Toronto Dominion Bank Raises Stock Position in Hubbell Incorporated (NYSE:HUBB)

Toronto Dominion Bank boosted its stake in Hubbell Incorporated (NYSE:HUBB - Free Report) by 15.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 18,052 shares of the industrial products company's stock after buying an additional 2,378 shares during the quarter. Toronto Dominion Bank's holdings in Hubbell were worth $7,733,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in HUBB. Mizuho Securities USA LLC grew its position in shares of Hubbell by 192,421.1% during the 3rd quarter. Mizuho Securities USA LLC now owns 7,980,000 shares of the industrial products company's stock valued at $3,418,233,000 after acquiring an additional 7,975,855 shares during the period. State Street Corp increased its stake in Hubbell by 1.1% in the 3rd quarter. State Street Corp now owns 2,092,215 shares of the industrial products company's stock worth $896,200,000 after acquiring an additional 22,507 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Hubbell by 16.7% in the second quarter. Bank of New York Mellon Corp now owns 2,035,596 shares of the industrial products company's stock valued at $743,970,000 after purchasing an additional 291,850 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in shares of Hubbell by 42,735.0% during the 3rd quarter. International Assets Investment Management LLC now owns 1,919,865 shares of the industrial products company's stock worth $8,223,740,000 after acquiring an additional 1,915,383 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its stake in Hubbell by 6.2% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,417,476 shares of the industrial products company's stock worth $607,176,000 after purchasing an additional 82,258 shares during the last quarter. Hedge funds and other institutional investors own 88.16% of the company's stock.

Hubbell Stock Performance

Shares of HUBB traded down $1.72 during mid-day trading on Friday, hitting $453.62. 233,620 shares of the company traded hands, compared to its average volume of 438,311. Hubbell Incorporated has a 1 year low of $315.38 and a 1 year high of $481.35. 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 stock has a 50-day moving average price of $451.86 and a two-hundred day moving average price of $408.36. The stock has a market cap of $24.35 billion, a price-to-earnings ratio of 32.68, a P/E/G ratio of 1.70 and a beta of 0.91.

Hubbell (NYSE:HUBB - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $4.49 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.47 by $0.02. The business had revenue of $1.44 billion during the quarter, compared to the consensus estimate 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 in the previous year, the company posted $3.95 EPS. Equities analysts anticipate that Hubbell Incorporated will post 16.47 earnings per share for the current year.

Hubbell Increases Dividend

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

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on HUBB. Deutsche Bank Aktiengesellschaft cut shares of Hubbell from a "buy" rating to a "hold" rating and cut their price objective for the company from $493.00 to $473.00 in a research note on Tuesday, November 26th. Morgan Stanley boosted their target price on Hubbell from $407.00 to $445.00 and gave the company an "equal weight" rating in a research note on Wednesday, October 30th. Mizuho increased their price target on shares of Hubbell from $450.00 to $490.00 and gave the stock an "outperform" rating in a research note on Thursday, October 17th. Wells Fargo & Company increased their price objective on Hubbell from $445.00 to $455.00 and gave the stock an "equal weight" rating in a report on Wednesday, October 30th. Finally, Barclays lifted their target price on shares of Hubbell from $402.00 to $475.00 and gave the company an "equal weight" rating in a report on Thursday, December 5th. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, Hubbell has an average rating of "Hold" and an average target price of $472.13.

Insider Activity at Hubbell

In other Hubbell news, insider Mark Eugene Mikes sold 1,144 shares of Hubbell stock in a transaction on Thursday, November 7th. The shares were 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 directly owns 2,957 shares of the company's stock, valued at $1,378,553.40. This trade represents a 27.90 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.66% of the stock is owned by corporate 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.