Public Sector Pension Investment Board Boosts Stock Holdings in Hubbell Incorporated (NYSE:HUBB)

Public Sector Pension Investment Board boosted its stake in Hubbell Incorporated (NYSE:HUBB) by 14.6% during the 3rd quarter, Holdings Channel reports. The firm owned 2,348 shares of the industrial products company’s stock after buying an additional 300 shares during the quarter. Public Sector Pension Investment Board’s holdings in Hubbell were worth $1,006,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in HUBB. Prospera Private Wealth LLC purchased a new position in shares of Hubbell in the third quarter valued at $33,000. Ashton Thomas Securities LLC purchased a new stake in Hubbell during the third quarter valued at $41,000. Quarry LP bought a new position in Hubbell during the second quarter valued at $49,000. Northwest Investment Counselors LLC purchased a new position in shares of Hubbell in the 3rd quarter worth $58,000. Finally, Ashton Thomas Private Wealth LLC bought a new stake in shares of Hubbell in the 2nd quarter worth about $62,000. Institutional investors own 88.16% of the company’s stock.

Insider Transactions at Hubbell

In related news, insider Mark Eugene Mikes sold 1,144 shares of the business’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 completion of the transaction, the insider now owns 2,957 shares of the company’s stock, valued at $1,378,553.40. The trade was a 27.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.66% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on HUBB. Deutsche Bank Aktiengesellschaft lowered Hubbell from a “buy” rating to a “hold” rating and dropped their price target for the stock from $493.00 to $473.00 in a research report on Tuesday, November 26th. StockNews.com downgraded Hubbell from a “buy” rating to a “hold” rating in a research report on Tuesday, December 3rd. Sanford C. Bernstein began coverage on Hubbell in a report on Tuesday, November 5th. They set an “outperform” rating and a $535.00 price target on the stock. Barclays lifted their price objective on shares of Hubbell from $402.00 to $475.00 and gave the stock an “equal weight” rating in a research note on Thursday. Finally, JPMorgan Chase & Co. downgraded shares of Hubbell from an “overweight” rating to a “neutral” rating and increased their target price for the company from $385.00 to $454.00 in a research note on Thursday, October 10th. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $457.22.

Hubbell Stock Down 1.1 %

Shares of NYSE:HUBB opened at $461.97 on Friday. The business’s 50 day moving average is $449.29 and its 200 day moving average is $406.54. The stock has a market cap of $24.79 billion, a P/E ratio of 33.28, a price-to-earnings-growth ratio of 1.75 and a beta of 0.91. Hubbell Incorporated has a 52-week low of $303.06 and a 52-week 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 posted its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $4.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.47 by $0.02. The business had revenue of $1.44 billion for 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 business’s revenue was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.95 EPS. Sell-side analysts predict that Hubbell Incorporated will post 16.47 EPS for the current year.

Hubbell Increases Dividend

The firm 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 $1.32 dividend. The ex-dividend date is Friday, November 29th. This represents a $5.28 annualized dividend and a dividend yield of 1.14%. This is a positive change from Hubbell’s previous quarterly dividend of $1.22. Hubbell’s payout ratio is currently 38.04%.

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.