Advisors Asset Management Inc. Sells 4,116 Shares of Hubbell Incorporated (NYSE:HUBB)

Advisors Asset Management Inc. lessened its holdings in shares of Hubbell Incorporated (NYSE:HUBB - Free Report) by 21.9% in the third quarter, according to its most recent filing with the SEC. The firm owned 14,648 shares of the industrial products company's stock after selling 4,116 shares during the period. Advisors Asset Management Inc.'s holdings in Hubbell were worth $6,274,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. IFG Advisory LLC bought a new stake in Hubbell during the 2nd quarter worth approximately $475,000. Acadian Asset Management LLC lifted its position in Hubbell by 51.3% in the 2nd quarter. Acadian Asset Management LLC now owns 3,693 shares of the industrial products company's stock valued at $1,347,000 after acquiring an additional 1,252 shares in the last quarter. Great Valley Advisor Group Inc. boosted its stake in Hubbell by 24.6% in the 2nd quarter. Great Valley Advisor Group Inc. now owns 6,873 shares of the industrial products company's stock worth $2,511,000 after purchasing an additional 1,359 shares during the period. DekaBank Deutsche Girozentrale raised its stake in shares of Hubbell by 2.9% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 99,227 shares of the industrial products company's stock valued at $40,731,000 after purchasing an additional 2,822 shares during the period. Finally, Cetera Advisors LLC acquired a new stake in Hubbell in the 1st quarter valued at approximately $582,000. Institutional investors and hedge funds own 88.16% of the company's stock.

Hubbell Stock Up 0.9 %

Shares of NYSE HUBB traded up $4.33 during trading on Friday, hitting $460.81. The stock had a trading volume of 308,656 shares, compared to its average volume of 443,857. Hubbell Incorporated has a 12 month low of $293.91 and a 12 month high of $481.35. The firm has a fifty day moving average of $440.09 and a two-hundred day moving average of $401.71. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.66 and a quick ratio of 1.05. The company has a market capitalization of $24.73 billion, a PE ratio of 33.02, a PEG ratio of 1.68 and a beta of 0.90.

Hubbell (NYSE:HUBB - Get Free Report) last released its quarterly earnings data 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 business had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.48 billion. During the same period in the prior year, the firm earned $3.95 earnings per share. The company's revenue was up 4.9% compared to the same quarter last year. As a group, equities research analysts forecast 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. Shareholders of record on Friday, November 29th will be given 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 is Friday, November 29th. This represents a $5.28 dividend on an annualized basis and a yield of 1.15%. Hubbell's dividend payout ratio is presently 38.04%.

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 owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have commented on HUBB shares. Sanford C. Bernstein assumed coverage on shares of Hubbell in a research report on Tuesday, November 5th. They set an "outperform" rating and a $535.00 price target on the stock. Deutsche Bank Aktiengesellschaft raised Hubbell from a "hold" rating to a "buy" rating and boosted their price target for the stock from $431.00 to $441.00 in a research report on Friday, September 6th. Stephens restated an "overweight" rating and set a $450.00 target price on shares of Hubbell in a report on Friday, August 2nd. Wells Fargo & Company increased their price target on shares of Hubbell from $445.00 to $455.00 and gave the company an "equal weight" rating in a research note on Wednesday, October 30th. Finally, StockNews.com upgraded shares of Hubbell from a "hold" rating to a "buy" rating in a research note on Thursday, November 14th. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $445.56.

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.