Hubbell Incorporated (NYSE:HUBB) Shares Sold by Camden National Bank

Camden National Bank lowered its stake in Hubbell Incorporated (NYSE:HUBB) by 3.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,502 shares of the industrial products company’s stock after selling 91 shares during the quarter. Camden National Bank’s holdings in Hubbell were worth $1,072,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in HUBB. Prospera Private Wealth LLC bought a new stake in shares of Hubbell in the 3rd quarter worth $33,000. Ashton Thomas Securities LLC acquired a new position in Hubbell during the third quarter worth about $41,000. Quarry LP bought a new stake in Hubbell in the second quarter worth about $49,000. Northwest Investment Counselors LLC bought a new stake in Hubbell in the third quarter worth about $58,000. Finally, GAMMA Investing LLC lifted its holdings in Hubbell by 84.7% in the 3rd quarter. GAMMA Investing LLC now owns 157 shares of the industrial products company’s stock valued at $67,000 after acquiring an additional 72 shares during the last quarter. 88.16% of the stock is owned by institutional investors.

Analysts Set New Price Targets

HUBB has been the topic of a number of research reports. Sanford C. Bernstein assumed coverage on shares of Hubbell in a report on Tuesday, November 5th. They issued an “outperform” rating and a $535.00 target price on the stock. Morgan Stanley increased their price objective on Hubbell from $407.00 to $445.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. StockNews.com raised Hubbell from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th. Barclays lifted their price target on Hubbell from $400.00 to $402.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Finally, JPMorgan Chase & Co. lowered shares of Hubbell from an “overweight” rating to a “neutral” rating and boosted their price target for the company from $385.00 to $454.00 in a report on Thursday, October 10th. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $445.56.

Insiders Place Their Bets

In related news, insider Mark Eugene Mikes sold 1,144 shares of the company’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $466.20, for a total transaction of $533,332.80. Following the completion of the sale, the insider now directly owns 2,957 shares of the company’s stock, valued at approximately $1,378,553.40. This represents a 27.90 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.66% of the company’s stock.

Hubbell Trading Up 0.9 %

NYSE HUBB opened at $460.81 on Friday. The company has a current ratio of 1.66, a quick ratio of 1.05 and a debt-to-equity ratio of 0.51. Hubbell Incorporated has a 1-year low of $293.91 and a 1-year high of $481.35. The firm’s fifty day simple moving average is $440.09 and its 200-day simple moving average is $401.71. The company 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 posted its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $4.49 earnings per share for the quarter, topping analysts’ consensus estimates of $4.47 by $0.02. The company had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.48 billion. Hubbell had a return on equity of 28.81% and a net margin of 13.33%. The business’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period last year, the business earned $3.95 EPS. As a group, sell-side analysts anticipate that Hubbell Incorporated will post 16.47 earnings per share 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 issued a $1.32 dividend. 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 yield of 1.15%. Hubbell’s dividend payout ratio is currently 35.16%.

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.