Hubbell Incorporated (NYSE:HUBB) Shares Sold by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky lowered its holdings in Hubbell Incorporated (NYSE:HUBB) by 4.9% in the third quarter, HoldingsChannel reports. The firm owned 4,876 shares of the industrial products company’s stock after selling 253 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Hubbell were worth $2,088,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. IFG Advisory LLC acquired a new stake in Hubbell in the 2nd quarter valued at about $475,000. Acadian Asset Management LLC lifted its stake in Hubbell by 51.3% in the second quarter. Acadian Asset Management LLC now owns 3,693 shares of the industrial products company’s stock worth $1,347,000 after acquiring an additional 1,252 shares during the last quarter. LGT Capital Partners LTD. acquired a new position in Hubbell during the 3rd quarter worth approximately $39,687,000. Private Advisor Group LLC increased its position in shares of Hubbell by 89.0% in the 2nd quarter. Private Advisor Group LLC now owns 4,688 shares of the industrial products company’s stock valued at $1,713,000 after purchasing an additional 2,207 shares during the last quarter. Finally, Impax Asset Management Group plc raised its holdings in shares of Hubbell by 30.3% in the 3rd quarter. Impax Asset Management Group plc now owns 1,202,455 shares of the industrial products company’s stock valued at $514,377,000 after purchasing an additional 279,654 shares in the last quarter. 88.16% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Mark Eugene Mikes sold 1,144 shares of Hubbell stock in a transaction dated 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. The trade was a 27.90 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on HUBB shares. Wells Fargo & Company increased their target price on Hubbell from $445.00 to $455.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. downgraded Hubbell from an “overweight” rating to a “neutral” rating and increased their price objective for the company from $385.00 to $454.00 in a report on Thursday, October 10th. Morgan Stanley boosted their target price on Hubbell from $407.00 to $445.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Mizuho increased their price target on shares of Hubbell from $450.00 to $490.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of Hubbell from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $493.00 to $473.00 in a research report on Tuesday, November 26th. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, Hubbell has a consensus rating of “Hold” and an average target price of $472.13.

Hubbell Stock Up 0.5 %

HUBB stock opened at $455.82 on Tuesday. The company has a market cap of $24.46 billion, a price-to-earnings ratio of 32.84, a price-to-earnings-growth ratio of 1.70 and a beta of 0.91. The company has a fifty day moving average price of $451.86 and a 200 day moving average price of $408.36. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.66 and a quick ratio of 1.05. Hubbell Incorporated has a 12 month low of $315.38 and a 12 month high of $481.35.

Hubbell (NYSE:HUBB) last announced its earnings results on Tuesday, October 29th. The industrial products company reported $4.49 EPS for the quarter, beating analysts’ consensus estimates of $4.47 by $0.02. Hubbell had a net margin of 13.33% and a return on equity of 28.81%. The business had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.48 billion. During the same period in the prior year, the company earned $3.95 earnings per share. The business’s revenue was up 4.9% compared to the same quarter last year. Sell-side analysts expect that Hubbell Incorporated will post 16.47 earnings per share for the current year.

Hubbell Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were paid a $1.32 dividend. This is an increase from Hubbell’s previous quarterly dividend of $1.22. This represents a $5.28 annualized dividend and a dividend yield of 1.16%. The ex-dividend date of this dividend was Friday, November 29th. Hubbell’s dividend payout ratio (DPR) is 38.04%.

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.