Hubbell Incorporated (NYSE:HUBB) is Otter Creek Advisors LLC’s 6th Largest Position

Otter Creek Advisors LLC boosted its holdings in Hubbell Incorporated (NYSE:HUBB) by 22.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,867 shares of the industrial products company’s stock after purchasing an additional 2,523 shares during the quarter. Hubbell comprises 3.8% of Otter Creek Advisors LLC’s investment portfolio, making the stock its 6th largest holding. Otter Creek Advisors LLC’s holdings in Hubbell were worth $5,940,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. IFG Advisory LLC purchased a new position in Hubbell during the 2nd quarter worth $475,000. Acadian Asset Management LLC raised its position in Hubbell by 51.3% during the 2nd quarter. Acadian Asset Management LLC now owns 3,693 shares of the industrial products company’s stock worth $1,347,000 after buying an additional 1,252 shares during the last quarter. Great Valley Advisor Group Inc. grew its stake in shares of Hubbell by 24.6% during the 2nd quarter. Great Valley Advisor Group Inc. now owns 6,873 shares of the industrial products company’s stock worth $2,511,000 after purchasing an additional 1,359 shares during the period. DekaBank Deutsche Girozentrale grew its stake in shares of Hubbell by 2.9% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 99,227 shares of the industrial products company’s stock worth $40,731,000 after purchasing an additional 2,822 shares during the period. Finally, Cetera Advisors LLC acquired a new position in shares of Hubbell during the 1st quarter worth $582,000. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on HUBB shares. Stephens reaffirmed an “overweight” rating and set a $450.00 price target on shares of Hubbell in a research note on Friday, August 2nd. Deutsche Bank Aktiengesellschaft raised shares of Hubbell from a “hold” rating to a “buy” rating and upped their price target for the stock from $431.00 to $441.00 in a research note on Friday, September 6th. Barclays upped their price target on shares of Hubbell from $400.00 to $402.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Morgan Stanley increased their price objective 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. Finally, JPMorgan Chase & Co. cut shares of Hubbell from an “overweight” rating to a “neutral” rating and increased their price objective for the company from $385.00 to $454.00 in a research note on Thursday, October 10th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $445.56.

Insider Transactions at Hubbell

In related news, insider Mark Eugene Mikes sold 1,144 shares of the firm’s 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 in the company, valued at approximately $1,378,553.40. This trade represents a 27.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.66% of the company’s stock.

Hubbell Price Performance

Hubbell stock opened at $458.27 on Friday. Hubbell Incorporated has a 12-month low of $293.91 and a 12-month high of $481.35. The stock has a market capitalization of $24.60 billion, a P/E ratio of 33.02, a P/E/G ratio of 1.68 and a beta of 0.90. The firm’s 50-day moving average is $438.91 and its two-hundred day moving average is $401.31. 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 (NYSE:HUBB) last announced its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $4.49 earnings per share for the quarter, topping the consensus estimate of $4.47 by $0.02. The business had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.48 billion. Hubbell had a net margin of 13.33% and a return on equity of 28.81%. The company’s revenue was up 4.9% on a year-over-year basis. During the same period in the prior year, the firm posted $3.95 EPS. Equities analysts predict that Hubbell Incorporated will post 16.47 earnings per share for the current year.

Hubbell Increases Dividend

The business also recently disclosed 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 positive change from Hubbell’s previous quarterly dividend of $1.22. This represents a $5.28 annualized dividend and a dividend yield of 1.15%. The ex-dividend date is Friday, November 29th. Hubbell’s dividend 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.