Geode Capital Management LLC Buys 8,278 Shares of Hubbell Incorporated (NYSE:HUBB)

Geode Capital Management LLC raised its holdings in Hubbell Incorporated (NYSE:HUBB - Free Report) by 0.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,254,905 shares of the industrial products company's stock after acquiring an additional 8,278 shares during the period. Geode Capital Management LLC owned about 2.34% of Hubbell worth $535,681,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Prospera Private Wealth LLC acquired a new position in shares of Hubbell in the third quarter valued at approximately $33,000. Ashton Thomas Securities LLC acquired a new position in Hubbell in the 3rd quarter valued at approximately $41,000. Quarry LP bought a new position in shares of Hubbell during the second quarter valued at $49,000. Northwest Investment Counselors LLC acquired a new position in shares of Hubbell during the third quarter worth $58,000. Finally, GAMMA Investing LLC grew its stake in shares of Hubbell by 84.7% in the third quarter. GAMMA Investing LLC now owns 157 shares of the industrial products company's stock worth $67,000 after purchasing an additional 72 shares during the last quarter. Institutional investors own 88.16% of the company's stock.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft lowered Hubbell from a "buy" rating to a "hold" rating and lowered their target price for the stock from $493.00 to $473.00 in a research report on Tuesday, November 26th. Mizuho lifted their price objective on Hubbell from $450.00 to $490.00 and gave the stock an "outperform" rating in a research note on Thursday, October 17th. JPMorgan Chase & Co. cut Hubbell from an "overweight" rating to a "neutral" rating and upped their target price for the company from $385.00 to $454.00 in a report on Thursday, October 10th. Barclays boosted their price target on shares of Hubbell from $402.00 to $475.00 and gave the stock an "equal weight" rating in a research report on Thursday, December 5th. Finally, Wells Fargo & Company increased their price objective on shares of Hubbell from $445.00 to $455.00 and gave the stock an "equal weight" rating in a research report on Wednesday, October 30th. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $472.13.

Insider Activity at Hubbell

In other news, insider Mark Eugene Mikes sold 1,144 shares of the stock in a transaction that occurred 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 sale, the insider now directly owns 2,957 shares of the company's stock, valued at $1,378,553.40. This represents a 27.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.66% of the stock is currently owned by insiders.

Hubbell Stock Down 0.4 %

NYSE HUBB traded down $1.72 on Friday, hitting $453.62. 230,593 shares of the company were exchanged, compared to its average volume of 438,311. Hubbell Incorporated has a 12 month low of $315.38 and a 12 month high of $481.35. 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 has a market cap of $24.35 billion, a PE ratio of 32.68, a PEG ratio of 1.70 and a beta of 0.91. The stock has a fifty day moving average of $451.38 and a 200-day moving average of $407.87.

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

Hubbell Increases Dividend

The company also recently announced 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 boost from Hubbell's previous quarterly dividend of $1.22. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date is Friday, November 29th. Hubbell's dividend payout ratio (DPR) is currently 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.