1,768 Shares in Hubbell Incorporated (NYSE:HUBB) Acquired by MidAtlantic Capital Management Inc.

MidAtlantic Capital Management Inc. acquired a new position in shares of Hubbell Incorporated (NYSE:HUBB) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 1,768 shares of the industrial products company’s stock, valued at approximately $757,000.

Several other hedge funds and other institutional investors have also bought and sold shares of HUBB. Ashton Thomas Securities LLC bought a new position in Hubbell during the 3rd quarter worth approximately $41,000. Quarry LP bought a new position in Hubbell in the second quarter valued at approximately $49,000. Northwest Investment Counselors LLC bought a new position in Hubbell in the third quarter valued at approximately $58,000. Ashton Thomas Private Wealth LLC bought a new position in Hubbell in the second quarter valued at approximately $62,000. Finally, Massmutual Trust Co. FSB ADV lifted its stake in Hubbell by 23.5% in the second quarter. Massmutual Trust Co. FSB ADV now owns 184 shares of the industrial products company’s stock valued at $67,000 after buying an additional 35 shares in the last quarter. Institutional investors own 88.16% of the company’s stock.

Insider Buying and Selling

In other Hubbell news, insider Mark Eugene Mikes sold 1,144 shares of the company’s stock in a transaction 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 directly owns 2,957 shares in the company, valued at $1,378,553.40. The trade was a 27.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.66% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

HUBB has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft raised shares of Hubbell from a “hold” rating to a “buy” rating and lifted their price target for the company from $431.00 to $441.00 in a research note on Friday, September 6th. JPMorgan Chase & Co. lowered shares of Hubbell from an “overweight” rating to a “neutral” rating and lifted their price target for the company from $385.00 to $454.00 in a research note on Thursday, October 10th. Morgan Stanley lifted their price target 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. Stephens reaffirmed an “overweight” rating and issued a $450.00 price target on shares of Hubbell in a research note on Friday, August 2nd. Finally, Barclays lifted their price target on shares of Hubbell from $400.00 to $402.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $445.56.

Hubbell Price Performance

NYSE HUBB opened at $437.51 on Monday. The company has a market capitalization of $23.48 billion, a PE ratio of 31.53, a price-to-earnings-growth ratio of 1.63 and a beta of 0.90. Hubbell Incorporated has a 12-month low of $293.91 and a 12-month high of $481.35. The firm’s 50 day moving average is $435.08 and its 200-day moving average is $399.80. 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 issued its earnings results on Tuesday, October 29th. The industrial products company reported $4.49 earnings per share 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 net margin of 13.33% and a return on equity of 28.81%. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period in the previous year, the company earned $3.95 earnings per share. Equities research analysts anticipate that Hubbell Incorporated will post 16.47 earnings per share for the current fiscal 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 issued a dividend of $1.32 per share. This represents a $5.28 dividend on an annualized basis and a yield of 1.21%. This is an increase from Hubbell’s previous quarterly dividend of $1.22. The ex-dividend date is Friday, November 29th. Hubbell’s 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.