Arlington Capital Management Inc. Takes Position in Hubbell Incorporated (NYSE:HUBB)

Arlington Capital Management Inc. acquired a new position in shares of Hubbell Incorporated (NYSE:HUBB) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 1,520 shares of the industrial products company’s stock, valued at approximately $651,000.

Several other large investors also recently added to or reduced their stakes in the stock. OLD National Bancorp IN grew its position in Hubbell by 3.8% in the third quarter. OLD National Bancorp IN now owns 596 shares of the industrial products company’s stock worth $255,000 after acquiring an additional 22 shares during the period. CWM LLC grew its stake in shares of Hubbell by 2.2% in the second quarter. CWM LLC now owns 1,319 shares of the industrial products company’s stock worth $482,000 after acquiring an additional 28 shares in the last quarter. Meeder Advisory Services Inc. increased its position in shares of Hubbell by 3.8% during the first quarter. Meeder Advisory Services Inc. now owns 816 shares of the industrial products company’s stock worth $339,000 after acquiring an additional 30 shares during the period. Detalus Advisors LLC raised its stake in shares of Hubbell by 3.0% in the second quarter. Detalus Advisors LLC now owns 1,030 shares of the industrial products company’s stock valued at $377,000 after acquiring an additional 30 shares in the last quarter. Finally, Ballentine Partners LLC boosted its holdings in Hubbell by 3.2% in the third quarter. Ballentine Partners LLC now owns 956 shares of the industrial products company’s stock valued at $410,000 after purchasing an additional 30 shares during the period. 88.16% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Hubbell

In other Hubbell news, Director Carlos M. Cardoso sold 450 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $364.54, for a total transaction of $164,043.00. Following the transaction, the director now directly owns 1,670 shares in the company, valued at approximately $608,781.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CEO Gerben Bakker sold 15,677 shares of the business’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $374.34, for a total value of $5,868,528.18. Following the completion of the transaction, the chief executive officer now owns 66,415 shares of the company’s stock, valued at approximately $24,861,791.10. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Carlos M. Cardoso sold 450 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $364.54, for a total transaction of $164,043.00. Following the sale, the director now directly owns 1,670 shares of the company’s stock, valued at $608,781.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.66% of the company’s stock.

Hubbell Stock Performance

HUBB traded up $2.88 during trading on Monday, hitting $428.58. The stock had a trading volume of 44,767 shares, compared to its average volume of 441,073. Hubbell Incorporated has a twelve month low of $274.42 and a twelve month high of $461.77. The firm has a market capitalization of $23.01 billion, a P/E ratio of 30.67, a PEG ratio of 1.59 and a beta of 0.90. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.13 and a current ratio of 1.66. The company’s 50-day moving average price is $421.70 and its 200 day moving average price is $395.81.

Hubbell (NYSE:HUBB) last announced its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $4.49 earnings per share 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 company had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.48 billion. During the same quarter in the previous year, the company earned $3.95 EPS. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. On average, equities research analysts forecast that Hubbell Incorporated will post 16.46 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. Stockholders 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 is a boost from Hubbell’s previous quarterly dividend of $1.22. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.23%. Hubbell’s dividend payout ratio is 35.16%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on HUBB. Wells Fargo & Company raised their price objective on shares of Hubbell from $445.00 to $455.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Mizuho boosted their target price on Hubbell from $450.00 to $490.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. JPMorgan Chase & Co. downgraded shares of Hubbell from an “overweight” rating to a “neutral” rating and boosted their price objective for the stock from $385.00 to $454.00 in a research report on Thursday, October 10th. Morgan Stanley upped their price objective on shares of Hubbell from $407.00 to $445.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Finally, Deutsche Bank Aktiengesellschaft upgraded Hubbell from a “hold” rating to a “buy” rating and lifted their target price for the stock from $431.00 to $441.00 in a research report on Friday, September 6th. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Hubbell has an average rating of “Moderate Buy” and an average target price of $434.38.

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.