Hubbell Incorporated (NYSE:HUBB) Shares Purchased by Toronto Dominion Bank

Toronto Dominion Bank raised its holdings in Hubbell Incorporated (NYSE:HUBB) by 15.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 18,052 shares of the industrial products company’s stock after acquiring an additional 2,378 shares during the quarter. Toronto Dominion Bank’s holdings in Hubbell were worth $7,733,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Prospera Private Wealth LLC purchased a new stake in shares of Hubbell during the third quarter valued at $33,000. Ashton Thomas Securities LLC purchased a new position in shares of Hubbell in the third quarter worth approximately $41,000. Quarry LP acquired a new stake in shares of Hubbell during the second quarter valued at approximately $49,000. Northwest Investment Counselors LLC purchased a new stake in shares of Hubbell in the 3rd quarter valued at approximately $58,000. Finally, GAMMA Investing LLC boosted its stake in Hubbell by 84.7% in the 3rd quarter. GAMMA Investing LLC now owns 157 shares of the industrial products company’s stock worth $67,000 after purchasing an additional 72 shares during the period. Institutional investors own 88.16% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on HUBB shares. Deutsche Bank Aktiengesellschaft lowered Hubbell from a “buy” rating to a “hold” rating and reduced their target price for the company from $493.00 to $473.00 in a report on Tuesday, November 26th. StockNews.com downgraded Hubbell from a “buy” rating to a “hold” rating in a research note on Tuesday, December 3rd. Mizuho lifted their target price on Hubbell from $450.00 to $490.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Morgan Stanley increased their price target on shares of Hubbell from $407.00 to $445.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Finally, Wells Fargo & Company boosted their price objective on shares of Hubbell from $445.00 to $455.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $472.13.

Hubbell Trading Down 0.4 %

NYSE:HUBB opened at $453.62 on Friday. 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 company has a market capitalization of $24.35 billion, a P/E ratio of 32.68, a P/E/G ratio of 1.70 and a beta of 0.91. Hubbell Incorporated has a 52 week low of $315.38 and a 52 week high of $481.35. The stock’s 50 day moving average price is $451.86 and its 200 day moving average price is $408.23.

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

Hubbell Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be paid a $1.32 dividend. The ex-dividend date of this dividend is Friday, November 29th. This is a positive change from Hubbell’s previous quarterly dividend of $1.22. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.16%. Hubbell’s payout ratio is presently 38.04%.

Insider Transactions at Hubbell

In related news, insider Mark Eugene Mikes sold 1,144 shares of the 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 owns 2,957 shares in the company, valued at approximately $1,378,553.40. This trade represents a 27.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.66% of the company’s stock.

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.