Hubbell Incorporated (NYSE:HUBB) Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its holdings in shares of Hubbell Incorporated (NYSE:HUBB) by 10.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 222,599 shares of the industrial products company’s stock after selling 24,966 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.41% of Hubbell worth $95,350,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. OLD National Bancorp IN lifted its position in Hubbell by 3.8% during the third quarter. OLD National Bancorp IN now owns 596 shares of the industrial products company’s stock valued at $255,000 after purchasing an additional 22 shares during the period. CWM LLC boosted its stake in shares of Hubbell by 2.2% in the second quarter. CWM LLC now owns 1,319 shares of the industrial products company’s stock worth $482,000 after buying an additional 28 shares during the last quarter. Avestar Capital LLC grew its holdings in Hubbell by 5.1% during the third quarter. Avestar Capital LLC now owns 577 shares of the industrial products company’s stock worth $247,000 after acquiring an additional 28 shares during the period. Detalus Advisors LLC raised its position in Hubbell by 3.0% during the second quarter. Detalus Advisors LLC now owns 1,030 shares of the industrial products company’s stock valued at $377,000 after acquiring an additional 30 shares in the last quarter. Finally, Ballentine Partners LLC lifted its holdings in Hubbell by 3.2% in the third quarter. Ballentine Partners LLC now owns 956 shares of the industrial products company’s stock valued at $410,000 after acquiring an additional 30 shares during the period. 88.16% of the stock is owned by hedge funds and other institutional investors.

Hubbell Stock Performance

NYSE HUBB opened at $460.09 on Monday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.66 and a quick ratio of 1.05. Hubbell Incorporated has a 1-year low of $295.60 and a 1-year high of $481.35. The company has a market cap of $24.69 billion, a PE ratio of 33.15, a price-to-earnings-growth ratio of 1.71 and a beta of 0.90. The stock’s 50 day simple moving average is $445.68 and its 200-day simple moving average is $404.28.

Hubbell (NYSE:HUBB) last announced its earnings results on Tuesday, October 29th. The industrial products company reported $4.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.47 by $0.02. The company had revenue of $1.44 billion for 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%. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.95 EPS. As a group, equities research analysts anticipate that Hubbell Incorporated will post 16.47 EPS for the current fiscal year.

Hubbell Increases Dividend

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

Insider Activity at Hubbell

In other Hubbell news, insider Mark Eugene Mikes sold 1,144 shares of the company’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $466.20, for a total value of $533,332.80. Following the completion of the sale, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on HUBB shares. JPMorgan Chase & Co. lowered shares of 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 report on Thursday, October 10th. StockNews.com upgraded shares of Hubbell from a “hold” rating to a “buy” rating in a research report on Monday, November 25th. Morgan Stanley raised their target price on Hubbell from $407.00 to $445.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Wells Fargo & Company upped their price target on Hubbell from $445.00 to $455.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Finally, Sanford C. Bernstein began coverage on Hubbell in a report on Tuesday, November 5th. They issued an “outperform” rating and a $535.00 price objective on the stock. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average 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.