Dai ichi Life Insurance Company Ltd Sells 2,000 Shares of Hubbell Incorporated (NYSE:HUBB)

Dai ichi Life Insurance Company Ltd reduced its position in shares of Hubbell Incorporated (NYSE:HUBB - Free Report) by 44.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,488 shares of the industrial products company's stock after selling 2,000 shares during the period. Dai ichi Life Insurance Company Ltd's holdings in Hubbell were worth $1,066,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Prospera Private Wealth LLC purchased a new position in shares of Hubbell in the 3rd quarter worth about $33,000. Ashton Thomas Securities LLC purchased a new position in Hubbell in the third quarter valued at approximately $41,000. Quarry LP bought a new stake in shares of Hubbell in the second quarter valued at $49,000. Northwest Investment Counselors LLC purchased a new stake in Hubbell in the 3rd quarter worth about $58,000. Finally, Ashton Thomas Private Wealth LLC bought a new stake in Hubbell in the 2nd quarter valued at about $62,000. 88.16% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Mark Eugene Mikes sold 1,144 shares of Hubbell stock in a transaction 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 transaction, the insider now owns 2,957 shares in the company, valued at $1,378,553.40. This trade represents a 27.90 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.78% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

HUBB has been the subject of several recent research reports. StockNews.com upgraded shares of Hubbell from a "hold" rating to a "buy" rating in a research note on Monday. Barclays boosted their target price on shares of Hubbell from $400.00 to $402.00 and gave the company an "equal weight" rating in a report on Wednesday, October 30th. Mizuho raised their price target on Hubbell from $450.00 to $490.00 and gave the stock an "outperform" rating in a report on Thursday, October 17th. Sanford C. Bernstein started coverage on Hubbell in a research note on Tuesday, November 5th. They set an "outperform" rating and a $535.00 price objective on the stock. Finally, Morgan Stanley raised their target price on Hubbell from $407.00 to $445.00 and gave the stock an "equal weight" rating in a research note on Wednesday, October 30th. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $449.11.

Hubbell Stock Down 0.4 %

HUBB stock opened at $458.81 on Thursday. Hubbell Incorporated has a 1-year low of $293.91 and a 1-year high of $481.35. The stock has a market cap of $24.62 billion, a price-to-earnings ratio of 33.06, a price-to-earnings-growth ratio of 1.73 and a beta of 0.90. The company has a current ratio of 1.66, a quick ratio of 1.05 and a debt-to-equity ratio of 0.51. The company's 50 day moving average is $444.28 and its 200 day moving average is $403.47.

Hubbell (NYSE:HUBB - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $4.49 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.47 by $0.02. Hubbell had a net margin of 13.33% and a return on equity of 28.81%. The company had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same period in the previous year, the firm posted $3.95 EPS. The firm's revenue was up 4.9% compared to the same quarter last year. Sell-side analysts predict that Hubbell Incorporated will post 16.47 EPS for the current fiscal year.

Hubbell Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be issued a dividend of $1.32 per share. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.15%. This is a boost from Hubbell's previous quarterly dividend of $1.22. The ex-dividend date is Friday, November 29th. Hubbell's dividend payout ratio (DPR) is currently 35.16%.

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.