Vaughan Nelson Investment Management L.P. Increases Holdings in Hubbell Incorporated (NYSE:HUBB)

Vaughan Nelson Investment Management L.P. boosted its holdings in shares of Hubbell Incorporated (NYSE:HUBB) by 10.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 71,295 shares of the industrial products company’s stock after purchasing an additional 6,891 shares during the period. Vaughan Nelson Investment Management L.P. owned about 0.13% of Hubbell worth $30,539,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. OLD National Bancorp IN increased its holdings in Hubbell by 3.8% during the 3rd quarter. OLD National Bancorp IN now owns 596 shares of the industrial products company’s stock valued at $255,000 after purchasing an additional 22 shares during the period. CWM LLC grew its holdings in shares of Hubbell by 2.2% during the 2nd quarter. CWM LLC now owns 1,319 shares of the industrial products company’s stock worth $482,000 after acquiring an additional 28 shares during the period. Detalus Advisors LLC grew its holdings in shares of Hubbell by 3.0% during the 2nd quarter. Detalus Advisors LLC now owns 1,030 shares of the industrial products company’s stock worth $377,000 after acquiring an additional 30 shares during the period. Ballentine Partners LLC grew its holdings in shares of Hubbell by 3.2% during the 3rd quarter. Ballentine Partners LLC now owns 956 shares of the industrial products company’s stock worth $410,000 after acquiring an additional 30 shares during the period. Finally, Savant Capital LLC grew its holdings in shares of Hubbell by 2.6% during the 2nd quarter. Savant Capital LLC now owns 1,205 shares of the industrial products company’s stock worth $440,000 after acquiring an additional 31 shares during the period. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Insider Activity at Hubbell

In other Hubbell news, insider Mark Eugene Mikes sold 1,144 shares of the stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $466.20, for a total value of $533,332.80. Following the transaction, the insider now 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.66% of the stock is currently owned by insiders.

Hubbell Stock Performance

HUBB stock opened at $437.61 on Monday. The stock has a market capitalization of $23.49 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 $287.06 and a 12-month high of $481.35. The company has a current ratio of 1.66, a quick ratio of 1.05 and a debt-to-equity ratio of 0.51. The stock’s 50 day simple moving average is $435.08 and its 200 day simple moving average is $399.80.

Hubbell (NYSE:HUBB) last released its quarterly earnings data 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 business had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.48 billion. Hubbell had a return on equity of 28.81% and a net margin of 13.33%. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period in the prior year, the firm posted $3.95 EPS. As a group, research analysts forecast that Hubbell Incorporated will post 16.47 earnings per share for the current fiscal year.

Hubbell Increases Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend 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 1.21%. Hubbell’s dividend payout ratio is 38.04%.

Analyst Ratings Changes

A number of research analysts have weighed in on HUBB shares. Stephens reiterated an “overweight” rating and set a $450.00 target price on shares of Hubbell in a report on Friday, August 2nd. Deutsche Bank Aktiengesellschaft upgraded Hubbell from a “hold” rating to a “buy” rating and upped their target price for the stock from $431.00 to $441.00 in a report on Friday, September 6th. Mizuho boosted their price target on Hubbell from $450.00 to $490.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Barclays boosted their price target on Hubbell from $400.00 to $402.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Finally, 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. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $445.56.

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.