Brooklyn Investment Group Takes $133,000 Position in Hubbell Incorporated (NYSE:HUBB)

Brooklyn Investment Group bought a new stake in shares of Hubbell Incorporated (NYSE:HUBB) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 310 shares of the industrial products company’s stock, valued at approximately $133,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Prospera Private Wealth LLC bought a new position in Hubbell in the 3rd quarter worth approximately $33,000. Ashton Thomas Securities LLC bought a new position in Hubbell in the 3rd quarter worth approximately $41,000. Quarry LP purchased a new stake in Hubbell in the 2nd quarter worth approximately $49,000. Northwest Investment Counselors LLC purchased a new stake in Hubbell in the 3rd quarter worth approximately $58,000. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in Hubbell in the 2nd quarter worth approximately $62,000. 88.16% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Morgan Stanley increased their target price on shares of Hubbell from $407.00 to $445.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Sanford C. Bernstein assumed coverage on shares of Hubbell in a research note on Tuesday, November 5th. They issued an “outperform” rating and a $535.00 target price on the stock. Mizuho increased their target price on shares of Hubbell from $450.00 to $490.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. JPMorgan Chase & Co. cut shares of Hubbell from an “overweight” rating to a “neutral” rating and increased their target price for the stock from $385.00 to $454.00 in a research note on Thursday, October 10th. Finally, Wells Fargo & Company increased their target price on shares of Hubbell from $445.00 to $455.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Hubbell currently has a consensus rating of “Moderate Buy” and a consensus price target of $449.11.

Insiders Place Their Bets

In other Hubbell news, insider Mark Eugene Mikes sold 1,144 shares of the firm’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 sale, the insider now owns 2,957 shares of the company’s stock, valued at $1,378,553.40. This trade represents a 27.90 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.78% of the company’s stock.

Hubbell Price Performance

HUBB stock opened at $458.81 on Thursday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.05 and a current ratio of 1.66. Hubbell Incorporated has a 52 week low of $293.91 and a 52 week high of $481.35. The firm’s fifty day moving average is $444.28 and its 200 day moving average is $403.47. The firm has a market cap of $24.62 billion, a P/E ratio of 33.06, a P/E/G ratio of 1.73 and a beta of 0.90.

Hubbell (NYSE:HUBB) last released its earnings results on Tuesday, October 29th. The industrial products company reported $4.49 EPS for the quarter, beating the consensus estimate of $4.47 by $0.02. Hubbell had a net margin of 13.33% and a return on equity of 28.81%. The company had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.48 billion. During the same quarter last year, the firm earned $3.95 EPS. The firm’s quarterly revenue was up 4.9% compared to the same quarter last year. Research analysts predict that Hubbell Incorporated will post 16.47 earnings per share for the current year.

Hubbell Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be issued a $1.32 dividend. This represents a $5.28 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date of this dividend is Friday, November 29th. This is a positive change from Hubbell’s previous quarterly dividend of $1.22. Hubbell’s dividend payout ratio (DPR) is 35.16%.

Hubbell 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.