Bank of Montreal Can Has $96.77 Million Stock Position in Hubbell Incorporated (NYSE:HUBB)

Bank of Montreal Can decreased its stake in shares of Hubbell Incorporated (NYSE:HUBB - Free Report) by 1.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 225,840 shares of the industrial products company's stock after selling 3,903 shares during the period. Bank of Montreal Can owned approximately 0.42% of Hubbell worth $96,768,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in HUBB. Mizuho Securities USA LLC grew its holdings in shares of Hubbell by 192,421.1% in the 3rd 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 acquiring an additional 7,975,855 shares in the last quarter. International Assets Investment Management LLC increased its position in shares of 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 purchasing an additional 1,915,383 shares during the last quarter. Impax Asset Management Group plc raised its stake in shares of Hubbell by 53.8% during the 2nd quarter. Impax Asset Management Group plc now owns 922,801 shares of the industrial products company's stock worth $336,984,000 after purchasing an additional 322,728 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Hubbell by 16.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,035,596 shares of the industrial products company's stock valued at $743,970,000 after buying an additional 291,850 shares during the last quarter. Finally, LGT Capital Partners LTD. bought a new position in shares of Hubbell in the third quarter valued at $39,687,000. Institutional investors own 88.16% of the company's stock.

Insider Buying and Selling

In related news, insider Mark Eugene Mikes sold 1,144 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider now owns 2,957 shares of the company's stock, 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 Securities & Exchange Commission, which is available at this link. 0.78% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

HUBB has been the topic of several analyst reports. StockNews.com raised shares of Hubbell from a "hold" rating to a "buy" rating in a research report on Monday. Wells Fargo & Company raised their target price 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. Sanford C. Bernstein assumed coverage on Hubbell in a report on Tuesday, November 5th. They set an "outperform" rating and a $535.00 price target for the company. Deutsche Bank Aktiengesellschaft lowered Hubbell from a "buy" rating to a "hold" rating and dropped their price objective for the company from $493.00 to $473.00 in a research note on Tuesday. Finally, Stephens reissued an "overweight" rating and set a $450.00 target price on shares of Hubbell in a report on Friday, August 2nd. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $449.11.

Hubbell Stock Performance

Shares of NYSE HUBB traded up $3.12 during trading hours on Wednesday, reaching $463.86. 10,728 shares of the stock were exchanged, compared to its average volume of 442,900. The stock's fifty day simple moving average is $443.30 and its 200 day simple moving average is $403.08. The firm has a market capitalization of $24.90 billion, a price-to-earnings ratio of 33.18, a P/E/G ratio of 1.73 and a beta of 0.90. Hubbell Incorporated has a 52 week low of $293.91 and a 52 week high of $481.35. 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 (NYSE:HUBB - Get Free Report) last announced 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 during the quarter, compared to analysts' expectations of $1.48 billion. Hubbell had a return on equity of 28.81% and a net margin of 13.33%. The company's quarterly revenue was up 4.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.95 EPS. Sell-side analysts predict that Hubbell Incorporated will post 16.47 EPS for the current year.

Hubbell Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors 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 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 (DPR) is currently 35.16%.

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.