State of Alaska Department of Revenue Buys 420 Shares of Hubbell Incorporated (NYSE:HUBB)

State of Alaska Department of Revenue lifted its stake in shares of Hubbell Incorporated (NYSE:HUBB) by 7.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,236 shares of the industrial products company’s stock after purchasing an additional 420 shares during the period. State of Alaska Department of Revenue’s holdings in Hubbell were worth $2,671,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in HUBB. Wealth Enhancement Advisory Services LLC lifted its stake in Hubbell by 7.2% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 3,176 shares of the industrial products company’s stock valued at $1,318,000 after acquiring an additional 212 shares during the last quarter. Diversified Trust Co grew its holdings in Hubbell by 56.2% during the first quarter. Diversified Trust Co now owns 1,417 shares of the industrial products company’s stock worth $588,000 after purchasing an additional 510 shares during the period. Norden Group LLC acquired a new position in Hubbell during the first quarter worth approximately $261,000. First Trust Direct Indexing L.P. increased its position in Hubbell by 15.5% during the first quarter. First Trust Direct Indexing L.P. now owns 914 shares of the industrial products company’s stock worth $379,000 after buying an additional 123 shares during the last quarter. Finally, Van ECK Associates Corp raised its stake in Hubbell by 6.9% in the first quarter. Van ECK Associates Corp now owns 8,426 shares of the industrial products company’s stock valued at $3,497,000 after buying an additional 545 shares during the period. Institutional investors and hedge funds own 88.16% of the company’s stock.

Hubbell Price Performance

Shares of Hubbell stock opened at $426.76 on Friday. The company has a quick ratio of 1.13, a current ratio of 1.81 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $22.91 billion, a price-to-earnings ratio of 31.82, a price-to-earnings-growth ratio of 1.66 and a beta of 0.90. Hubbell Incorporated has a twelve month low of $248.37 and a twelve month high of $461.77. The company has a 50-day simple moving average of $419.94 and a two-hundred day simple moving average of $395.41.

Hubbell (NYSE:HUBB) last released its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $4.49 earnings per share for the quarter, beating analysts’ consensus estimates of $4.47 by $0.02. The company had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.48 billion. Hubbell had a net margin of 13.14% and a return on equity of 28.98%. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period in the previous year, the business earned $3.95 earnings per share. Analysts forecast that Hubbell Incorporated will post 16.43 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 issued a dividend of $1.32 per share. This is a positive change from Hubbell’s previous quarterly dividend of $1.22. This represents a $5.28 annualized dividend and a dividend yield of 1.24%. The ex-dividend date is Friday, November 29th. Hubbell’s dividend payout ratio is 36.39%.

Analysts Set New Price Targets

Several research analysts have recently commented on HUBB shares. Deutsche Bank Aktiengesellschaft upgraded Hubbell from a “hold” rating to a “buy” rating and lifted their target price for the stock from $431.00 to $441.00 in a research note on Friday, September 6th. Mizuho upped their price objective on shares of Hubbell from $450.00 to $490.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Stephens restated an “overweight” rating and set a $450.00 target price on shares of Hubbell in a research note on Friday, August 2nd. Morgan Stanley lifted their target price on shares of Hubbell from $407.00 to $445.00 and gave the stock an “equal weight” rating in a report on Wednesday. Finally, 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 report on Thursday, October 10th. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $434.38.

Insider Buying and Selling

In related news, Director Carlos M. Cardoso sold 450 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $364.54, for a total transaction of $164,043.00. Following the completion of the sale, the director now owns 1,670 shares of the company’s stock, valued at $608,781.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Hubbell news, Director Carlos M. Cardoso sold 450 shares of the company’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $364.54, for a total transaction of $164,043.00. Following the completion of the sale, the director now directly owns 1,670 shares in the company, valued at $608,781.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Gerben Bakker sold 15,677 shares of the firm’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $374.34, for a total value of $5,868,528.18. Following the completion of the sale, the chief executive officer now directly owns 66,415 shares in the company, valued at approximately $24,861,791.10. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.66% of the stock is owned by company 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.