Brooklyn Investment Group Takes $133,000 Position in Hubbell Incorporated (NYSE:HUBB)

Brooklyn Investment Group bought a new stake in shares of Hubbell Incorporated (NYSE:HUBB) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 310 shares of the industrial products company’s stock, valued at approximately $133,000.

A number of other large investors have also recently modified their holdings of the stock. IFG Advisory LLC purchased a new position in Hubbell during the 2nd quarter valued at about $475,000. Acadian Asset Management LLC lifted its position in Hubbell by 51.3% during the 2nd quarter. Acadian Asset Management LLC now owns 3,693 shares of the industrial products company’s stock valued at $1,347,000 after acquiring an additional 1,252 shares during the period. Great Valley Advisor Group Inc. lifted its position in Hubbell by 24.6% during the 2nd quarter. Great Valley Advisor Group Inc. now owns 6,873 shares of the industrial products company’s stock valued at $2,511,000 after acquiring an additional 1,359 shares during the period. LGT Capital Partners LTD. purchased a new position in Hubbell during the 3rd quarter valued at about $39,687,000. Finally, DekaBank Deutsche Girozentrale lifted its position in Hubbell by 2.9% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 99,227 shares of the industrial products company’s stock valued at $40,731,000 after acquiring an additional 2,822 shares during the period. Institutional investors own 88.16% of the company’s stock.

Insider Activity at Hubbell

In other Hubbell news, insider Mark Eugene Mikes sold 1,144 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $466.20, for a total value of $533,332.80. Following the completion of the transaction, the insider now directly owns 2,957 shares in the company, valued at $1,378,553.40. This represents a 27.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.78% of the stock is currently owned by company insiders.

Hubbell Stock Down 0.4 %

HUBB opened at $458.81 on Thursday. The company has a quick ratio of 1.05, a current ratio of 1.66 and a debt-to-equity ratio of 0.51. The firm has a 50 day moving average price of $444.28 and a 200-day moving average price of $403.47. Hubbell Incorporated has a twelve month low of $293.91 and a twelve month high of $481.35. The stock has a market capitalization of $24.62 billion, a price-to-earnings ratio of 33.06, a PEG ratio of 1.73 and a beta of 0.90.

Hubbell (NYSE:HUBB) last released its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $4.49 earnings per share for the quarter, beating the consensus estimate of $4.47 by $0.02. Hubbell had a net margin of 13.33% and a return on equity of 28.81%. The firm had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.48 billion. During the same period in the previous year, the company earned $3.95 earnings per share. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. Equities research analysts forecast that Hubbell Incorporated will post 16.47 earnings per share for the current year.

Hubbell Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be given a dividend of $1.32 per share. This represents a $5.28 annualized dividend and a yield of 1.15%. This is a positive change from Hubbell’s previous quarterly dividend of $1.22. The ex-dividend date of this dividend is Friday, November 29th. Hubbell’s payout ratio is 35.16%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on HUBB shares. Barclays lifted their price target on shares of Hubbell from $400.00 to $402.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. cut shares of Hubbell from an “overweight” rating to a “neutral” rating and lifted their target price for the stock from $385.00 to $454.00 in a report on Thursday, October 10th. StockNews.com raised shares of Hubbell from a “hold” rating to a “buy” rating in a report on Monday. Sanford C. Bernstein began coverage on shares of Hubbell in a report on Tuesday, November 5th. They issued an “outperform” rating and a $535.00 target price for the company. Finally, Stephens reaffirmed an “overweight” rating and issued a $450.00 target price on shares of Hubbell in a report on Friday, August 2nd. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $449.11.

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.