Hubbell Incorporated (NYSE:HUBB) Stock Position Lifted by Paloma Partners Management Co

Paloma Partners Management Co boosted its stake in Hubbell Incorporated (NYSE:HUBB) by 53.8% in the third quarter, Holdings Channel reports. The institutional investor owned 6,000 shares of the industrial products company’s stock after acquiring an additional 2,100 shares during the quarter. Paloma Partners Management Co’s holdings in Hubbell were worth $2,570,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. IFG Advisory LLC purchased a new stake in shares of Hubbell during the second quarter worth $475,000. Acadian Asset Management LLC raised its stake in shares of 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 purchasing an additional 1,252 shares in the last quarter. Great Valley Advisor Group Inc. lifted its holdings 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 valued at $2,511,000 after buying an additional 1,359 shares during the last quarter. LGT Capital Partners LTD. bought a new stake in shares of Hubbell in the 3rd quarter valued at approximately $39,687,000. Finally, Cetera Advisors LLC acquired a new position in Hubbell in the first quarter worth approximately $582,000. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Insiders Place Their Bets

In other Hubbell news, insider Mark Eugene Mikes sold 1,144 shares of the firm’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $466.20, for a total transaction of $533,332.80. Following the completion of the transaction, the insider now owns 2,957 shares in the company, valued at $1,378,553.40. This trade 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 this link. Corporate insiders own 0.66% of the company’s stock.

Hubbell Trading Up 0.3 %

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

Hubbell (NYSE:HUBB) last issued 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. Hubbell had a return on equity of 28.81% and a net margin of 13.33%. The firm had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.48 billion. During the same period in the previous year, the company posted $3.95 earnings per share. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. As a group, sell-side analysts predict 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. Investors of record on Friday, November 29th will be given a $1.32 dividend. 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%. The ex-dividend date is Friday, November 29th. Hubbell’s dividend payout ratio (DPR) is 35.16%.

Wall Street Analysts Forecast Growth

Several research firms have commented on HUBB. Barclays boosted their target price on shares of Hubbell from $400.00 to $402.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Wells Fargo & Company boosted their price target on Hubbell from $445.00 to $455.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. lowered 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 report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft downgraded Hubbell from a “buy” rating to a “hold” rating and cut their price objective for the company from $493.00 to $473.00 in a research note on Tuesday, November 26th. Finally, Mizuho upped their target price on Hubbell from $450.00 to $490.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, Hubbell currently has a consensus 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.