Hubbell Incorporated (NYSE:HUBB) Shares Sold by Bank of Montreal Can

Bank of Montreal Can reduced its stake in shares of Hubbell Incorporated (NYSE:HUBB) by 1.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 225,840 shares of the industrial products company’s stock after selling 3,903 shares during the period. Bank of Montreal Can’s holdings in Hubbell were worth $96,768,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Mizuho Securities USA LLC increased 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 buying an additional 7,975,855 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Hubbell by 16.7% in the 2nd 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 acquiring an additional 291,850 shares in the last quarter. International Assets Investment Management LLC increased its holdings in shares of Hubbell by 42,735.0% in the 3rd 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 acquiring an additional 1,915,383 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of Hubbell by 6.2% during the 3rd 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 acquiring an additional 82,258 shares in the last quarter. Finally, Impax Asset Management Group plc lifted its stake in Hubbell by 30.3% during the third quarter. Impax Asset Management Group plc now owns 1,202,455 shares of the industrial products company’s stock worth $514,377,000 after purchasing an additional 279,654 shares during the last quarter. Institutional investors own 88.16% of the company’s stock.

Hubbell Price Performance

Shares of NYSE HUBB opened at $460.55 on Wednesday. The stock has a market cap of $24.72 billion, a P/E ratio of 33.18, a P/E/G ratio of 1.71 and a beta of 0.90. The firm’s 50-day simple moving average is $443.30 and its 200 day simple moving average is $403.08. Hubbell Incorporated has a fifty-two week low of $293.91 and a fifty-two week high of $481.35. The company has a quick ratio of 1.05, a current ratio of 1.66 and a debt-to-equity ratio of 0.51.

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

Hubbell Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be given a $1.32 dividend. This represents a $5.28 dividend on an annualized basis and a yield of 1.15%. This is an increase from Hubbell’s previous quarterly dividend of $1.22. The ex-dividend date is Friday, November 29th. Hubbell’s dividend payout ratio is 38.04%.

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. 0.66% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Morgan Stanley boosted their target price on shares of Hubbell from $407.00 to $445.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Wells Fargo & Company increased their price objective on shares of Hubbell from $445.00 to $455.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. downgraded Hubbell from an “overweight” rating to a “neutral” rating and lifted their target price for the company from $385.00 to $454.00 in a research note on Thursday, October 10th. StockNews.com upgraded Hubbell from a “hold” rating to a “buy” rating in a research report on Monday. Finally, Stephens reiterated an “overweight” rating and issued a $450.00 target price on shares of Hubbell in a research note on Friday, August 2nd. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Hubbell has an average rating of “Moderate Buy” and a consensus price target of $449.11.

Hubbell Company 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.