ING Groep NV Sells 7,045 Shares of Hubbell Incorporated (NYSE:HUBB)

ING Groep NV decreased its stake in shares of Hubbell Incorporated (NYSE:HUBB) by 57.6% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,179 shares of the industrial products company’s stock after selling 7,045 shares during the quarter. ING Groep NV’s holdings in Hubbell were worth $2,218,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in HUBB. Ashton Thomas Securities LLC bought a new stake in Hubbell in the third quarter worth $41,000. Quarry LP purchased a new stake in Hubbell in the 2nd quarter valued at about $49,000. Northwest Investment Counselors LLC bought a new position in Hubbell in the third quarter worth approximately $58,000. Ashton Thomas Private Wealth LLC purchased a new position in Hubbell during the 2nd quarter valued at about $62,000. Finally, Massmutual Trust Co. FSB ADV increased its holdings in Hubbell by 23.5% during the second quarter. Massmutual Trust Co. FSB ADV now owns 184 shares of the industrial products company’s stock valued at $67,000 after buying an additional 35 shares during the period. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Insider Transactions at Hubbell

In other news, insider Mark Eugene Mikes sold 1,144 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 2,957 shares in the company, valued at approximately $1,378,553.40. The trade was a 27.90 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.66% of the company’s stock.

Analyst Ratings Changes

HUBB has been the topic of a number of research analyst reports. Morgan Stanley boosted their price target on Hubbell from $407.00 to $445.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Stephens reiterated an “overweight” rating and issued a $450.00 price objective on shares of Hubbell in a research report on Friday, August 2nd. StockNews.com raised shares of Hubbell from a “hold” rating to a “buy” rating in a research note on Thursday. Barclays increased their target price on Hubbell from $400.00 to $402.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Finally, Mizuho raised their price target on shares of Hubbell from $450.00 to $490.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Hubbell has a consensus rating of “Moderate Buy” and a consensus price target of $445.56.

Hubbell Stock Down 0.6 %

Hubbell stock opened at $437.61 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.66 and a quick ratio of 1.05. Hubbell Incorporated has a 1-year low of $287.06 and a 1-year high of $481.35. The company has a market cap of $23.49 billion, a PE ratio of 31.53, a price-to-earnings-growth ratio of 1.69 and a beta of 0.90. The stock’s 50 day moving average price is $435.08 and its 200 day moving average price is $399.60.

Hubbell (NYSE:HUBB) last announced its earnings results on Tuesday, October 29th. The industrial products company reported $4.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.47 by $0.02. Hubbell had a net margin of 13.33% and a return on equity of 28.81%. The company had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.48 billion. During the same quarter in the previous year, the business posted $3.95 earnings per share. The firm’s quarterly revenue was up 4.9% compared to the same quarter last year. On average, sell-side analysts predict that Hubbell Incorporated will post 16.47 EPS for the current fiscal year.

Hubbell Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be issued a $1.32 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $5.28 dividend on an annualized basis and a yield of 1.21%. This is a boost from Hubbell’s previous quarterly dividend of $1.22. Hubbell’s dividend payout ratio (DPR) 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.