Fmr LLC Sells 53,117 Shares of Hubbell Incorporated (NYSE:HUBB)

Fmr LLC lessened its position in Hubbell Incorporated (NYSE:HUBB) by 2.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,292,000 shares of the industrial products company’s stock after selling 53,117 shares during the quarter. Fmr LLC’s holdings in Hubbell were worth $981,778,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the company. Mizuho Securities USA LLC lifted its holdings in shares of Hubbell by 192,421.1% in the 3rd quarter. Mizuho Securities USA LLC now owns 7,980,000 shares of the industrial products company’s stock worth $3,418,233,000 after acquiring an additional 7,975,855 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Hubbell by 16.7% in the second quarter. Bank of New York Mellon Corp now owns 2,035,596 shares of the industrial products company’s stock worth $743,970,000 after purchasing an additional 291,850 shares during the last quarter. International Assets Investment Management LLC boosted its position in Hubbell by 42,735.0% during the third quarter. International Assets Investment Management LLC now owns 1,919,865 shares of the industrial products company’s stock valued at $8,223,740,000 after buying an additional 1,915,383 shares during the period. Massachusetts Financial Services Co. MA grew its stake in shares of Hubbell by 6.2% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,417,476 shares of the industrial products company’s stock valued at $607,176,000 after buying an additional 82,258 shares during the last quarter. Finally, Impax Asset Management Group plc increased its holdings in shares of Hubbell by 30.3% in the third quarter. Impax Asset Management Group plc now owns 1,202,455 shares of the industrial products company’s stock worth $514,377,000 after buying an additional 279,654 shares during the period. Institutional investors own 88.16% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on HUBB shares. StockNews.com upgraded Hubbell from a “hold” rating to a “buy” rating in a report on Monday. JPMorgan Chase & Co. cut shares of Hubbell from an “overweight” rating to a “neutral” rating and raised their target price for the stock from $385.00 to $454.00 in a report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft lowered shares of Hubbell from a “buy” rating to a “hold” rating and lowered their price target for the company from $493.00 to $473.00 in a report on Tuesday. Mizuho raised their price target on shares of Hubbell from $450.00 to $490.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Finally, Morgan Stanley increased their price objective on Hubbell from $407.00 to $445.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $449.11.

Insider Activity at Hubbell

In related news, insider Mark Eugene Mikes sold 1,144 shares of the company’s 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 transaction, the insider now owns 2,957 shares in the company, valued at $1,378,553.40. The trade was a 27.90 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.78% of the stock is owned by corporate insiders.

Hubbell Stock Down 0.4 %

Shares of NYSE:HUBB opened at $458.81 on Thursday. The firm has a market capitalization of $24.62 billion, a P/E ratio of 33.06, a P/E/G ratio of 1.73 and a beta of 0.90. 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 stock has a 50 day moving average price of $444.28 and a 200-day moving average price of $403.47. Hubbell Incorporated has a 52-week low of $293.91 and a 52-week high of $481.35.

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. Hubbell had a return on equity of 28.81% and a net margin of 13.33%. The business had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.48 billion. During the same quarter last year, the firm posted $3.95 earnings per share. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. As a group, equities research analysts anticipate that Hubbell Incorporated will post 16.47 EPS for the current fiscal year.

Hubbell Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors 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 represents a $5.28 annualized dividend and a dividend yield of 1.15%. This is an increase from Hubbell’s previous quarterly dividend of $1.22. Hubbell’s dividend payout ratio is presently 35.16%.

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.