Metis Global Partners LLC Increases Stake in Hubbell Incorporated (NYSE:HUBB)

Metis Global Partners LLC grew its stake in shares of Hubbell Incorporated (NYSE:HUBB) by 52.7% in the third quarter, HoldingsChannel.com reports. The firm owned 2,578 shares of the industrial products company’s stock after buying an additional 890 shares during the quarter. Metis Global Partners LLC’s holdings in Hubbell were worth $1,104,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in HUBB. Ashton Thomas Securities LLC purchased a new stake in Hubbell during the 3rd quarter valued at $41,000. Quarry LP bought a new position in shares of Hubbell during the second quarter valued at about $49,000. Northwest Investment Counselors LLC purchased a new stake in shares of Hubbell during the third quarter worth about $58,000. GAMMA Investing LLC grew its stake in shares of Hubbell by 84.7% in the third quarter. GAMMA Investing LLC now owns 157 shares of the industrial products company’s stock worth $67,000 after purchasing an additional 72 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC purchased a new position in Hubbell during the 2nd quarter valued at about $62,000. Institutional investors own 88.16% of the company’s stock.

Hubbell Stock Down 0.6 %

HUBB stock opened at $437.61 on Friday. The business has a 50 day moving average of $435.08 and a 200 day moving average of $399.60. The firm has a market cap of $23.49 billion, a PE ratio of 31.53, a price-to-earnings-growth ratio of 1.69 and a beta of 0.90. Hubbell Incorporated has a twelve month low of $287.06 and a twelve month 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 issued its quarterly 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. The firm had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.48 billion. Hubbell had a return on equity of 28.81% and a net margin of 13.33%. The company’s revenue was up 4.9% on a year-over-year basis. During the same period last year, the company earned $3.95 earnings per share. On average, research analysts forecast that Hubbell Incorporated will post 16.47 EPS for the current fiscal year.

Hubbell Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be issued a dividend of $1.32 per share. This is a boost from Hubbell’s previous quarterly dividend of $1.22. The ex-dividend date of this dividend is Friday, November 29th. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.21%. Hubbell’s dividend payout ratio is presently 35.16%.

Analyst Upgrades and Downgrades

Several brokerages have commented on HUBB. Mizuho upped their price objective on shares of Hubbell from $450.00 to $490.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Sanford C. Bernstein assumed coverage on shares of Hubbell in a research note on Tuesday, November 5th. They issued an “outperform” rating and a $535.00 price target for the company. Barclays lifted their price objective on Hubbell from $400.00 to $402.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Wells Fargo & Company increased their target price on Hubbell from $445.00 to $455.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Finally, StockNews.com upgraded Hubbell from a “hold” rating to a “buy” rating in a research report on Thursday. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $445.56.

Insider Activity

In other 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 transaction of $533,332.80. Following the transaction, the insider now directly owns 2,957 shares of the company’s stock, valued at $1,378,553.40. This represents a 27.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.66% of the company’s stock.

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.