Advisors Asset Management Inc. Decreases Holdings in Hubbell Incorporated (NYSE:HUBB)

Advisors Asset Management Inc. reduced its position in Hubbell Incorporated (NYSE:HUBB) by 21.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,648 shares of the industrial products company’s stock after selling 4,116 shares during the period. Advisors Asset Management Inc.’s holdings in Hubbell were worth $6,274,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of HUBB. IFG Advisory LLC purchased a new stake in shares of Hubbell in the 2nd quarter worth about $475,000. Acadian Asset Management LLC grew its holdings in shares of Hubbell by 51.3% during the second 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 in the last quarter. Great Valley Advisor Group Inc. grew its holdings in shares of Hubbell by 24.6% during the second quarter. Great Valley Advisor Group Inc. now owns 6,873 shares of the industrial products company’s stock worth $2,511,000 after buying an additional 1,359 shares in the last quarter. DekaBank Deutsche Girozentrale grew its holdings in shares of Hubbell by 2.9% during the first quarter. DekaBank Deutsche Girozentrale now owns 99,227 shares of the industrial products company’s stock worth $40,731,000 after buying an additional 2,822 shares in the last quarter. Finally, Cetera Advisors LLC purchased a new stake in Hubbell in the first quarter valued at approximately $582,000. 88.16% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Hubbell

In other Hubbell news, insider Mark Eugene Mikes sold 1,144 shares of the stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $466.20, for a total transaction of $533,332.80. Following the sale, the insider now directly owns 2,957 shares of the company’s stock, valued at approximately $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 Securities & Exchange Commission, which is available at the SEC website. 0.66% of the stock is currently owned by corporate insiders.

Hubbell Trading Up 2.8 %

HUBB opened at $458.27 on Friday. The stock has a market capitalization of $24.60 billion, a PE ratio of 33.02, a P/E/G ratio of 1.68 and a beta of 0.90. The firm’s fifty day moving average price is $438.91 and its 200 day moving average price 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 Incorporated has a 12-month low of $293.91 and a 12-month high of $481.35.

Hubbell (NYSE:HUBB) last posted its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $4.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.47 by $0.02. The firm 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 period in the prior year, the company posted $3.95 earnings per share. As a group, research analysts expect 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. Investors of record on Friday, November 29th will be issued a $1.32 dividend. The ex-dividend date is Friday, November 29th. This is a boost from Hubbell’s previous quarterly dividend of $1.22. This represents a $5.28 annualized dividend and a yield of 1.15%. Hubbell’s dividend payout ratio is currently 35.16%.

Analysts Set New Price Targets

HUBB has been the subject of several research reports. Mizuho boosted their price objective on shares of Hubbell from $450.00 to $490.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Barclays boosted their price objective 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 boosted their price objective on shares of Hubbell from $407.00 to $445.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Stephens reiterated an “overweight” rating and set a $450.00 price objective on shares of Hubbell in a research note on Friday, August 2nd. Finally, JPMorgan Chase & Co. cut shares of Hubbell from an “overweight” rating to a “neutral” rating and boosted their target price for the stock from $385.00 to $454.00 in a research report on Thursday, October 10th. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $445.56.

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.