Quantinno Capital Management LP Grows Stock Holdings in Hubbell Incorporated (NYSE:HUBB)

Quantinno Capital Management LP grew its holdings in Hubbell Incorporated (NYSE:HUBB) by 12.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,829 shares of the industrial products company’s stock after acquiring an additional 750 shares during the period. Quantinno Capital Management LP’s holdings in Hubbell were worth $2,926,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Prospera Private Wealth LLC purchased a new position in Hubbell in the third quarter valued at about $33,000. Ashton Thomas Securities LLC acquired a new stake in shares of Hubbell in the third quarter valued at about $41,000. Quarry LP purchased a new stake in shares of Hubbell during the 2nd quarter valued at about $49,000. Northwest Investment Counselors LLC acquired a new position in Hubbell during the 3rd quarter worth approximately $58,000. Finally, Ashton Thomas Private Wealth LLC purchased a new position in Hubbell in the 2nd quarter worth approximately $62,000. Institutional investors and hedge funds own 88.16% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on HUBB shares. Mizuho lifted their price objective on shares of Hubbell from $450.00 to $490.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Wells Fargo & Company boosted their price objective on shares of Hubbell from $445.00 to $455.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. StockNews.com lowered Hubbell from a “buy” rating to a “hold” rating in a research note on Tuesday, December 3rd. Morgan Stanley increased their target price on Hubbell from $407.00 to $445.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Finally, Barclays upped their price target on shares of Hubbell from $402.00 to $475.00 and gave the company an “equal weight” rating in a report on Thursday, December 5th. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $472.13.

Insider Activity

In other news, insider Mark Eugene Mikes sold 1,144 shares of Hubbell 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 transaction, the insider now owns 2,957 shares of the company’s stock, valued at $1,378,553.40. The trade was a 27.90 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.78% of the company’s stock.

Hubbell Stock Performance

HUBB stock opened at $452.61 on Tuesday. The stock’s fifty day moving average is $449.78 and its two-hundred day moving average is $406.94. The stock has a market capitalization of $24.29 billion, a price-to-earnings ratio of 32.61, a PEG ratio of 1.72 and a beta of 0.91. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.05 and a current ratio of 1.66. Hubbell Incorporated has a 1 year low of $306.92 and a 1 year high of $481.35.

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

Hubbell Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be given a dividend of $1.32 per share. This represents a $5.28 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date is Friday, November 29th. This is a positive change from Hubbell’s previous quarterly dividend of $1.22. Hubbell’s payout ratio is 38.04%.

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.