Wilmington Savings Fund Society FSB Buys New Shares in Hubbell Incorporated (NYSE:HUBB)

Wilmington Savings Fund Society FSB bought a new stake in Hubbell Incorporated (NYSE:HUBB) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 576 shares of the industrial products company’s stock, valued at approximately $247,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Mizuho Securities USA LLC boosted its holdings in Hubbell by 192,421.1% in the third quarter. Mizuho Securities USA LLC now owns 7,980,000 shares of the industrial products company’s stock valued at $3,418,233,000 after purchasing an additional 7,975,855 shares during the period. State Street Corp boosted its holdings in Hubbell by 1.1% in the third quarter. State Street Corp now owns 2,092,215 shares of the industrial products company’s stock valued at $896,200,000 after purchasing an additional 22,507 shares during the period. Bank of New York Mellon Corp boosted its holdings in Hubbell by 16.7% in the second quarter. Bank of New York Mellon Corp now owns 2,035,596 shares of the industrial products company’s stock valued at $743,970,000 after purchasing an additional 291,850 shares during the period. International Assets Investment Management LLC boosted its holdings in Hubbell by 42,735.0% in the third quarter. International Assets Investment Management LLC now owns 1,919,865 shares of the industrial products company’s stock valued at $8,223,740,000 after purchasing an additional 1,915,383 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its holdings in Hubbell by 6.2% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,417,476 shares of the industrial products company’s stock valued at $607,176,000 after purchasing an additional 82,258 shares during the period. 88.16% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

HUBB has been the subject of a number of recent research reports. Wells Fargo & Company lifted their target price on Hubbell from $445.00 to $455.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Morgan Stanley lifted their price target on Hubbell from $407.00 to $445.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Mizuho lifted their price target on Hubbell from $450.00 to $490.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Deutsche Bank Aktiengesellschaft downgraded Hubbell from a “buy” rating to a “hold” rating and decreased their price target for the stock from $493.00 to $473.00 in a report on Tuesday, November 26th. Finally, StockNews.com downgraded Hubbell from a “buy” rating to a “hold” rating in a report on Tuesday, December 3rd. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $472.13.

Insider Activity at Hubbell

In related news, insider Mark Eugene Mikes sold 1,144 shares of the business’s stock in a transaction dated Thursday, November 7th. The stock was 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 in the company, valued at $1,378,553.40. The trade was a 27.90 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.66% of the stock is currently owned by insiders.

Hubbell Stock Down 3.6 %

Hubbell stock opened at $439.33 on Wednesday. Hubbell Incorporated has a fifty-two week low of $315.38 and a fifty-two week high of $481.35. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.05 and a current ratio of 1.66. The company has a market capitalization of $23.58 billion, a P/E ratio of 31.65, a PEG ratio of 1.70 and a beta of 0.91. The stock has a 50-day simple moving average of $452.20 and a 200-day simple moving average of $408.82.

Hubbell (NYSE:HUBB) last posted its earnings results 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 return on equity of 28.81% and a net margin of 13.33%. The business had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same period in the previous year, the business earned $3.95 EPS. The business’s quarterly revenue was up 4.9% on a year-over-year basis. Equities research analysts expect that Hubbell Incorporated will post 16.47 earnings per share for the current year.

Hubbell Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were issued a $1.32 dividend. This is an increase from Hubbell’s previous quarterly dividend of $1.22. This represents a $5.28 annualized dividend and a dividend yield of 1.20%. The ex-dividend date of this dividend was Friday, November 29th. Hubbell’s payout ratio is presently 38.04%.

About Hubbell

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.