300 Shares in Hubbell Incorporated (NYSE:HUBB) Acquired by Pittenger & Anderson Inc.

Pittenger & Anderson Inc. acquired a new position in Hubbell Incorporated (NYSE:HUBB) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 300 shares of the industrial products company’s stock, valued at approximately $129,000.

Other hedge funds also recently added to or reduced their stakes in the company. International Assets Investment Management LLC boosted its position in shares of 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 worth $8,223,740,000 after buying an additional 1,915,383 shares during the period. Impax Asset Management Group plc boosted its position in shares of Hubbell by 53.8% during the second quarter. Impax Asset Management Group plc now owns 922,801 shares of the industrial products company’s stock worth $336,984,000 after buying an additional 322,728 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Hubbell by 16.7% during 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 buying an additional 291,850 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of Hubbell by 16.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,980,456 shares of the industrial products company’s stock worth $821,989,000 after buying an additional 286,134 shares during the period. Finally, Ceredex Value Advisors LLC boosted its position in shares of Hubbell by 60.9% during the second quarter. Ceredex Value Advisors LLC now owns 204,720 shares of the industrial products company’s stock worth $74,821,000 after buying an additional 77,500 shares during the period. 88.16% of the stock is currently owned by hedge funds and other institutional investors.

Hubbell Stock Up 3.5 %

Hubbell stock opened at $439.89 on Wednesday. Hubbell Incorporated has a 1-year low of $274.42 and a 1-year high of $461.77. 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 stock has a market cap of $23.61 billion, a PE ratio of 31.69, a P/E/G ratio of 1.58 and a beta of 0.90. The stock’s fifty day moving average is $423.54 and its two-hundred day moving average is $396.41.

Hubbell (NYSE:HUBB) last posted its earnings results on Tuesday, October 29th. The industrial products company reported $4.49 EPS for the quarter, topping 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 business had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.48 billion. During the same quarter in the previous year, the firm earned $3.95 earnings per share. The business’s revenue was up 4.9% compared to the same quarter last year. On average, sell-side analysts expect 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. Stockholders of record on Friday, November 29th will be given a dividend of $1.32 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.20%. This is a boost from Hubbell’s previous quarterly dividend of $1.22. Hubbell’s payout ratio is 38.04%.

Insider Transactions at Hubbell

In other news, CEO Gerben Bakker sold 15,677 shares of Hubbell stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $374.34, for a total transaction of $5,868,528.18. Following the sale, the chief executive officer now owns 66,415 shares in the company, valued at approximately $24,861,791.10. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.78% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on HUBB. Wells Fargo & Company increased their price objective on Hubbell from $445.00 to $455.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Barclays increased their price objective on Hubbell from $400.00 to $402.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. cut Hubbell from an “overweight” rating to a “neutral” rating and increased their price objective for the company from $385.00 to $454.00 in a research note on Thursday, October 10th. Stephens reiterated an “overweight” rating and issued a $450.00 price objective on shares of Hubbell in a research note on Friday, August 2nd. Finally, Mizuho increased their price objective on Hubbell from $450.00 to $490.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $445.56.

Hubbell 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.