Franklin Resources Inc. Grows Stock Holdings in Hubbell Incorporated (NYSE:HUBB)

Franklin Resources Inc. grew its holdings in shares of Hubbell Incorporated (NYSE:HUBB - Free Report) by 32.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 99,405 shares of the industrial products company's stock after acquiring an additional 24,486 shares during the quarter. Franklin Resources Inc. owned about 0.19% of Hubbell worth $45,776,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Prospera Private Wealth LLC bought a new position in Hubbell in the third quarter valued at $33,000. Ashton Thomas Securities LLC bought a new position in shares of Hubbell during the 3rd quarter valued at about $41,000. Quarry LP purchased a new position in shares of Hubbell during the 2nd quarter valued at about $49,000. Northwest Investment Counselors LLC purchased a new position in shares of Hubbell during the 3rd quarter valued at about $58,000. Finally, GAMMA Investing LLC lifted its position in Hubbell by 84.7% in the 3rd quarter. GAMMA Investing LLC now owns 157 shares of the industrial products company's stock worth $67,000 after buying an additional 72 shares during the last quarter. Hedge funds and other institutional investors own 88.16% of the company's stock.

Analyst Ratings Changes

A number of research analysts have commented on HUBB shares. JPMorgan Chase & Co. cut shares of 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 research report on Thursday, October 10th. StockNews.com cut shares of Hubbell from a "buy" rating to a "hold" rating in a research report on Tuesday, December 3rd. Sanford C. Bernstein began coverage on shares of Hubbell in a research note on Tuesday, November 5th. They issued an "outperform" rating and a $535.00 price target for the company. Wells Fargo & Company raised 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. Finally, Mizuho boosted their target price on Hubbell from $450.00 to $490.00 and gave the company an "outperform" rating in a research note on Thursday, October 17th. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $472.13.

Hubbell Trading Down 3.2 %

Shares of NYSE HUBB traded down $14.11 during trading hours on Wednesday, hitting $425.42. The company's stock had a trading volume of 419,043 shares, compared to its average volume of 438,330. Hubbell Incorporated has a 12 month low of $315.38 and a 12 month high of $481.35. The stock has a market cap of $22.83 billion, a price-to-earnings ratio of 30.65, a P/E/G ratio of 1.70 and a beta of 0.91. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.05 and a current ratio of 1.66. The business has a 50-day simple moving average of $452.17 and a 200-day simple moving average of $409.17.

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, topping analysts' consensus estimates 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 return on equity of 28.81% and a net margin of 13.33%. The business's quarterly revenue was up 4.9% compared to the same quarter last year. During the same period last year, the company earned $3.95 EPS. On average, analysts anticipate that Hubbell Incorporated will post 16.47 earnings per share for the current fiscal year.

Hubbell Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were issued a $1.32 dividend. The ex-dividend date of this dividend was Friday, November 29th. 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 1.24%. Hubbell's dividend payout ratio is 38.04%.

Insider Transactions at Hubbell

In other Hubbell news, insider Mark Eugene Mikes sold 1,144 shares of the stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $466.20, for a total value of $533,332.80. Following the completion of the transaction, 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.66% of the company's stock.

Hubbell Company 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.