raised their price target for the company from $385.00 to $454.00 in a report on Thursday, October 10th. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Hubbell presently has an average rating of “Hold” and a consensus price target of $457.22.

Hubbell Stock Performance

Shares of NYSE HUBB opened at $461.97 on Friday. 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 Incorporated has a 12-month low of $303.06 and a 12-month high of $481.35. The firm has a market capitalization of $24.79 billion, a price-to-earnings ratio of 33.28, a price-to-earnings-growth ratio of 1.75 and a beta of 0.91. The firm has a 50 day moving average of $449.29 and a 200 day moving average of $406.54.

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

Hubbell Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be paid a dividend of $1.32 per share. The ex-dividend date of this dividend is Friday, November 29th. This is an increase from Hubbell’s previous quarterly dividend of $1.22. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.14%. Hubbell’s payout ratio is 38.04%.

Insider Buying and Selling

In related news, insider Mark Eugene Mikes sold 1,144 shares of the company’s 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 transaction, the insider now owns 2,957 shares of the company’s stock, valued at approximately $1,378,553.40. This represents a 27.90 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.66% of the stock is currently owned by insiders.

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.