Weiss Asset Management LP Makes New Investment in Hubbell Incorporated (NYSE:HUBB)

Weiss Asset Management LP bought a new position in Hubbell Incorporated (NYSE:HUBB) in the 3rd quarter, HoldingsChannel reports. The fund bought 8,648 shares of the industrial products company’s stock, valued at approximately $3,704,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Prospera Private Wealth LLC bought a new position in Hubbell in the 3rd quarter worth about $33,000. Ashton Thomas Securities LLC acquired a new stake in shares of Hubbell in the 3rd quarter worth approximately $41,000. Quarry LP acquired a new stake in shares of Hubbell in the 2nd quarter worth approximately $49,000. Northwest Investment Counselors LLC acquired a new stake in shares of Hubbell in the 3rd quarter worth approximately $58,000. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in shares of Hubbell in the 2nd quarter worth approximately $62,000. Institutional investors own 88.16% of the company’s stock.

Hubbell Stock Down 1.1 %

Hubbell stock opened at $461.97 on Friday. The firm has a market cap of $24.79 billion, a PE ratio of 33.28, a P/E/G ratio of 1.75 and a beta of 0.91. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.05 and a current ratio of 1.66. The firm’s 50 day moving average price is $449.29 and its two-hundred day moving average price is $406.52. Hubbell Incorporated has a twelve month low of $303.06 and a twelve month high of $481.35.

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

Hubbell Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be paid a dividend of $1.32 per share. This is a positive change from Hubbell’s previous quarterly dividend of $1.22. The ex-dividend date of this dividend is Friday, November 29th. This represents a $5.28 annualized dividend and a dividend yield of 1.14%. Hubbell’s dividend payout ratio is 38.04%.

Insider Transactions at Hubbell

In other news, insider Mark Eugene Mikes sold 1,144 shares of the stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $466.20, for a total transaction of $533,332.80. Following the transaction, the insider now owns 2,957 shares in the company, valued at $1,378,553.40. This represents a 27.90 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.66% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Morgan Stanley upped their price target 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. StockNews.com lowered shares of Hubbell from a “buy” rating to a “hold” rating in a research note on Tuesday. JPMorgan Chase & Co. lowered shares of Hubbell from an “overweight” rating to a “neutral” rating and upped their price target for the stock from $385.00 to $454.00 in a research note on Thursday, October 10th. Deutsche Bank Aktiengesellschaft lowered shares of Hubbell from a “buy” rating to a “hold” rating and cut their target price for the company from $493.00 to $473.00 in a research note on Tuesday, November 26th. Finally, Barclays upped their price target on shares of Hubbell from $402.00 to $475.00 and gave the company an “equal weight” rating in a research report on Thursday. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Hubbell presently has an average rating of “Hold” and an average price target of $457.22.

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.