Hubbell Incorporated (NYSE:HUBB) Stake Cut by Albert D Mason Inc.

Albert D Mason Inc. decreased its holdings in Hubbell Incorporated (NYSE:HUBB - Free Report) by 11.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 5,879 shares of the industrial products company's stock after selling 737 shares during the period. Hubbell makes up about 1.6% of Albert D Mason Inc.'s portfolio, making the stock its 10th biggest position. Albert D Mason Inc.'s holdings in Hubbell were worth $2,463,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of HUBB. Mizuho Securities USA LLC boosted its position in Hubbell by 192,421.1% in the third quarter. Mizuho Securities USA LLC now owns 7,980,000 shares of the industrial products company's stock valued at $3,418,233,000 after buying an additional 7,975,855 shares in the last quarter. State Street Corp boosted its holdings in shares of Hubbell by 1.1% during the 3rd quarter. State Street Corp now owns 2,092,215 shares of the industrial products company's stock valued at $896,200,000 after acquiring an additional 22,507 shares in the last quarter. International Assets Investment Management LLC grew its position in Hubbell by 42,735.0% during the 3rd quarter. International Assets Investment Management LLC now owns 1,919,865 shares of the industrial products company's stock worth $8,223,740,000 after acquiring an additional 1,915,383 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Hubbell by 6.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,417,476 shares of the industrial products company's stock worth $607,176,000 after purchasing an additional 82,258 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in Hubbell by 0.7% in the third quarter. Geode Capital Management LLC now owns 1,254,905 shares of the industrial products company's stock valued at $535,681,000 after purchasing an additional 8,278 shares during the last quarter. Institutional investors and hedge funds own 88.16% of the company's stock.

Hubbell Stock Up 0.8 %

NYSE HUBB traded up $3.60 during mid-day trading on Friday, hitting $437.52. The company's stock had a trading volume of 375,860 shares, compared to its average volume of 293,018. The firm has a market capitalization of $23.48 billion, a price-to-earnings ratio of 31.52, a PEG ratio of 1.45 and a beta of 0.93. The company's 50 day simple moving average is $442.54 and its 200 day simple moving average is $417.38. The company has a current ratio of 1.66, a quick ratio of 1.05 and a debt-to-equity ratio of 0.51. Hubbell Incorporated has a twelve month low of $322.27 and a twelve month high of $481.35.

Hubbell (NYSE:HUBB - Get Free Report) last announced its quarterly earnings results 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 business had revenue of $1.44 billion for the quarter, compared to analysts' expectations of $1.48 billion. Hubbell had a net margin of 13.33% and a return on equity of 28.81%. The firm's revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter last year, the firm earned $3.95 EPS. Analysts anticipate 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 was paid on Monday, December 16th. Investors of record on Friday, November 29th were issued a dividend of $1.32 per share. The ex-dividend date of this dividend was 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 payout ratio is 38.04%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Mizuho raised 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. JPMorgan Chase & Co. lowered Hubbell from an "overweight" rating to a "neutral" rating and raised their target price for the stock from $385.00 to $454.00 in a research report on Thursday, October 10th. Morgan Stanley lifted their target price on Hubbell from $407.00 to $445.00 and gave the stock an "equal weight" rating in a report on Wednesday, October 30th. Sanford C. Bernstein initiated coverage on Hubbell in a research note on Tuesday, November 5th. They issued an "outperform" rating and a $535.00 price target for the company. Finally, StockNews.com raised Hubbell from a "hold" rating to a "buy" rating in a research note on Thursday. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $471.50.

Insiders Place Their Bets

In related news, insider Mark Eugene Mikes sold 1,144 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $466.20, for a total transaction of $533,332.80. Following the completion of the transaction, the insider now owns 2,957 shares in the company, 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 filing with the Securities & Exchange Commission, which can be accessed through this link. 0.78% of the stock is currently owned by insiders.

About Hubbell

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.