Hubbell Incorporated (NYSE:HUBB) Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC lowered its holdings in Hubbell Incorporated (NYSE:HUBB) by 61.5% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,669 shares of the industrial products company’s stock after selling 12,253 shares during the period. Intech Investment Management LLC’s holdings in Hubbell were worth $3,285,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Prospera Private Wealth LLC purchased a new stake in shares of Hubbell during the third quarter worth $33,000. Ashton Thomas Securities LLC acquired a new position in Hubbell during the 3rd quarter worth $41,000. Quarry LP purchased a new stake in Hubbell during the 2nd quarter worth about $49,000. Northwest Investment Counselors LLC acquired a new stake in Hubbell in the 3rd quarter valued at about $58,000. Finally, GAMMA Investing LLC boosted its stake in shares of Hubbell by 84.7% in the 3rd quarter. GAMMA Investing LLC now owns 157 shares of the industrial products company’s stock valued at $67,000 after buying an additional 72 shares during the period. 88.16% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Hubbell

In other Hubbell news, insider Mark Eugene Mikes sold 1,144 shares of the stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $466.20, for a total transaction of $533,332.80. Following the completion of the sale, the insider now directly owns 2,957 shares of the company’s stock, valued at approximately $1,378,553.40. This trade represents a 27.90 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.66% of the stock is currently owned by company insiders.

Hubbell Stock Performance

Shares of HUBB stock 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 quick ratio of 1.05 and a current ratio of 1.66. The firm has a market cap of $24.73 billion, a price-to-earnings ratio of 33.20, a PEG ratio of 1.70 and a beta of 0.90. The stock’s 50-day moving average is $441.22 and its two-hundred day moving average is $402.22.

Hubbell (NYSE:HUBB) last released its quarterly earnings results 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 company had revenue of $1.44 billion for 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%. The firm’s revenue was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.95 earnings per share. Analysts predict that Hubbell Incorporated will post 16.47 earnings per share for the current year.

Hubbell Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be given a dividend of $1.32 per share. This is an increase from Hubbell’s previous quarterly dividend of $1.22. This represents a $5.28 annualized dividend and a yield of 1.15%. The ex-dividend date of this dividend is Friday, November 29th. Hubbell’s dividend payout ratio (DPR) is presently 35.16%.

Wall Street Analyst Weigh In

HUBB has been the topic of several analyst reports. JPMorgan Chase & Co. cut shares of Hubbell from an “overweight” rating to a “neutral” rating and raised their target price for the company from $385.00 to $454.00 in a report on Thursday, October 10th. Barclays lifted their price objective on shares of Hubbell from $400.00 to $402.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. 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 report on Friday, September 6th. StockNews.com raised Hubbell from a “hold” rating to a “buy” rating in a report on Thursday, November 14th. Finally, Morgan Stanley increased their price objective on Hubbell from $407.00 to $445.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Hubbell has an average rating of “Moderate Buy” and a consensus target price of $445.56.

Hubbell 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.