Hubbell Incorporated (NYSE:HUBB) Stake Lessened by Fmr LLC

FMR LLC lowered its position in shares of Hubbell Incorporated (NYSE:HUBB - Free Report) by 2.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,292,000 shares of the industrial products company's stock after selling 53,117 shares during the quarter. FMR LLC owned approximately 4.27% of Hubbell worth $981,778,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of HUBB. Prospera Private Wealth LLC purchased a new position in Hubbell during the third quarter worth approximately $33,000. Ashton Thomas Securities LLC purchased a new position in shares of Hubbell in the 3rd quarter worth $41,000. Quarry LP acquired a new position in Hubbell in the second quarter valued at $49,000. Northwest Investment Counselors LLC acquired a new position in Hubbell in the third quarter valued at $58,000. Finally, GAMMA Investing LLC grew its position in Hubbell by 84.7% during the third quarter. GAMMA Investing LLC now owns 157 shares of the industrial products company's stock valued at $67,000 after acquiring an additional 72 shares during the period. 88.16% of the stock is owned by hedge funds and other institutional investors.

Hubbell Stock Down 0.4 %

Shares of HUBB traded down $1.89 during trading on Thursday, reaching $458.85. The company's stock had a trading volume of 253,964 shares, compared to its average volume of 443,969. Hubbell Incorporated has a twelve month low of $293.91 and a twelve month high of $481.35. 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 company has a market cap of $24.63 billion, a price-to-earnings ratio of 33.06, a P/E/G ratio of 1.73 and a beta of 0.90. The company has a fifty day moving average of $444.28 and a two-hundred day moving average of $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 EPS for the quarter, beating analysts' consensus estimates of $4.47 by $0.02. The firm had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.48 billion. Hubbell had a net margin of 13.33% and a return on equity of 28.81%. The firm's revenue was up 4.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.95 EPS. On average, 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 $1.32 dividend. This is a positive change from Hubbell's previous quarterly dividend of $1.22. This represents a $5.28 annualized dividend and a yield of 1.15%. The ex-dividend date is Friday, November 29th. Hubbell's payout ratio is currently 35.16%.

Analyst Ratings Changes

Several research firms have recently weighed in on HUBB. Wells Fargo & Company lifted their price objective on Hubbell from $445.00 to $455.00 and gave the company an "equal weight" rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. lowered shares of Hubbell from an "overweight" rating to a "neutral" rating and increased their price objective for the stock from $385.00 to $454.00 in a research report on Thursday, October 10th. StockNews.com upgraded shares of Hubbell from a "hold" rating to a "buy" rating in a report on Monday. Sanford C. Bernstein initiated coverage on Hubbell in a report on Tuesday, November 5th. They issued an "outperform" rating and a $535.00 price target for the company. Finally, Barclays boosted their price objective on Hubbell from $400.00 to $402.00 and gave the stock an "equal weight" rating in a research note on Wednesday, October 30th. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Hubbell presently has a consensus rating of "Moderate Buy" and an average price target of $449.11.

Insider Buying and Selling at Hubbell

In other news, insider Mark Eugene Mikes sold 1,144 shares of the company'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 transaction, the insider now directly owns 2,957 shares of the company's stock, 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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.