Keybank National Association OH lifted its stake in shares of Hubbell Incorporated (NYSE:HUBB) by 24.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 26,150 shares of the industrial products company’s stock after acquiring an additional 5,109 shares during the quarter. Keybank National Association OH’s holdings in Hubbell were worth $3,437,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors also recently bought and sold shares of HUBB. Cullen Frost Bankers Inc. increased its holdings in Hubbell by 1,950.0% in the second quarter. Cullen Frost Bankers Inc. now owns 205 shares of the industrial products company’s stock valued at $27,000 after buying an additional 195 shares during the last quarter. Krane Funds Advisors LLC purchased a new position in Hubbell in the second quarter valued at $27,000. Advisory Services Network LLC increased its holdings in Hubbell by 57.1% in the second quarter. Advisory Services Network LLC now owns 322 shares of the industrial products company’s stock valued at $42,000 after buying an additional 117 shares during the last quarter. CENTRAL TRUST Co increased its holdings in Hubbell by 125.0% in the second quarter. CENTRAL TRUST Co now owns 360 shares of the industrial products company’s stock valued at $45,000 after buying an additional 200 shares during the last quarter. Finally, River & Mercantile Asset Management LLP purchased a new position in Hubbell in the second quarter valued at $46,000. 85.92% of the stock is currently owned by institutional investors and hedge funds.
In other news, insider Rodd Richard Ruland sold 3,594 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $143.96, for a total transaction of $517,392.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Joseph Anthony Capozzoli sold 1,243 shares of the stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $142.39, for a total transaction of $176,990.77. Following the sale, the vice president now owns 10,812 shares of the company’s stock, valued at approximately $1,539,520.68. The disclosure for this sale can be found here. 2.20% of the stock is currently owned by corporate insiders.
Several brokerages have issued reports on HUBB. Zacks Investment Research raised Hubbell from a “sell” rating to a “hold” rating in a report on Thursday, October 31st. G.Research reaffirmed a “buy” rating on shares of Hubbell in a report on Wednesday, August 21st. JPMorgan Chase & Co. raised their price objective on Hubbell from $135.00 to $145.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Morgan Stanley set a $138.00 price objective on Hubbell and gave the stock a “hold” rating in a report on Wednesday, July 31st. Finally, Gabelli began coverage on Hubbell in a report on Wednesday, August 21st. They set a “buy” rating and a $160.00 price objective on the stock. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $146.67.
Shares of HUBB stock traded up $1.46 during mid-day trading on Friday, hitting $145.50. 207,305 shares of the stock were exchanged, compared to its average volume of 312,314. The stock’s fifty day simple moving average is $135.49 and its two-hundred day simple moving average is $128.38. The stock has a market capitalization of $7.90 billion, a price-to-earnings ratio of 19.96, a P/E/G ratio of 1.94 and a beta of 1.50. Hubbell Incorporated has a 12-month low of $91.88 and a 12-month high of $146.81. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.33 and a current ratio of 2.09.
Hubbell (NYSE:HUBB) last issued its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $2.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.27 by $0.07. The company had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.21 billion. Hubbell had a return on equity of 23.47% and a net margin of 8.34%. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter last year, the company posted $2.34 earnings per share. On average, research analysts expect that Hubbell Incorporated will post 8.07 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be paid a dividend of $0.91 per share. This is an increase from Hubbell’s previous quarterly dividend of $0.84. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $3.64 annualized dividend and a dividend yield of 2.50%. Hubbell’s dividend payout ratio is 46.09%.
Hubbell Company Profile
Hubbell Incorporated designs, manufactures, and sells electrical and electronic products in the United States and internationally. It operates through two segments, Electrical and Power. The Electrical segment offers standard and special application wiring device products, rough-in electrical products, connector and grounding products, lighting fixtures and controls, 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 for the natural gas distribution market.
Featured Story: Stock Symbols, CUSIP and Other Stock Identifiers
Want to see what other hedge funds are holding HUBB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Hubbell Incorporated (NYSE:HUBB).
Receive News & Ratings for Hubbell Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hubbell and related companies with MarketBeat.com's FREE daily email newsletter.