Barclays PLC Sells 2,988 Shares of Hubbell Incorporated (NYSE:HUBB)

Barclays PLC reduced its position in Hubbell Incorporated (NYSE:HUBB - Free Report) by 2.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 103,383 shares of the industrial products company's stock after selling 2,988 shares during the quarter. Barclays PLC owned about 0.19% of Hubbell worth $44,283,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. OLD National Bancorp IN lifted its holdings in shares of Hubbell by 3.8% in the third quarter. OLD National Bancorp IN now owns 596 shares of the industrial products company's stock worth $255,000 after acquiring an additional 22 shares during the last quarter. Avestar Capital LLC boosted its position in Hubbell by 5.1% in the third quarter. Avestar Capital LLC now owns 577 shares of the industrial products company's stock valued at $247,000 after buying an additional 28 shares in the last quarter. Detalus Advisors LLC grew its stake in shares of Hubbell by 3.0% during the second quarter. Detalus Advisors LLC now owns 1,030 shares of the industrial products company's stock worth $377,000 after buying an additional 30 shares during the last quarter. Ballentine Partners LLC increased its holdings in shares of Hubbell by 3.2% during the third quarter. Ballentine Partners LLC now owns 956 shares of the industrial products company's stock worth $410,000 after buying an additional 30 shares in the last quarter. Finally, Savant Capital LLC lifted its stake in shares of Hubbell by 2.6% in the 2nd quarter. Savant Capital LLC now owns 1,205 shares of the industrial products company's stock valued at $440,000 after acquiring an additional 31 shares during the last quarter. 88.16% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Mark Eugene Mikes sold 1,144 shares of the business's stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $466.20, for a total transaction of $533,332.80. Following the completion of the sale, the insider now owns 2,957 shares in the company, valued at $1,378,553.40. The trade was a 27.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.66% of the stock is owned by insiders.

Hubbell Trading Down 0.4 %

HUBB traded down $1.72 during trading on Friday, reaching $453.62. 230,593 shares of the stock traded hands, compared to its average volume of 438,311. The company has a quick ratio of 1.05, a current ratio of 1.66 and a debt-to-equity ratio of 0.51. The stock's 50-day moving average is $451.38 and its 200 day moving average is $407.87. Hubbell Incorporated has a 12 month low of $315.38 and a 12 month high of $481.35. The stock has a market capitalization of $24.35 billion, a PE ratio of 32.68, a P/E/G ratio of 1.70 and a beta of 0.91.

Hubbell (NYSE:HUBB - Get Free Report) last released its earnings results on Tuesday, October 29th. The industrial products company reported $4.49 EPS for the quarter, topping the consensus estimate of $4.47 by $0.02. Hubbell had a return on equity of 28.81% and a net margin of 13.33%. The business had revenue of $1.44 billion during the quarter, compared to analysts' expectations of $1.48 billion. During the same quarter last year, the firm posted $3.95 earnings per share. The firm's revenue was up 4.9% on a year-over-year basis. Equities analysts anticipate 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 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 represents a $5.28 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date of this dividend is Friday, November 29th. This is an increase from Hubbell's previous quarterly dividend of $1.22. Hubbell's payout ratio is presently 38.04%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Deutsche Bank Aktiengesellschaft downgraded Hubbell from a "buy" rating to a "hold" rating and dropped their target price for the company from $493.00 to $473.00 in a research report on Tuesday, November 26th. Mizuho lifted their target price on shares of Hubbell from $450.00 to $490.00 and gave the stock an "outperform" rating in a research report on Thursday, October 17th. 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, December 5th. Wells Fargo & Company lifted their price target on shares of Hubbell from $445.00 to $455.00 and gave the stock an "equal weight" rating in a report on Wednesday, October 30th. Finally, 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. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $472.13.

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.