Douglas Lane & Associates LLC Has $1.13 Million Stock Holdings in Hubbell Incorporated (NYSE:HUBB)

Douglas Lane & Associates LLC increased its holdings in shares of Hubbell Incorporated (NYSE:HUBB - Free Report) by 158.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,690 shares of the industrial products company's stock after acquiring an additional 1,650 shares during the quarter. Douglas Lane & Associates LLC's holdings in Hubbell were worth $1,127,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Groupama Asset Managment grew its position in shares of Hubbell by 17.0% during the third quarter. Groupama Asset Managment now owns 6,955 shares of the industrial products company's stock worth $30,000 after acquiring an additional 1,010 shares during the last quarter. Prospera Private Wealth LLC bought a new position in Hubbell in the 3rd quarter worth about $33,000. Versant Capital Management Inc increased its stake in shares of Hubbell by 64.6% in the fourth quarter. Versant Capital Management Inc now owns 79 shares of the industrial products company's stock valued at $33,000 after purchasing an additional 31 shares during the period. Ashton Thomas Securities LLC bought a new stake in shares of Hubbell during the third quarter valued at approximately $41,000. Finally, Quarry LP acquired a new position in shares of Hubbell during the second quarter worth approximately $49,000. Institutional investors own 88.16% of the company's stock.

Insider Activity

In other Hubbell news, insider Mark Eugene Mikes sold 1,144 shares of the business's stock in a transaction on 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 of the company's stock, valued at $1,378,553.40. The trade was a 27.90 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.66% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts recently commented on HUBB shares. Wells Fargo & Company lowered their target price on Hubbell from $455.00 to $450.00 and set an "equal weight" rating on the stock in a research report on Tuesday. Morgan Stanley lifted their price objective on shares of Hubbell from $407.00 to $445.00 and gave the company an "equal weight" rating in a research note on Wednesday, October 30th. Barclays increased their target price 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. StockNews.com downgraded shares of Hubbell from a "buy" rating to a "hold" rating in a research report on Tuesday, December 3rd. Finally, Mizuho increased their price objective on shares of Hubbell from $450.00 to $490.00 and gave the company an "outperform" rating in a report on Thursday, October 17th. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Hubbell currently has a consensus rating of "Hold" and a consensus price target of $471.50.

Hubbell Stock Up 0.2 %

Shares of HUBB traded up $0.80 during midday trading on Thursday, reaching $434.76. 333,073 shares of the stock were exchanged, compared to its average volume of 326,915. The company has a market cap of $23.33 billion, a price-to-earnings ratio of 31.32, a P/E/G ratio of 1.69 and a beta of 0.93. The company has a quick ratio of 1.05, a current ratio of 1.66 and a debt-to-equity ratio of 0.51. Hubbell Incorporated has a 12-month low of $319.03 and a 12-month high of $481.35. The firm has a 50 day simple moving average of $445.00 and a 200-day simple moving average of $414.50.

Hubbell (NYSE:HUBB - Get Free Report) last issued 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 for the quarter, compared to analyst estimates of $1.48 billion. Hubbell had a net margin of 13.33% and a return on equity of 28.81%. The company's revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter last year, the firm earned $3.95 earnings per share. Research analysts forecast that Hubbell Incorporated will post 16.47 EPS for the current year.

Hubbell Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were paid a dividend of $1.32 per share. This represents a $5.28 annualized dividend and a dividend yield of 1.21%. The ex-dividend date was Friday, November 29th. This is an increase from Hubbell's previous quarterly dividend of $1.22. Hubbell's dividend payout ratio is 38.04%.

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.