Rhumbline Advisers Grows Position in Hubbell Incorporated (NYSE:HUBB)

Rhumbline Advisers grew its stake in shares of Hubbell Incorporated (NYSE:HUBBGet Rating) by 8.1% in the second quarter, HoldingsChannel.com reports. The firm owned 155,014 shares of the industrial products company’s stock after buying an additional 11,590 shares during the quarter. Rhumbline Advisers’ holdings in Hubbell were worth $27,682,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in HUBB. Steward Partners Investment Advisory LLC boosted its stake in shares of Hubbell by 7.6% during the first quarter. Steward Partners Investment Advisory LLC now owns 1,340 shares of the industrial products company’s stock valued at $246,000 after purchasing an additional 95 shares during the period. FDx Advisors Inc. raised its holdings in Hubbell by 3.2% in the first quarter. FDx Advisors Inc. now owns 1,742 shares of the industrial products company’s stock worth $320,000 after purchasing an additional 54 shares in the last quarter. Arizona State Retirement System increased its holdings in shares of Hubbell by 0.5% during the first quarter. Arizona State Retirement System now owns 14,708 shares of the industrial products company’s stock valued at $2,703,000 after acquiring an additional 72 shares in the last quarter. Envestnet Asset Management Inc. increased its holdings in shares of Hubbell by 1.6% during the first quarter. Envestnet Asset Management Inc. now owns 40,773 shares of the industrial products company’s stock valued at $7,493,000 after acquiring an additional 628 shares in the last quarter. Finally, Stephens Inc. AR bought a new position in shares of Hubbell during the first quarter valued at $535,000. Hedge funds and other institutional investors own 88.91% of the company’s stock.

Hubbell Trading Down 1.2 %

Hubbell stock opened at $256.08 on Thursday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.88 and a quick ratio of 1.18. Hubbell Incorporated has a one year low of $170.21 and a one year high of $261.58. The stock has a market capitalization of $13.75 billion, a PE ratio of 24.91, a price-to-earnings-growth ratio of 2.49 and a beta of 1.04. The business’s fifty day moving average is $233.21 and its 200 day moving average is $210.65.

Hubbell (NYSE:HUBBGet Rating) last announced its earnings results on Tuesday, October 25th. The industrial products company reported $3.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.73 by $0.35. The business had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.25 billion. Hubbell had a return on equity of 24.17% and a net margin of 11.57%. On average, sell-side analysts predict that Hubbell Incorporated will post 10.41 EPS for the current year.

Hubbell Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Wednesday, November 30th will be given a $1.12 dividend. This represents a $4.48 annualized dividend and a yield of 1.75%. This is a boost from Hubbell’s previous quarterly dividend of $1.05. The ex-dividend date of this dividend is Tuesday, November 29th. Hubbell’s dividend payout ratio (DPR) is presently 40.86%.

Insiders Place Their Bets

In other Hubbell news, CFO William R. Sperry sold 18,878 shares of the firm’s stock in a transaction dated Friday, October 28th. The stock was sold at an average price of $239.69, for a total value of $4,524,867.82. Following the transaction, the chief financial officer now directly owns 46,292 shares of the company’s stock, valued at $11,095,729.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.82% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on HUBB. UBS Group raised their price target on Hubbell from $200.00 to $254.00 and gave the company a “neutral” rating in a report on Thursday, November 17th. JPMorgan Chase & Co. downgraded Hubbell from an “overweight” rating to an “underweight” rating and set a $200.00 price target for the company. in a report on Wednesday, October 19th. They noted that the move was a valuation call. StockNews.com cut Hubbell from a “strong-buy” rating to a “buy” rating in a research report on Thursday, October 6th. Morgan Stanley increased their price objective on Hubbell from $219.00 to $226.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 26th. Finally, Wells Fargo & Company increased their price objective on Hubbell from $196.00 to $215.00 and gave the company an “equal weight” rating in a research report on Thursday, October 27th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $229.40.

Hubbell Profile

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Hubbell Incorporated, together with its subsidiaries, designs, manufactures, and sells electrical and electronic products in the United States and internationally. It operates through two segments, Electrical Solution and Utility Solution. 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 for the natural gas distribution market.

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Institutional Ownership by Quarter for Hubbell (NYSE:HUBB)

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