Fort Washington Investment Advisors Inc. OH Sells 25,196 Shares of Hubbell Incorporated (NYSE:HUBB)

Fort Washington Investment Advisors Inc. OH reduced its holdings in shares of Hubbell Incorporated (NYSE:HUBB - Free Report) by 11.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 192,454 shares of the industrial products company's stock after selling 25,196 shares during the period. Fort Washington Investment Advisors Inc. OH owned about 0.36% of Hubbell worth $80,617,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the business. OLD National Bancorp IN grew its position in Hubbell by 3.8% during the 3rd quarter. OLD National Bancorp IN now owns 596 shares of the industrial products company's stock worth $255,000 after purchasing an additional 22 shares during the last quarter. MassMutual Private Wealth & Trust FSB lifted its holdings in Hubbell by 12.3% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 228 shares of the industrial products company's stock valued at $96,000 after acquiring an additional 25 shares during the period. JGP Wealth Management LLC boosted its position in shares of Hubbell by 1.2% during the 4th quarter. JGP Wealth Management LLC now owns 2,110 shares of the industrial products company's stock worth $884,000 after purchasing an additional 26 shares in the last quarter. Avestar Capital LLC boosted its holdings in Hubbell by 5.1% during the third quarter. Avestar Capital LLC now owns 577 shares of the industrial products company's stock worth $247,000 after buying an additional 28 shares in the last quarter. Finally, Ballentine Partners LLC grew its holdings in shares of Hubbell by 3.2% in the 3rd quarter. Ballentine Partners LLC now owns 956 shares of the industrial products company's stock worth $410,000 after acquiring an additional 30 shares during the period. 88.16% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

HUBB has been the topic of a number of recent analyst reports. Wells Fargo & Company reduced their price target on Hubbell from $455.00 to $450.00 and set an "equal weight" rating on the stock in a research note on Tuesday, January 7th. Barclays boosted their price objective on shares of Hubbell from $402.00 to $475.00 and gave the stock an "equal weight" rating in a research note on Thursday, December 5th. JPMorgan Chase & Co. downgraded Hubbell from an "overweight" rating to a "neutral" rating and increased their price target for the company from $385.00 to $454.00 in a report on Thursday, October 10th. Sanford C. Bernstein started coverage on shares of Hubbell in a research report on Tuesday, November 5th. They issued an "outperform" rating and a $535.00 price objective for the company. Finally, Morgan Stanley lifted their target price on Hubbell from $407.00 to $445.00 and gave the stock an "equal weight" rating in a research report on Wednesday, October 30th. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $471.50.

Hubbell Price Performance

HUBB traded up $6.40 during midday trading on Wednesday, hitting $456.78. The company had a trading volume of 883,494 shares, compared to its average volume of 478,869. Hubbell Incorporated has a twelve month low of $326.13 and a twelve month high of $481.35. The firm's 50-day simple moving average is $441.94 and its 200-day simple moving average is $418.72. The company has a market capitalization of $24.52 billion, a PE ratio of 32.91, a P/E/G ratio of 1.50 and a beta of 0.93. 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 issued its earnings results on Tuesday, October 29th. The industrial products company reported $4.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.47 by $0.02. The company 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 EPS. Equities research analysts predict that Hubbell Incorporated will post 16.48 EPS for the current fiscal year.

Hubbell Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 29th were paid a $1.32 dividend. The ex-dividend date was Friday, November 29th. This is a positive change from Hubbell's previous quarterly dividend of $1.22. This represents a $5.28 dividend on an annualized basis and a yield of 1.16%. Hubbell's dividend payout ratio is presently 38.04%.

Insiders Place Their Bets

In related news, insider Mark Eugene Mikes sold 1,144 shares of the company's stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $466.20, for a total transaction of $533,332.80. Following the sale, the insider now owns 2,957 shares in the company, 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 legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.78% of the company's stock.

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.