Westfield Capital Management Co. LP Sells 73,876 Shares of Hubbell Incorporated (NYSE:HUBB)

Westfield Capital Management Co. LP lowered its position in Hubbell Incorporated (NYSE:HUBB) by 30.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 169,852 shares of the industrial products company’s stock after selling 73,876 shares during the quarter. Westfield Capital Management Co. LP owned about 0.32% of Hubbell worth $72,756,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. EP Wealth Advisors LLC bought a new position in Hubbell in the 1st quarter worth about $252,000. Lazard Asset Management LLC raised its stake in Hubbell by 85.3% in the first quarter. Lazard Asset Management LLC now owns 1,781 shares of the industrial products company’s stock valued at $739,000 after purchasing an additional 820 shares in the last quarter. Mount Yale Investment Advisors LLC lifted its position in Hubbell by 10.0% during the first quarter. Mount Yale Investment Advisors LLC now owns 703 shares of the industrial products company’s stock valued at $292,000 after purchasing an additional 64 shares during the last quarter. Janus Henderson Group PLC lifted its position in Hubbell by 6.5% during the first quarter. Janus Henderson Group PLC now owns 6,586 shares of the industrial products company’s stock valued at $2,731,000 after purchasing an additional 403 shares during the last quarter. Finally, Interval Partners LP grew its stake in Hubbell by 222.4% in the 1st quarter. Interval Partners LP now owns 63,077 shares of the industrial products company’s stock worth $26,180,000 after buying an additional 43,511 shares in the last quarter. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Hubbell Stock Performance

Shares of HUBB opened at $460.81 on Friday. Hubbell Incorporated has a one year low of $293.91 and a one year high of $481.35. The company has a 50-day simple moving average of $441.22 and a two-hundred day simple moving average of $402.22. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.66 and a quick ratio of 1.05. The firm has a market capitalization of $24.73 billion, a PE ratio of 33.20, a price-to-earnings-growth ratio of 1.70 and a beta of 0.90.

Hubbell (NYSE:HUBB) last announced its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $4.49 EPS for the quarter, beating the consensus estimate of $4.47 by $0.02. The business 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%. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter last year, the firm posted $3.95 earnings per share. On average, analysts anticipate 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. 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 represents a $5.28 annualized dividend and a yield of 1.15%. This is a positive change from Hubbell’s previous quarterly dividend of $1.22. Hubbell’s payout ratio is presently 35.16%.

Wall Street Analysts Forecast Growth

HUBB has been the topic of several research reports. Stephens restated an “overweight” rating and set a $450.00 price objective on shares of Hubbell in a research report on Friday, August 2nd. JPMorgan Chase & Co. lowered Hubbell from an “overweight” rating to a “neutral” rating and lifted their price target for the stock from $385.00 to $454.00 in a research note on Thursday, October 10th. Deutsche Bank Aktiengesellschaft upgraded shares of Hubbell from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $431.00 to $441.00 in a report on Friday, September 6th. StockNews.com upgraded Hubbell from a “hold” rating to a “buy” rating in a report on Thursday, November 14th. Finally, Wells Fargo & Company increased their price target 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. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $445.56.

Insiders Place Their Bets

In other Hubbell news, insider Mark Eugene Mikes sold 1,144 shares of the business’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $466.20, for a total value of $533,332.80. Following the sale, the insider now directly owns 2,957 shares of the company’s stock, valued at approximately $1,378,553.40. The trade was a 27.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.66% of the company’s stock.

About Hubbell

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.